Company profile

Joseph Andrew Sullivan
Incorporated in
Fiscal year end
Industry (SEC)
Former names
Legg Mason Inc
IRS number

LM stock data


Investment data

Data from SEC filings
Holdings list only includes long positions. Only includes long positions.


29 May 20
10 Jul 20
31 Mar 21


Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 719.59M 753.91M 743.26M 705.36M
Net income
Diluted EPS
Cash on hand
Annual (USD) Mar 20 Mar 19 Mar 18 Mar 17
Revenue 2.92B 2.9B 3.14B 2.89B
Net income 336.35M
Diluted EPS
Net profit margin 10.71%
Net change in cash 63M
Cash on hand 438M

Financial data from Legg Mason earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
26 Jun 20 Quirk Alison A. Common Stock Gift Dispose G No 0 1,008 0 6,229
26 Jun 20 Thomas C Merchant Common Stock Gift Dispose G No 0 1,000 0 92,269.63
10 Jun 20 Sullivan Joseph A Common Stock Sell Dispose S No 49.98 648,178 32.4M 702,645.52
10 Jun 20 Sullivan Joseph A Common Stock Option exercise Aquire M No 31.46 202,861 6.38M 1,350,823.52
10 Jun 20 Sullivan Joseph A Common Stock Option exercise Aquire M No 35.16 44,518 1.57M 1,147,962.52
10 Jun 20 Sullivan Joseph A Common Stock Option exercise Aquire M No 47.64 149,290 7.11M 1,103,444.52
10 Jun 20 Sullivan Joseph A Common Stock Option exercise Aquire M No 31.24 211,735 6.61M 954,154.52
10 Jun 20 Sullivan Joseph A Common Stock Option exercise Aquire M No 37.64 149,460 5.63M 742,419.52
10 Jun 20 Sullivan Joseph A Stock Options Common Stock Option exercise Dispose M No 31.46 202,861 6.38M 0
10 Jun 20 Sullivan Joseph A Stock Options Common Stock Option exercise Dispose M No 35.16 44,518 1.57M 0
92.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 315 348 -9.5%
Opened positions 77 56 +37.5%
Closed positions 110 44 +150.0%
Increased positions 67 116 -42.2%
Reduced positions 116 113 +2.7%
13F shares
Current Prev Q Change
Total value 65.43B 11.75B +456.9%
Total shares 81.84M 75.35M +8.6%
Total puts 209.3K 82.5K +153.7%
Total calls 32.9K 160.4K -79.5%
Total put/call ratio 6.4 0.5 +1136.9%
Largest owners
Shares Value Change
Vanguard 8.22M $401.72M +5.1%
BLK BlackRock 7.49M $365.69M -9.7%
Trian Fund Management 3.88M $189.62M 0.0%
Dimensional Fund Advisors 3.66M $178.98M -1.5%
GS The Goldman Sachs Group, Inc. 3.01M $147.25M +319.7%
CS Credit Suisse 2.88M $140.62M +891.6%
Renaissance Technologies 2.48M $120.93M +104.2%
LSV Asset Management 2.41M $117.94M -27.0%
STT State Street 2.11M $104.03M -2.8%
C Citigroup 2M $97.57M +1536.8%
Largest transactions
Shares Bought/sold Change
Clarkston Capital Partners 0 -4.68M EXIT
CS Credit Suisse 2.88M +2.59M +891.6%
GS The Goldman Sachs Group, Inc. 3.01M +2.3M +319.7%
Pentwater Capital Management 1.95M +1.95M NEW
Carlson Capital L P 1.95M +1.95M NEW
C Citigroup 2M +1.88M +1536.8%
Citadel Advisors 117.9K -1.85M -94.0%
APG Asset Management 4.34K -1.76M -99.8%
Westchester Capital Management 1.67M +1.67M NEW
GBL Gamco Investors, Inc. Et Al 40.06K -1.6M -97.6%

