Legg Mason (LM) Price Target Raised to $49.00 at Deutsche Bank

Legg Mason (NYSE:LM) had its price target raised by Deutsche Bank from $46.00 to $49.00 in a report released on Friday. Deutsche Bank currently has a buy rating on the asset manager’s stock.

Other analysts have also issued reports about the company. Royal Bank of Canada set a $49.00 price target on Legg Mason and gave the stock a buy rating in a research note on Friday, December 15th. Zacks Investment Research raised Legg Mason from a hold rating to a buy rating and set a $44.00 price target on the stock in a research note on Tuesday, April 3rd. Citigroup reaffirmed a hold rating and issued a $42.00 price target on shares of Legg Mason in a research note on Tuesday, December 26th. Jefferies Group lowered Legg Mason from a buy rating to a hold rating in a research note on Wednesday, January 10th. Finally, Credit Suisse Group lowered Legg Mason from an outperform rating to a neutral rating and set a $49.00 price target on the stock. in a research note on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $47.00.

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Shares of LM opened at $39.52 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.58. Legg Mason has a 12 month low of $35.86 and a 12 month high of $47.13. The company has a market capitalization of $3,341.03, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 0.62 and a beta of 2.05.

Legg Mason (NYSE:LM) last issued its quarterly earnings data on Wednesday, January 24th. The asset manager reported $1.58 EPS for the quarter, beating the consensus estimate of $1.40 by $0.18. The company 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%. Legg Mason’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company earned $0.50 earnings per share. research analysts anticipate that Legg Mason will post 3.65 earnings per share for the current 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 paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Wednesday, March 14th. Legg Mason’s dividend payout ratio (DPR) is currently 33.73%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. raised its position in Legg Mason by 3.4% in the third quarter. Asset Management One Co. Ltd. now owns 40,298 shares of the asset manager’s stock valued at $1,586,000 after purchasing an additional 1,339 shares during the period. First Allied Advisory Services Inc. raised its position in Legg Mason by 21.0% in the fourth quarter. First Allied Advisory Services Inc. now owns 8,110 shares of the asset manager’s stock valued at $341,000 after purchasing an additional 1,408 shares during the period. Bank of Montreal Can raised its position in Legg Mason by 20.9% in the fourth quarter. Bank of Montreal Can now owns 8,215 shares of the asset manager’s stock valued at $345,000 after purchasing an additional 1,421 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Legg Mason by 47.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,711 shares of the asset manager’s stock valued at $198,000 after purchasing an additional 1,518 shares during the period. Finally, Bessemer Group Inc. raised its position in Legg Mason by 219.1% in the fourth quarter. Bessemer Group Inc. now owns 4,499 shares of the asset manager’s stock valued at $189,000 after purchasing an additional 3,089 shares during the period. 91.45% of the stock is currently owned by institutional investors.

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About Legg Mason

Legg Mason, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides investment management and related services to company-sponsored mutual funds and other investment vehicles including pension funds, foundations, endowments, sovereign wealth funds, insurance companies, private banks, family offices, individuals, as well as to global, institutional, and retail clients.

Analyst Recommendations for Legg Mason (NYSE:LM)

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