Lightyear Looking To Sell Its Stake In Clarion Partners
Nov 19 15
Lightyear Capital LLC is looking to sell its majority stake in real estate investment manager Clarion Partners LLC for around $800 million, people familiar with the sales said this week. Clarion's current management plans to retain its minority interest in the company after a sale, according to the people, who spoke on condition of anonymity because they were not authorized to speak about the sale. Lightyear’s stake in Clarion has attracted interest from Legg Mason Inc. (NYSE:LM). Representatives for Clarion, Lightyear and Legg Mason declined to comment.
Legg Mason Inc. Presents at Bank of America Merrill Lynch 2015 Banking and Financial Services Conference, Nov-18-2015 09:50 AM
Nov 11 15
Legg Mason Inc. Presents at Bank of America Merrill Lynch 2015 Banking and Financial Services Conference, Nov-18-2015 09:50 AM. Venue: St. Regis Hotel, New York, New York, United States. Speakers: Joseph A. Sullivan, Chairman, Chief Executive Officer, President and Member of Finance Committee.
Legg Mason Inc. Declares Quarterly Cash Dividend, Payable on January 11, 2016
Oct 30 15
Legg Mason Inc. announced that its Board of Directors has declared a quarterly cash dividend on the company's common stock in the amount of $0.20 per share. The dividend is payable January 11, 2016 to shareholders of record at the close of business on December 16, 2015.
Legg Mason Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended September 30, 2015; Provides Tax Rate Guidance for the Fiscal Year 2016
Oct 30 15
Legg Mason Inc. reported unaudited consolidated earnings results for the second quarter and six months ended September 30, 2015. The company reported net income of $64.3 million, or $0.58 per diluted share, as compared to $94.5 million, or $0.84 per diluted share, in the previous quarter, and net income of $4.9 million, or $0.04 per diluted share, in the second quarter of fiscal 2015. Adjusted income for the second fiscal quarter was $99.1 million, or $0.89 per diluted share, as compared to $129.3 million, or $1.14 per diluted share, in the previous quarter and $40.6 million, or $0.35 per diluted share, in the second quarter of fiscal 2015. For the current quarter, operating revenues were $673.1 million, down 5% from $708.6 million in the prior quarter, and down 4% compared to $703.9 million in the second quarter of fiscal 2015. Operating income was $133,030,000 against $130,555,000 a year ago. Income before income tax provision was $90,566,000 against $8,825,000 a year ago. For fiscal second quarter, higher operating income and the impact of share repurchases increased earnings per share by $0.02.
For the six months, the company reported total operating revenue of $1,381,736,000, operating income was $257,573,000, income before provision income tax provision of $210,595,000, net income attributable to company of $158,867,000 or $1.42 per diluted share, adjusted income of $228,431,000 or $2.03 per diluted share against total operating revenue of $1,397,776,000, operating income was $249,901,000, income before provision income tax provision of $123,093,000, net income attributable to company of $77,085,000 or $0.66 per diluted share, adjusted income of $147,813,000 or $1.26 per diluted share a year ago.
For the full fiscal year 2016, the company expected a cash tax rate of 5%.