Financial report summary

  • Regulatory Approvals May Not be Received, May Take Longer Than Expected or May Impose Conditions That Are Not Presently Anticipated or Cannot be Met.
  • Failure of the Merger to be Completed, the Termination of the Merger Agreement or a Significant Delay in the Consummation of the Merger could Negatively Impact Us.
  • We Will be Subject to Business Uncertainties and Contractual Restrictions While the Merger is Pending.
  • Litigation Against Us or Franklin Templeton, or the Members of Our or Franklin Templeton Board of Directors, Could Prevent or Delay the Completion of the Merger.
  • Poor Investment Performance Could Lead to a Loss of Assets Under Management and a Decline in Revenues
  • Increased Geopolitical Unrest and Other Events Outside Of Our Control Could Adversely Affect the Global Economy or Specific International, Regional and Domestic Markets, Which May Cause Our AUM, Revenue and Earnings to Decline.
  • Assets Under Management May Be Withdrawn, Which May Reduce Our Revenues and Net Income
  • If We Are Unable to Maintain Our Fee Levels or If Our Asset Mix Changes, our Revenues and Margins Could Be Reduced
  • Our Mutual Fund Management Contracts May Not Be Renewed, Which May Reduce our Revenues and Net Income
  • Unavailability of Appropriate Investment Opportunities Could Hamper our Investment Performance or Growth
  • Changes in Securities Markets and Prices May Affect our Revenues and Net Income
  • Changes in Interest Rates Could Have Adverse Effects on our Assets Under Management
  • Competition in the Asset Management Industry Could Reduce our Revenues and Net Income
  • Failure to Properly Address the Increased Transformative Pressures Affecting the Asset Management Industry Could Negatively Impact our Business
  • We May Support Government and Retail Money Market Funds to Maintain Their Stable Net Asset Values, or Other Products We Manage, Which Could Affect our Revenues or Operating Results
  • Failure to Comply With Contractual Requirements or Guidelines Could Result in Liability and Loss of Assets Under Management, Both of Which Could Cause our Net Income to Decline
  • The Soundness of Other Financial Institutions Could Adversely Affect our Business
  • Performance-Based Fee Arrangements May Increase the Volatility of our Revenues
  • We Rely Significantly on Third Parties to Distribute Mutual Funds and Certain Other Products
  • Our Funds-of-Hedge Funds Business Entails a Number of Additional Risks
  • Our Leverage May Affect our Business and May Restrict our Operating Results
  • If our Reputation is Harmed, We Could Suffer Losses in our Business, Revenues and Net Income
  • Failure to Properly Address Conflicts of Interest Could Harm our Reputation, Business and Results of Operations
  • Loss of Key Personnel Could Harm our Business
  • Our Business is Subject to Numerous Operational Risks
  • Failure to implement effective information and cybersecurity policies, procedures and capabilities could disrupt operations and cause financial losses
  • Failure to Establish Adequate Controls and Risk Management Policies, or the Circumvention of Controls And Policies Could Have an Adverse Effect on our Reputation and Financial Position.
  • We May Incur Right of Use Asset Impairment Charges Related to Leased Facilities
  • Potential Impairment of Goodwill and Intangible Assets Could Increase our Expenses and Reduce our Assets
  • Our Deferred Tax Assets May Not Be Fully Realizable
  • We Are Exposed to a Number of Risks Arising From our International Operations
  • Regulatory Matters May Negatively Affect our Business and Results of Operations
  • Our Business Involves Risks of Being Engaged in Litigation, Regulatory Proceedings and Tax Disputes, Which May Result in Liability That Could Increase our Expenses and Reduce our Net Income
  • Insurance May Not Be Available on a Cost-Effective Basis to Protect us From Liability
Management Discussion
  • In accordance with financial accounting standards on consolidation, we consolidate and separately identify amounts relating to certain sponsored investment products. The consolidation of these investment products has no impact on Net Income (Loss) Attributable to Legg Mason, Inc. and does not have a material impact on our consolidated operating results. To the extent we have an investment in a consolidated investment product, the related gains and losses will impact Net Income (Loss) Attributable to Legg Mason, Inc. See Notes 1 and 20 of Notes to Consolidated Financial Statements for additional information regarding the consolidation of investment products.
