Morningstar Incorporated

As stock market breaks records, Legg Mason Inc.'s shares hit yearly high

2013-03-15 16:14:52

Legg Mason Inc.'s stock, which has struggled to recover from the financial crisis, hit a new 52-week high last week. It could be a harbinger of a turnaround at the Baltimore-based money manager. Or Legg shares simply may be riding the recent record-...

Former Constellation CEO Shattuck retires from Exelon — but remains on its board

2013-03-15 17:31:40

Mayo A. Shattuck III, who coordinated the sale of two Baltimore institutions to out-of-state concerns and ran the region's power company for a volatile decade, has retired from the parent of Baltimore Gas and Electric Co. Chicago-based Exelon Corp. didn'...

Sullivan named Legg Mason CEO and president

2013-02-13 16:06:11

Legg Mason Inc. chose an insider as its new CEO, quelling speculation that the Baltimore-based money manager might be headed for a breakup that could have been bad news for the city. After a worldwide search for a new leader, Legg announced Wednesday...

Legg Mason reports loss of nearly $454 million

2013-02-01 15:54:44

Legg Mason Inc. reported Friday a $453.9 million loss for the third quarter, following a previously announced $734 million writedown of certain assets. On a per-share basis, the Baltimore-based money manager lost $3.45. For the corresponding quarter a...

Investment outlook for 2013 clouded by uncertainty

2012-12-28 19:53:00

Usually by early December, investment professionals have mapped out their outlook for the next year. But such forecasting has been made difficult by the "fiscal cliff" — the confluence of spending cuts and higher taxes that kick in automatically...

Storied Legg Mason unit to merge into New York sister subsidiary

2013-01-17 17:00:51

Legg Mason Inc. plans to lay off an undisclosed number of employees as it folds its once high-profile Legg Mason Capital Management unit in Baltimore into a much larger investment division based in New York. Capital Management rose to fame under star...

T. Rowe Price, Legg Mason get approval to launch active ETFs

2013-01-14 16:53:00

Baltimore-based money managers T. Rowe Price and Legg Mason Inc. may offer actively managed exchange-traded funds after receiving a thumbs up from regulators. The Securities and Exchange Commission approved Price's application earlier this month to be...

T. Rowe Price-managed college savings plans take home gold

2012-10-19 14:03:00

Two college savings plans managed by T. Rowe Price rank among the best in the country — the eighth time that the Baltimore-based investment firm has been included in Morningstar's annual survey of top plans. Only once — the year after the...

The departure of Legg Mason's CEO raises questions about its future

2012-09-14 21:02:53

The second CEO in Legg Mason's history announced last week he was stepping down, raising the question: What's next for the Baltimore-based money manager? Only the board — or more precisely, activist shareholder and Legg director Nelson Peltz &#...

Money managers confront turmoil in eurozone

2012-07-01 00:00:00

With all the upheaval in the eurozone and the promise of more to come, what's an investor to do? Kick anything vaguely European out of the 401(k)? Baltimore money managers T. Rowe Price and Legg Mason say they both have relatively low levels of...

Morningstar: Maryland's 529 plan one of the best

2011-11-09 07:37:00

Morningstar, the Chicago-based mutual fund tracker, released its annual report card on 529 college savings plans. The 529 plans of Maryland and Alaska, both managed by Baltimore’s T. Rowe Price, were ranked among the six best. (Both plans held the...

Constellation's three coal plants to find new owner by year's end

2012-04-27 19:56:00

While Constellation Energy Group has a new owner in Exelon Corp., 450 workers at three coal-fired plants once owned by the Baltimore company are in limbo. As a condition of its purchase of Constellation last month, the Chicago energy giant has...

Robert Morningstar of Essex sports a customized Preakness hat as he arrives for the 138th Preakness.

2013-05-18 00:00:00

The U-13 boys team from Locomotive FC recently finished second in the Elite Division of the Challenger Invitational soccer tournament in Manheim, Pa. The team scored 13 goals in winning three matches before losing the championship, 1-0, to Pipeline Soccer Club of Baltimore County.

2013-05-17 00:00:00

The Borough of Waynesboro (Pa.) on Thursday recognized individuals and organizations that contributed to a tree replanting project on Eighth Street.

2013-04-25 00:00:00