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Article: Legg Mason growth doesn't curb selling.(BUSINESS)(YOUR MONEY: STOCK VIEW)
- Article from:
- The Washington Times (Washington, DC)
- Article date:
- May 11, 2004
CopyrightCOPYRIGHT 2004 The Washington Times LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Tim Lemke, THE WASHINGTON TIMES
Greater activity in the stock market has helped give Legg Mason one of its strongest quarters on record, as more people pay to have their investments managed by the Baltimore company.
Legg Mason last week reported record revenue and net income for the first three months of this year, and said it is managing 50 percent more assets than at this point last year.
Despite the improvement, investors sold off Legg Mason shares yesterday over fears that the Federal Reserve will raise interest rates as early as next month. And analysts said the company's share price was high enough to garner a tidy profit, and that ...