Blackstone and Legg Mason Under Review: Asset Management Stocks to Perform
LONDON, February 20, 2013
LONDON, February 20, 2013 /PRNewswire/ --
The Blackstone Group LP (NYSE: BX) is firmly on the growth path. The asset
management company is not only growing in emerging markets, but it is also
consolidating its position in the domestic market. Its stock recently created
a new 52-week high price and is expected to retain its momentum. However, Legg
Mason Inc. (NYSE: LM) is struggling to get back to its pre-recession peak. The
company recently concluded its multi-months-long search for a new CEO and
eventually gave the position to its interim CEO. Though it posted
disappointing quarterly results, it is likely to make a positive move in the
near future. StockCall has released free charting and technical research on
these two aforementioned companies. Register to read these reports at
Legg Mason Announces Quarterly Results
Legg Mason carried out management change and picked a new CEO. The appointment
of the new captain also marks a change in its strategic direction. Its stock,
however, reacted negatively to the appointment of Joseph A. Sullivan to the
top position. The new CEO is expected to change the compensation structure for
its top executives, tying their pay to their performance by offering them
equity. However, there is no expectation of a wave of radical changes on the
plate. Legg Mason Inc. free technical report can be accessed by signing up at
Legg Mason recently reported its third quarter results. Results were
negatively impacted by charges taken for writing down the value of some of its
units. It suffered $3.45 per share in net loss, its biggest quarterly loss
since 2008. Its redemption pressure also continued. The new CEO is expected to
stem the flow and put the company back in the game. Legg Mason has seen net
withdrawals for 20 quarters out of the last 21.
Legg Mason's stock is up 10 percent so far this year. The firm failed to
benefit from the stock market revival. It also needs to make structural
changes as the company currently has a complex web of affiliates, vying for
more control. The immediate task in front of the new CEO will be to reconcile
the interests of the company and its affiliates. The stock may have good
upside, should the new CEO succeed in making a turnaround.
Blackstone Group Expands Retail Portfolio
Blackstone Group's stock is doing well and recently hit its new 52-week high.
It is expected to keep up the momentum. The company is aggressively expanding
outside of its domestic market. It inked a new deal with two companies to buy
a business park in India. The deal is expected to be worth $367 million. It
will help the group in consolidating its position in the emerging economy.
Blackstone Group has emerged as one of the biggest PE players in the country.
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Blackstone is also focusing on the U.S. market. Its latest venture included
purchase of majority stake in 40 shopping centers with the price tag of $1.1
billion. The deal will further augment the company's retail holding.
Blackstone's stock is up 24 percent on a YTD basis. Apart from this it also
offers 8.77 percent dividend yield. The stock offers good combination of
capital growth along with income. With its increasing international clout, the
stock is expected to perform well in the future as well.
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