Legg Mason: Exec Insiders and Funds Supporting Shares in Q3

Insiders are generally long-term investors due to restriction in making short-term profits. In contrast, wealth management institutions always have short-term investment. Wall St. Watchdog reveals information regarding the insiders and institutions which recently increased stock shares of Legg Mason Inc. (NYSE:LM).

SEC data indicate these insiders have bought Legg Mason Inc.’s stock since 06/30/2011:

  • Peltz Nelson: act as Director. On 08/03/2011, bought 2,651,000 shares, worth $76,507,900.
  • Peltz Nelson: act as Director. On 08/04/2011, bought 790,000 shares, worth $22,167,400.
  • Cahill John T: act as Director. On 08/01/2011, bought 10,000 shares, worth $293,000.
  • Cahill John T: act as Director. On 08/08/2011, bought 10,000 shares, worth $249,300.
  • Lemke Thomas P: act as Executive VP & General Counsel. On 09/09/2011, bought 4,000 shares, worth $105,600.

SEC data indicate that these institutions significantly increased their stock shares of Legg Mason Inc. in Q3 2011:

  • MASON CAPITAL MANAGEMENT LLC: On 06/30/2011, held 0 shares. On 09/30/2011, held 4,003,637 shares, worth $102,573,180.
  • GREENLIGHT CAPITAL INC: On 06/30/2011, held 0 shares. On 09/30/2011, held 2,600,000 shares, worth $66,612,000.
  • MORGAN STANLEY: On 06/30/2011, held 0 shares. On 09/30/2011, held 375,411 shares, worth $9,618,030.
  • LOS ANGELES CAPITAL MANAGEMENT & EQUITY RESEARCH INC: On 06/30/2011, held 0 shares. On 09/30/2011, held 267,392 shares, worth $6,850,583.
  • COMMERZBANK AKTIENGESELLSCHAFT /FI: On 06/30/2011, held 0 shares. On 09/30/2011, held 126,619 shares, worth $3,243,979.

About the company: Legg Mason, Inc. is a global asset management company. The Company, through its subsidiaries, provides investment management and related services to institutional and individual clients, company-sponsored mutual funds and other pooled investment vehicles.

Competitors to Watch: AllianceBernstein Holding LP (NYSE:AB), Westwood Hldgs. Group, Inc. (NYSE:WHG), Diamond Hill Investment Group, Inc. (NASDAQ:DHIL), Epoch Holding Corp (NASDAQ:EPHC), Morgan Stanley (NYSE:MS), Goldman Sachs (NYSE:GS), JP Morgan (NYSE:JPM), Citigroup (NYSE:C), Bank of America (NYSE:BAC), Pzena Investment Management, Inc. (NYSE:PZN), Artio Global Investors Inc. (NYSE:ART), Sanders Morris Harris Group (NASDAQ:SMHG), The Blackstone Group L.P. (NYSE:BX), and Affiliated Managers Group, Inc. (NYSE:AMG).

(Note: Data regarding Legg Mason Inc.’s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)

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