Legg Mason Inc (NYSE:LM) declared a quarterly dividend on Monday, February 11th, Zacks reports. Stockholders of record on Tuesday, March 26th will be given a dividend of 0.34 per share by the asset manager on Monday, April 29th. This represents a $1.36 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend is Monday, March 25th.
Legg Mason has raised its dividend payment by an average of 19.9% annually over the last three years and has raised its dividend every year for the last 9 years. Legg Mason has a payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Legg Mason to earn $2.70 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 50.4%.
Shares of NYSE:LM traded down $0.25 on Wednesday, hitting $28.47. 10,239 shares of the company were exchanged, compared to its average volume of 899,346. Legg Mason has a one year low of $23.25 and a one year high of $41.87. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.33 and a current ratio of 1.77. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 7.64, a PEG ratio of 0.62 and a beta of 1.66.
Legg Mason (NYSE:LM) last posted its quarterly earnings data on Monday, February 4th. The asset manager reported ($2.55) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($3.24). Legg Mason had a positive return on equity of 7.44% and a negative net margin of 0.06%. The company had revenue of $704.30 million for the quarter, compared to the consensus estimate of $718.90 million. During the same quarter in the previous year, the firm posted $1.58 EPS. The business’s revenue for the quarter was down 11.2% compared to the same quarter last year. Equities analysts predict that Legg Mason will post 2.84 EPS for the current year.
Several research firms have recently issued reports on LM. Citigroup upgraded shares of Legg Mason from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $27.00 to $29.50 in a report on Tuesday, February 5th. Deutsche Bank downgraded shares of Legg Mason from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $31.00 to $27.00 in a report on Thursday, January 10th. Zacks Investment Research upgraded shares of Legg Mason from a “sell” rating to a “hold” rating in a report on Monday, December 31st. ValuEngine upgraded shares of Legg Mason from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 16th. Finally, Morgan Stanley set a $24.00 target price on shares of Legg Mason and gave the company a “sell” rating in a research note on Friday, February 8th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $35.73.
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Legg Mason Company Profile
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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