NumerixS Investment Technologies Inc Acquires Shares of 4,800 Legg Mason Inc (NYSE:LM)

NumerixS Investment Technologies Inc acquired a new stake in Legg Mason Inc (NYSE:LM) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,800 shares of the asset manager’s stock, valued at approximately $132,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund raised its stake in shares of Legg Mason by 2,451.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 872,212 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 838,021 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in shares of Legg Mason in the 4th quarter valued at approximately $104,000. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Legg Mason by 9.8% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,261 shares of the asset manager’s stock valued at $159,000 after acquiring an additional 559 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Legg Mason by 17.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,269 shares of the asset manager’s stock valued at $160,000 after acquiring an additional 930 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of Legg Mason by 80.8% in the 1st quarter. US Bancorp DE now owns 6,339 shares of the asset manager’s stock valued at $174,000 after acquiring an additional 2,832 shares in the last quarter. 84.51% of the stock is owned by institutional investors and hedge funds.

LM has been the topic of a number of recent analyst reports. ValuEngine raised Legg Mason from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Royal Bank of Canada raised their price objective on Legg Mason to $39.00 and gave the company an “in-line” rating in a research note on Tuesday, May 14th. Zacks Investment Research downgraded Legg Mason from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Gabelli reissued a “buy” rating on shares of Legg Mason in a research note on Wednesday, April 10th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Legg Mason in a research report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $33.22.

In other Legg Mason news, VP Thomas C. Merchant sold 5,582 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $36.11, for a total value of $201,566.02. Following the transaction, the vice president now owns 78,586 shares of the company’s stock, valued at $2,837,740.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Terence Johnson sold 18,525 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $36.21, for a total value of $670,790.25. Following the completion of the transaction, the executive vice president now directly owns 124,300 shares in the company, valued at approximately $4,500,903. The disclosure for this sale can be found here. In the last three months, insiders sold 63,378 shares of company stock worth $2,292,180. Insiders own 4.33% of the company’s stock.

Shares of NYSE LM opened at $36.79 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 0.69 and a beta of 1.52. Legg Mason Inc has a 12 month low of $23.25 and a 12 month high of $37.61.

Legg Mason (NYSE:LM) last announced its quarterly earnings results on Monday, May 13th. The asset manager reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.16. The business had revenue of $692.60 million for the quarter, compared to analyst estimates of $699.24 million. Legg Mason had a positive return on equity of 7.30% and a negative net margin of 0.98%. Legg Mason’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 EPS. On average, research analysts forecast that Legg Mason Inc will post 3.25 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Tuesday, July 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.60 dividend on an annualized basis and a yield of 4.35%. This is a positive change from Legg Mason’s previous quarterly dividend of $0.34. Legg Mason’s payout ratio is currently 44.74%.

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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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Institutional Ownership by Quarter for Legg Mason (NYSE:LM)

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