  • Total Operating Revenues for the year ended March 31, 2020, increased 1% to $2.92 billion, as compared to $2.90 billion for the year ended March 31, 2019, primarily due to an increase in investment advisory fees from separate accounts and funds, reflecting higher average AUM, and an increase of $21.2 million in performance fees that were not passed through as compensation expense. These increases were offset in part by a $32.6 million decrease in distribution and servicing fees, reflecting a shift to lower fee earning mutual fund share classes and lower average fund AUM earning distribution fees, and a $7.1 million decrease in performance fees that were passed through as compensation expense.
  • Total Operating Revenues for the year ended March 31, 2019, were $2.90 billion, a decrease of 8% from $3.14 billion for the year ended March 31, 2018. The decrease was primarily due to a $142.9 million decrease in performance fees, $83.2 million of which was in performance fees that are not passed through as compensation expense, as further discussed below. A decrease in our operating revenue yield to 38 basis points for the year ended March 31, 2019, from 39 basis points for the year ended March 31, 2018, also contributed to the decrease.
Content analysis ?
H.S. sophomore Avg
New words: Accidental, Alex, Alison, Allergan, AllianceBernstein, Alpha, American, Andersen, Angelica, anonymously, Anthony, Aon, Arby, arena, Arthur, Asian, asserted, assist, assisting, attendance, attention, ATTIMCO, augment, aware, banker, baseline, Beverage, biographical, birthday, BlackRock, Boulevard, breadth, BRL, Brossy, Brown, BT, burden, Carol, catastrophic, Century, CEO, certification, certified, chain, chairman, challenged, challenging, charter, Chartered, cited, claimant, College, color, Columbia, column, combat, competitor, complaint, consecutive, contacted, contrary, conviction, counter, coupled, COVID, Creek, cultural, customarily, cybersecurity, Davidson, DaVita, decree, Dell, description, Deutsche, dialogue, diligence, disease, dishonesty, disloyalty, Dismemberment, displaying, disposing, disregard, dissolution, divert, drawdown, drop, DST, duty, easier, Eastman, Eaton, eCommerce, Embark, embezzlement, emphasizing, energy, ensuing, epidemic, ESPP, excessive, fear, feedback, fell, felony, food, foreseen, forfeiture, Fortune, Foundation, Fractional, fragmentation, framed, Franklin, fulltime, Gamble, GBP, Geopolitical, Goldberg, GP, grace, graduated, grandfathered, guided, hamburger, Hampshire, handling, Harvard, health, Heinz, Hewitt, history, Hooley, hotline, Huff, IFD, IFR, IFSInvest, Ignition, illegal, implicit, inappropriate, influential, injunction, injunctive, instill, instructed, Intelligence, internet, intraperiod, Inv, Invesco, invitation, irrevocable, isolation, Kodak, lawsuit, leadership, learning, ledger, lessor, Liberty, lieu, lifestyle, link, linkage, linked, Linking, living, loyalty, LP, lump, macroeconomic, Madison, malfeasance, Malvern, MassMutual, McLagan, media, median, Medicare, Mellon, membership, merit, metric, Michelle, midway, mirror, Mondelez, motivate, MSG, Murphy, nearest, negligence, North, NY, optimize, outbreak, outreach, overlapping, oversaw, overtime, overwhelmingly, PA, page, pandemic, panic, pathogenic, payout, Pechiney, pendency, Pentair, perquisite, philosophy, plant, plc, pledging, Plum, plunging, population, possession, precaution, precautionary, prioritize, Procter, proper, PSU, pursuit, Quantifieed, Quirk, rapid, rapidly, rata, reaction, recalled, recessionary, recipient, redesigned, Reed, reject, relocation, remote, remotely, reorganization, repricing, respiratory, restaurant, restraining, Revamped, reward, Richardson, Robert, robust, rotation, ROU, Rowe, safer, safety, saving, scenario, scheme, Schmoke, scorecard, Semler, seventeen, Seventy, sixty, smallest, snacking, Snapple, SoGal, split, spread, stage, statute, steep, Stephen, Stericycle, stimulate, stipend, strive, subtracting, successor, Suisse, superior, supermajority, supply, survey, surviving, Sysco, tally, Taubman, TE, Templeton, tension, thereto, thoughtfully, tie, tightly, Timber, timeline, traditionally, Tree, Triangle, Triarc, TSR, twelve, twenty, Tyco, unanimously, unethical, unforeseeable, unprecedented, USD, Vance, Vanguard, Walker, welfare, Wendy, Weyerhaeuser, widespread, withdrew, withheld, women, Wood, workforce, xiii
Removed: accomplish, adherence, amortizing, approximating, articulated, boutique, branding, chapter, Charlotte, check, complementary, complying, convertible, deadline, delinquent, deter, directed, distort, diversifying, encounter, escalation, Eurozone, existence, explore, extended, Fargo, feature, filer, forecasted, forma, geography, honest, informational, Interactive, Kenney, landlord, launching, lessee, main, managerial, mark, mature, mixed, moderate, Nomination, outlook, Paulo, pocket, Poland, posted, presidential, prompt, realistic, refinanced, regulating, rejoined, removed, replaced, replenish, Schliessler, seasoned, secured, seller, sensitivity, shell, shorter, show, side, site, solving, submitted, substitute, suitable, telephone, tenant, unaudited, underperform, understandable, Ursula, utility, Wachovia, Web