Legg Mason (NYSE:LM) had its price objective boosted by equities research analysts at Barclays from $41.00 to $42.00 in a report released on Thursday. The firm presently has an “equal weight” rating on the asset manager’s stock. Barclays’ target price suggests a potential upside of 9.49% from the company’s current price.
LM has been the subject of a number of other reports. Morgan Stanley decreased their price objective on Legg Mason from $42.00 to $40.00 and set an “underweight” rating for the company in a research report on Tuesday, April 10th. Deutsche Bank raised their price objective on Legg Mason from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, April 6th. Citigroup restated a “neutral” rating and set a $50.00 price objective (up from $49.00) on shares of Legg Mason in a research report on Thursday, January 25th. Zacks Investment Research lowered Legg Mason from a “hold” rating to a “sell” rating in a research report on Tuesday, April 17th. Finally, ValuEngine lowered Legg Mason from a “buy” rating to a “hold” rating in a research report on Thursday, April 12th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Legg Mason has an average rating of “Hold” and an average price target of $47.10.
NYSE LM traded up $0.71 during trading on Thursday, reaching $38.36. 240,124 shares of the company’s stock were exchanged, compared to its average volume of 891,253. Legg Mason has a fifty-two week low of $36.10 and a fifty-two week high of $47.13. The firm has a market capitalization of $3,162.65, a PE ratio of 11.55, a PEG ratio of 0.66 and a beta of 2.05. 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 (NYSE:LM) last announced its quarterly earnings data on Wednesday, April 25th. The asset manager reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.15. Legg Mason had a return on equity of 8.21% and a net margin of 11.43%. The firm had revenue of $785.10 million during the quarter, compared to analyst estimates of $755.98 million. During the same period last year, the company posted $0.76 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. research analysts anticipate that Legg Mason will post 3.61 EPS for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of LM. Advisors Preferred LLC purchased a new stake in shares of Legg Mason during the 4th quarter worth about $162,000. Bessemer Group Inc. raised its stake in shares of 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 purchasing an additional 3,089 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Legg Mason by 47.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,711 shares of the asset manager’s stock worth $198,000 after purchasing an additional 1,518 shares in the last quarter. Murphy Pohlad Asset Management LLC purchased a new stake in shares of Legg Mason during the 4th quarter worth about $205,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Legg Mason during the 4th quarter worth about $247,000. 91.46% of the stock is 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.
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