Shares of Legg Mason, Inc. (NYSE:LM) have been given an average recommendation of “Hold” by the fourteen analysts that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $43.11.

A number of equities research analysts have weighed in on LM shares. Zacks Investment Research upgraded Legg Mason from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Wednesday, November 8th. Jefferies Group reaffirmed a “buy” rating and set a $49.00 target price on shares of Legg Mason in a research report on Sunday, August 20th. Royal Bank of Canada set a $47.00 price target on Legg Mason and gave the stock a “buy” rating in a report on Wednesday, October 18th. Deutsche Bank began coverage on Legg Mason in a report on Tuesday, October 17th. They set a “buy” rating and a $44.00 price target on the stock. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $47.00 price target on shares of Legg Mason in a report on Friday, September 29th.

Legg Mason (NYSE LM) traded down $0.17 during trading hours on Friday, reaching $40.00. The company had a trading volume of 558,800 shares, compared to its average volume of 1,066,058. The company has a quick ratio of 1.79, a current ratio of 2.51 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $3,693.13, a price-to-earnings ratio of 14.00, a PEG ratio of 0.94 and a beta of 2.27. Legg Mason has a fifty-two week low of $29.71 and a fifty-two week high of $42.08.

Legg Mason (NYSE:LM) last posted its earnings results on Wednesday, October 25th. The asset manager reported $0.79 EPS for the quarter, beating the consensus estimate of $0.69 by $0.10. Legg Mason had a return on equity of 7.16% and a net margin of 8.46%. The firm had revenue of $768.30 million during the quarter, compared to the consensus estimate of $739.47 million. During the same period last year, the company earned $0.63 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. sell-side analysts anticipate that Legg Mason will post 2.85 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Wednesday, December 20th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Tuesday, December 19th. Legg Mason’s payout ratio is 43.75%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC raised its holdings in Legg Mason by 0.7% in the 2nd quarter. Neuberger Berman Group LLC now owns 6,857 shares of the asset manager’s stock worth $262,000 after purchasing an additional 47 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Legg Mason by 2.7% during the second quarter. Oppenheimer & Co. Inc. now owns 6,904 shares of the asset manager’s stock valued at $263,000 after acquiring an additional 183 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Legg Mason by 10.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,193 shares of the asset manager’s stock valued at $122,000 after acquiring an additional 294 shares during the period. Raymond James Trust N.A. raised its holdings in Legg Mason by 3.0% during the second quarter. Raymond James Trust N.A. now owns 14,168 shares of the asset manager’s stock valued at $541,000 after acquiring an additional 416 shares during the period. Finally, Quantbot Technologies LP raised its holdings in Legg Mason by 3.8% during the second quarter. Quantbot Technologies LP now owns 12,241 shares of the asset manager’s stock valued at $467,000 after acquiring an additional 449 shares during the period. 82.58% of the stock is owned by institutional investors and hedge funds.

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About Legg Mason

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.

Analyst Recommendations for Legg Mason (NYSE:LM)

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