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Legg Mason CEO's Salary Declines for the 3rd Successive Year
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Per the proxy filled by Legg Mason, Inc. on Jun 14, its CEO Joseph A. Sullivan’s compensation for fiscal 2017 has been reduced by nearly 12%. This marks thethird consecutive year ofdecline in his salary.
Sullivan’s pay package of $8.93 million included $0.5 million base salary with cash bonus of $3.32 million. The decline is mainly due to lower stock and option award. The stock award amounted to $3.32 million while option awards were $1.66 million, down 21% from the previous year.
The Baltimore-based investment manager reported profits for fiscal 2017 as against loss incurred in the previous year. Despite that, its many top executives have seen pay cuts, as the compensation committee feels that the company has still not reached the previous performance mark.
In its filing, the committee stated that fiscal 2017 was a "year of strategic progress.”It also noted that the industry saw several changes to which the company responded by diversifying its product range through acquisitions and launch of new products.
Legg Mason’s shares have gained 28.0% over the last one year, outperforming the Zacks categorized Financial - Investment Management industry’s rally of 22.3%.
CHART
Currently, the stock carries Zacks Rank #4 (Sell).
Some better-ranked stocks in the same space include Lakeland Bancorp, Inc. (LBAI - Free Report) , Franklin Resources, Inc. (BEN - Free Report) and Lazard Ltd. (LAZ - Free Report) . All these hold a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Lakeland has witnessed an upward earnings estimate revision of 2.8% for the current year, in the past 60 days. Also, its share price jumped 80.6%, over the last one year.
Franklin’s earnings estimates have been revised upward by 3.6% for the current year, in the past 60 days. Also, over the last one year, its share price gained 36.6%.
Lazard has witnessed an upward earnings estimate revision of 3.3% for the current year, in the past 60 days. Its share price has gained 41.9% over the last one year.
3 Stocks to Ride a 588% Revenue Explosion
At Zacks, we're mostly focused on short-term profit cycles, but the hottest of all technology mega-trends is starting to take hold...
By last year, it was already generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for those who make the right trades early. See Zacks' Top 3 Stocks to Ride This Space >>
Per the proxy filled by Legg Mason, Inc. on Jun 14, its CEO Joseph A. Sullivan’s compensation for fiscal 2017 has been reduced by nearly 12%. This marks thethird consecutive year ofdecline in his salary.
Sullivan’s pay package of $8.93 million included $0.5 million base salary with cash bonus of $3.32 million. The decline is mainly due to lower stock and option award. The stock award amounted to $3.32 million while option awards were $1.66 million, down 21% from the previous year.
The Baltimore-based investment manager reported profits for fiscal 2017 as against loss incurred in the previous year. Despite that, its many top executives have seen pay cuts, as the compensation committee feels that the company has still not reached the previous performance mark.
In its filing, the committee stated that fiscal 2017 was a "year of strategic progress.”It also noted that the industry saw several changes to which the company responded by diversifying its product range through acquisitions and launch of new products.
Legg Mason’s shares have gained 28.0% over the last one year, outperforming the Zacks categorized Financial - Investment Management industry’s rally of 22.3%.
CHART
Currently, the stock carries Zacks Rank #4 (Sell).
Some better-ranked stocks in the same space include Lakeland Bancorp, Inc. (LBAI - Free Report) , Franklin Resources, Inc. (BEN - Free Report) and Lazard Ltd. (LAZ - Free Report) . All these hold a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Lakeland has witnessed an upward earnings estimate revision of 2.8% for the current year, in the past 60 days. Also, its share price jumped 80.6%, over the last one year.
Franklin’s earnings estimates have been revised upward by 3.6% for the current year, in the past 60 days. Also, over the last one year, its share price gained 36.6%.
Lazard has witnessed an upward earnings estimate revision of 3.3% for the current year, in the past 60 days. Its share price has gained 41.9% over the last one year.
3 Stocks to Ride a 588% Revenue Explosion
At Zacks, we're mostly focused on short-term profit cycles, but the hottest of all technology mega-trends is starting to take hold...
