Quantitative Investment Management LLC raised its stake in shares of Legg Mason Inc (NYSE:LM) by 167.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,500 shares of the asset manager’s stock after buying an additional 44,100 shares during the period. Quantitative Investment Management LLC owned 0.08% of Legg Mason worth $2,959,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisors Preferred LLC bought a new position in Legg Mason during the fourth quarter valued at about $162,000. Bessemer Group Inc. raised its holdings in Legg Mason by 219.1% during the fourth quarter. Bessemer Group Inc. now owns 4,499 shares of the asset manager’s stock valued at $189,000 after buying an additional 3,089 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Legg Mason by 47.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,711 shares of the asset manager’s stock valued at $198,000 after buying an additional 1,518 shares in the last quarter. Murphy Pohlad Asset Management LLC bought a new position in Legg Mason during the fourth quarter valued at about $205,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Legg Mason during the third quarter valued at about $224,000. Institutional investors own 91.53% of the company’s stock.
Legg Mason Inc (NYSE:LM) opened at $41.38 on Friday. Legg Mason Inc has a 12 month low of $34.10 and a 12 month 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 stock has a market capitalization of $3,466.15, a PE ratio of 12.13, a P/E/G ratio of 0.66 and a beta of 2.16.
Legg Mason (NYSE:LM) last issued its quarterly earnings results on Wednesday, January 24th. The asset manager reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.18. The firm had revenue of $793.10 million for the quarter, compared to analyst estimates of $777.11 million. Legg Mason had a return on equity of 8.21% and a net margin of 11.43%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 earnings per share. equities analysts anticipate that Legg Mason Inc will post 3.65 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Wednesday, March 14th. Legg Mason’s payout ratio is 30.77%.
A number of equities analysts have recently commented on LM shares. Credit Suisse Group lowered Legg Mason from an “outperform” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a research note on Wednesday, January 3rd. Royal Bank of Canada lifted their price objective on Legg Mason to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Morgan Stanley lifted their price objective on Legg Mason from $40.00 to $42.00 and gave the stock a “sell” rating in a research note on Tuesday, January 30th. Citigroup reiterated a “hold” rating and issued a $42.00 price objective on shares of Legg Mason in a research note on Tuesday, December 26th. Finally, Bank of America lifted their price objective on Legg Mason from $42.00 to $44.00 and gave the stock an “underperform” rating in a research note on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Legg Mason presently has a consensus rating of “Hold” and a consensus target price of $47.10.
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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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