Analysts at Deutsche Bank AG began coverage on shares of Legg Mason Inc (NYSE:LM) in a research note issued on Tuesday, October 17th. The firm set a “buy” rating and a $44.00 price target on the asset manager’s stock. Deutsche Bank AG’s price objective would suggest a potential upside of 13.70% from the stock’s current price.
A number of other equities analysts have also recently issued reports on LM. BidaskClub upgraded shares of Legg Mason from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 21st. Royal Bank Of Canada started coverage on shares of Legg Mason in a research report on Thursday, June 29th. They issued an “outperform” rating and a $45.00 price objective on the stock. Zacks Investment Research raised shares of Legg Mason from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. TheStreet raised shares of Legg Mason from a “c+” rating to a “b” rating in a research note on Friday, June 30th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $47.00 target price on shares of Legg Mason in a research note on Sunday, July 9th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Legg Mason presently has a consensus rating of “Hold” and a consensus target price of $43.11.
Shares of Legg Mason (LM) traded down 0.03% during mid-day trading on Tuesday, reaching $38.69. 131,088 shares of the company’s stock were exchanged. The stock has a market cap of $3.62 billion, a PE ratio of 16.08 and a beta of 2.22. Legg Mason has a one year low of $28.10 and a one year high of $42.08. The company has a 50 day moving average price of $38.14 and a 200-day moving average price of $38.25.
Legg Mason (NYSE:LM) last released its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.10. Legg Mason had a net margin of 8.00% and a return on equity of 4.96%. The firm had revenue of $768.30 million for the quarter, compared to analysts’ expectations of $739.47 million. During the same quarter in the previous year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts predict that Legg Mason will post $2.26 EPS for the current year.
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A number of large investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC boosted its stake in Legg Mason by 0.7% during the second quarter. Neuberger Berman Group LLC now owns 6,857 shares of the asset manager’s stock worth $262,000 after acquiring an additional 47 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in Legg Mason by 2.7% during the second quarter. Oppenheimer & Co. Inc. now owns 6,904 shares of the asset manager’s stock worth $263,000 after acquiring an additional 183 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Legg Mason by 10.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,193 shares of the asset manager’s stock worth $122,000 after acquiring an additional 294 shares in the last quarter. Cambria Investment Management L.P. boosted its stake in Legg Mason by 1.2% during the first quarter. Cambria Investment Management L.P. now owns 32,155 shares of the asset manager’s stock worth $1,161,000 after acquiring an additional 393 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Legg Mason by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 22,300 shares of the asset manager’s stock worth $851,000 after acquiring an additional 400 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.
About Legg Mason
Legg Mason, Inc is a holding company. The Company and its subsidiaries are principally engaged in providing asset management and related financial services to individuals, institutions, corporations and municipalities. The Company operates through Global Asset Management segment. Global Asset Management provides investment advisory services to institutional and individual clients and to the Company-sponsored investment funds.
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