By last year, it was already generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for those who make the right trades early. See Zacks' Top 3 Stocks to Ride This Space >>
Per the proxy filled by Legg Mason, Inc. on Jun 14, its CEO Joseph A. Sullivan’s compensation for fiscal 2017 has been reduced by nearly 12%. This marks the third consecutive year of decline in his salary.
Sullivan’s pay package of $8.93 million included $0.5 million base salary with cash bonus of $3.32 million. The decline is mainly due to lower stock and option award. The stock award amounted to $3.32 million while option awards were $1.66 million, down 21% from the previous year.
The Baltimore-based investment manager reported profits for fiscal 2017 as against loss incurred in the previous year. Despite that, its many top executives have seen pay cuts, as the compensation committee feels that the company has still not reached the previous performance mark.
In its filing, the committee stated that fiscal 2017 was a "year of strategic progress.” It also noted that the industry saw several changes to which the company responded by diversifying its product range through acquisitions and launch of new products.
Legg Mason’s shares have gained 28.0% over the last one year, outperforming the Zacks categorized Financial - Investment Management industry’s rally of 22.5%.
Currently, the stock carries a Zacks Rank #4 (Sell).
Lakeland has witnessed an upward earnings estimate revision of 2.8% for the current year, in the past 60 days. Also, its share price jumped 80.6%, over the last one year.
Franklin’s earnings estimates have been revised upward by 3.6% for the current year, in the past 60 days. Also, over the last one year, its share price gained 36.6%.
Lazard has witnessed an upward earnings estimate revision of 3.3% for the current year, in the past 60 days. Its share price has gained 41.9% over the last one year.
3 Stocks to Ride a 588% Revenue Explosion
At Zacks, we're mostly focused on short-term profit cycles, but the hottest of all technology mega-trends is starting to take hold...
By last year, it was already generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for those who make the right trades early. See Zacks' Top 3 Stocks to Ride This Space >>
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Legg Mason CEO's Salary Declines for the 3rd Successive Year
Per the proxy filled by Legg Mason, Inc. on Jun 14, its CEO Joseph A. Sullivan’s compensation for fiscal 2017 has been reduced by nearly 12%. This marks the third consecutive year of decline in his salary.
Sullivan’s pay package of $8.93 million included $0.5 million base salary with cash bonus of $3.32 million. The decline is mainly due to lower stock and option award. The stock award amounted to $3.32 million while option awards were $1.66 million, down 21% from the previous year.
The Baltimore-based investment manager reported profits for fiscal 2017 as against loss incurred in the previous year. Despite that, its many top executives have seen pay cuts, as the compensation committee feels that the company has still not reached the previous performance mark.
In its filing, the committee stated that fiscal 2017 was a "year of strategic progress.” It also noted that the industry saw several changes to which the company responded by diversifying its product range through acquisitions and launch of new products.
Legg Mason’s shares have gained 28.0% over the last one year, outperforming the Zacks categorized Financial - Investment Management industry’s rally of 22.5%.
Currently, the stock carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the same space include Lakeland Bancorp, Inc. (LBAI - Free Report) , Franklin Resources, Inc. (BEN - Free Report) and Lazard Ltd. (LAZ - Free Report) . All these hold a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Lakeland has witnessed an upward earnings estimate revision of 2.8% for the current year, in the past 60 days. Also, its share price jumped 80.6%, over the last one year.
Franklin’s earnings estimates have been revised upward by 3.6% for the current year, in the past 60 days. Also, over the last one year, its share price gained 36.6%.
Lazard has witnessed an upward earnings estimate revision of 3.3% for the current year, in the past 60 days. Its share price has gained 41.9% over the last one year.
3 Stocks to Ride a 588% Revenue Explosion
At Zacks, we're mostly focused on short-term profit cycles, but the hottest of all technology mega-trends is starting to take hold...
By last year, it was already generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for those who make the right trades early. See Zacks' Top 3 Stocks to Ride This Space >>