Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Legg Mason Inc (NYSE:LM) by 47.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,711 shares of the asset manager’s stock after purchasing an additional 1,518 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Legg Mason were worth $198,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Bessemer Group Inc. grew its position in Legg Mason by 219.1% during the 4th quarter. Bessemer Group Inc. now owns 4,499 shares of the asset manager’s stock worth $189,000 after acquiring an additional 3,089 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Legg Mason during the 3rd quarter worth $224,000. State of Alaska Department of Revenue bought a new stake in Legg Mason during the 4th quarter worth $247,000. Hutchens Investment Management Inc bought a new stake in Legg Mason during the 4th quarter worth $251,000. Finally, Janney Capital Management LLC bought a new stake in Legg Mason during the 3rd quarter worth $275,000. Institutional investors own 87.91% of the company’s stock.
Legg Mason Inc (NYSE LM) opened at $40.24 on Friday. Legg Mason Inc has a 52 week low of $34.10 and a 52 week high of $47.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.41 and a current ratio of 1.98. The firm has a market capitalization of $3,401.06, a P/E ratio of 11.90, a P/E/G ratio of 0.65 and a beta of 2.19.
Legg Mason (NYSE:LM) last posted its quarterly earnings results on Wednesday, January 24th. The asset manager reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.18. Legg Mason had a return on equity of 8.21% and a net margin of 11.43%. The business had revenue of $793.10 million for the quarter, compared to the consensus estimate of $777.11 million. During the same period in the prior year, the business earned $0.50 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. analysts anticipate that Legg Mason Inc will post 3.65 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 15th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Wednesday, March 14th. Legg Mason’s dividend payout ratio (DPR) is currently 30.77%.
Several research analysts have commented on the company. Royal Bank of Canada set a $49.00 target price on Legg Mason and gave the stock a “buy” rating in a report on Friday, December 15th. Zacks Investment Research raised Legg Mason from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Wednesday, November 8th. Credit Suisse Group lifted their target price on Legg Mason from $48.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. Citigroup reaffirmed a “hold” rating and set a $42.00 target price on shares of Legg Mason in a report on Tuesday, December 26th. Finally, Morgan Stanley lifted their target price on Legg Mason from $40.00 to $42.00 and gave the stock a “sell” rating in a report on Tuesday, January 30th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $45.91.
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Legg Mason Company Profile
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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