Nelson Peltz has hiked his stake in Legg Mason. The activist investor purchased an additional 717,000 shares last week, bringing his holdings to nearly 7.7 million shares, or 4.75 percent, The Baltimore Sun reports.

Peltz secured a seat on Legg's board this fall after accumulating a 4.3 percent stake in the firm. 

Edited by: Armie Margaret Lee


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