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Assets Keep Growing At Money Manager.(B)(NYSE STOCKS IN THE NEWS)
Byline: David Saito-Chung
Legg Mason bounded out of a long base on May 6 in heavy volume and rose 18% over the next four weeks. Since June 3, the stock has consolidated its gains the past five weeks.
The Baltimore-based asset manager, brokerage and investment bank is well known for its Legg Mason Value Trust mutual fund, which is managed by Bill Miller. In the March quarter, Legg Mason's total assets under management increased by $7.5 billion during the quarter to a record $192.2 billion. In the past three years, assets managed have ballooned by over $80 billion.
During fiscal 2003, ...
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