Legg Mason Inc. (LM) Given a $44.00 Price Target by Keefe, Bruyette & Woods Analysts
Legg Mason Inc. (NYSE:LM) received a $44.00 price target from equities research analysts at Keefe, Bruyette & Woods in a report issued on Friday. The brokerage presently has a a “buy” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 37.72% from the stock’s current price.
A number of other research analysts have also weighed in on LM. Citigroup Inc. restated a “buy” rating and set a $45.00 price objective on shares of Legg Mason in a research report on Thursday, June 30th. Zacks Investment Research lowered Legg Mason from a “hold” rating to a “strong sell” rating in a research report on Monday, July 4th. Jefferies Group reiterated a “buy” rating and issued a $36.00 price target (down previously from $39.00) on shares of Legg Mason in a research report on Monday, July 11th. Wells Fargo & Co. reiterated a “buy” rating on shares of Legg Mason in a research report on Monday, July 18th. Finally, Morgan Stanley lifted their price target on Legg Mason from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Legg Mason presently has an average rating of “Buy” and a consensus price target of $42.11.
Shares of Legg Mason (NYSE:LM) traded down 0.66% on Friday, hitting $31.74. The stock had a trading volume of 354,825 shares. The company has a 50-day moving average of $33.76 and a 200-day moving average of $32.91. Legg Mason has a 52-week low of $24.93 and a 52-week high of $46.41. The company’s market cap is $3.29 billion.
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Legg Mason (NYSE:LM) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.06. The firm earned $700.20 million during the quarter, compared to analyst estimates of $681.99 million. Legg Mason had a positive return on equity of 7.06% and a negative net margin of 3.25%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 earnings per share. On average, equities analysts anticipate that Legg Mason will post $2.31 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 24th. Stockholders of record on Thursday, October 6th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Tuesday, October 4th. Legg Mason’s dividend payout ratio is presently -103.53%.
Several hedge funds have recently bought and sold shares of LM. Junto Capital Management LP bought a new stake in Legg Mason during the first quarter valued at $28,672,000. Darrell & King LLC bought a new stake in Legg Mason during the second quarter valued at $22,743,000. FMR LLC increased its stake in Legg Mason by 27.3% in the second quarter. FMR LLC now owns 2,318,350 shares of the company’s stock valued at $68,368,000 after buying an additional 497,323 shares in the last quarter. Clarkston Capital Partners LLC increased its stake in Legg Mason by 21.6% in the second quarter. Clarkston Capital Partners LLC now owns 2,478,050 shares of the company’s stock valued at $73,078,000 after buying an additional 439,825 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Legg Mason by 122.2% in the first quarter. Wellington Management Group LLP now owns 765,818 shares of the company’s stock valued at $26,559,000 after buying an additional 421,217 shares in the last quarter. 78.70% of the stock is owned by hedge funds and other institutional investors.
Legg Mason Company Profile
Legg Mason, Inc is a holding company. The Company and its subsidiaries are principally engaged in providing asset management and related financial services to individuals, institutions, corporations and municipalities. The Company operates through Global Asset Management segment. Global Asset Management provides investment advisory services to institutional and individual clients and to the Company-sponsored investment funds.
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