Kendall Capital Management purchased a new stake in Legg Mason Inc (NYSE:LM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 54,308 shares of the asset manager’s stock, valued at approximately $2,280,000. Legg Mason accounts for 2.0% of Kendall Capital Management’s investment portfolio, making the stock its 11th biggest position. Kendall Capital Management owned 0.06% of Legg Mason at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LM. BlackRock Inc. increased its holdings in shares of Legg Mason by 8.9% during the fourth quarter. BlackRock Inc. now owns 7,968,793 shares of the asset manager’s stock worth $334,532,000 after buying an additional 652,719 shares in the last quarter. LSV Asset Management increased its stake in shares of Legg Mason by 23.1% during the 4th quarter. LSV Asset Management now owns 3,469,278 shares of the asset manager’s stock worth $145,640,000 after purchasing an additional 650,160 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Legg Mason by 164.8% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 514,812 shares of the asset manager’s stock worth $20,236,000 after purchasing an additional 320,376 shares during the last quarter. Seminole Management Co. Inc. purchased a new stake in shares of Legg Mason during the 4th quarter worth approximately $12,966,000. Finally, AXA increased its stake in shares of Legg Mason by 102.9% during the 4th quarter. AXA now owns 514,100 shares of the asset manager’s stock worth $21,581,000 after purchasing an additional 260,700 shares during the last quarter. 91.53% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Legg Mason Inc (NYSE LM) traded up $0.38 during trading hours on Friday, hitting $41.38. 1,282,633 shares of the company were exchanged, compared to its average volume of 718,378. Legg Mason Inc has a 12-month low of $34.10 and a 12-month high of $47.13. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $3,498.27, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 0.67 and a beta of 2.16.
Legg Mason (NYSE:LM) last posted its earnings results on Wednesday, January 24th. The asset manager reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.18. Legg Mason had a net margin of 11.43% and a return on equity of 8.21%. The business had revenue of $793.10 million for the quarter, compared to the consensus estimate of $777.11 million. During the same quarter last year, the firm posted $0.50 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. equities research analysts anticipate that Legg Mason Inc will post 3.65 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.12 annualized dividend and a dividend yield of 2.71%. Legg Mason’s payout ratio is 30.77%.
LM has been the subject of several research analyst reports. Deutsche Bank decreased their price target on shares of Legg Mason from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, March 6th. Royal Bank of Canada set a $49.00 price target on shares of Legg Mason and gave the company a “buy” rating in a research report on Friday, December 15th. Citigroup reissued a “hold” rating and set a $42.00 price objective on shares of Legg Mason in a research note on Tuesday, December 26th. Jefferies Group lowered shares of Legg Mason from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, Credit Suisse Group lowered shares of 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. Two equities 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 assigned a strong buy rating to the stock. The company currently has an average 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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