Legg Mason (NYSE:LM) EVP Patricia Lattin sold 898 shares of the company’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $38.95, for a total transaction of $34,977.10. Following the completion of the sale, the executive vice president now owns 41,445 shares of the company’s stock, valued at approximately $1,614,282.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Legg Mason stock traded down $0.08 during trading hours on Friday, reaching $39.05. 656,760 shares of the stock were exchanged, compared to its average volume of 904,293. The company has a market cap of $3.30 billion, a P/E ratio of 10.50, a PEG ratio of 0.60 and a beta of 2.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.41 and a current ratio of 1.98. Legg Mason has a 52-week low of $36.24 and a 52-week high of $47.13.
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. The company had revenue of $785.10 million during the quarter, compared to the consensus estimate of $755.98 million. Legg Mason had a net margin of 11.21% and a return on equity of 7.81%. Legg Mason’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 EPS. equities analysts predict that Legg Mason will post 3.62 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 9th. Stockholders of record on Tuesday, June 12th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Monday, June 11th. This is an increase from Legg Mason’s previous quarterly dividend of $0.28. Legg Mason’s dividend payout ratio (DPR) is currently 30.11%.
LM has been the subject of several research reports. Zacks Investment Research downgraded shares of Legg Mason from a “buy” rating to a “hold” rating in a research report on Wednesday, April 11th. Credit Suisse Group upped their price target on shares of Legg Mason from $52.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, April 26th. Morgan Stanley reduced their price target on shares of Legg Mason from $42.00 to $40.00 and set an “underweight” rating for the company in a research report on Tuesday, April 10th. Jefferies Group restated a “hold” rating and set a $45.00 price objective on shares of Legg Mason in a research report on Wednesday, April 11th. Finally, Royal Bank of Canada upped their price objective on shares of Legg Mason to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $47.10.
Institutional investors and hedge funds have recently made changes to their positions in the company. Macquarie Group Ltd. increased its holdings in shares of Legg Mason by 2.0% in the 4th quarter. Macquarie Group Ltd. now owns 1,052,376 shares of the asset manager’s stock valued at $44,179,000 after purchasing an additional 20,732 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Legg Mason by 269.3% in the 4th quarter. Millennium Management LLC now owns 1,655,666 shares of the asset manager’s stock valued at $69,505,000 after purchasing an additional 1,207,280 shares in the last quarter. Stephens Inc. AR purchased a new position in shares of Legg Mason in the 1st quarter valued at about $885,000. Swiss National Bank grew its stake in Legg Mason by 3.7% in the 4th quarter. Swiss National Bank now owns 151,447 shares of the asset manager’s stock valued at $6,358,000 after acquiring an additional 5,400 shares during the last quarter. Finally, SeaCrest Wealth Management LLC acquired a new stake in Legg Mason in the 4th quarter valued at about $1,117,000. Institutional investors and hedge funds own 93.88% of the company’s stock.
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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