GHP Investment Advisors Inc. raised its holdings in Legg Mason Inc (NYSE:LM) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,491 shares of the asset manager’s stock after acquiring an additional 3,119 shares during the period. GHP Investment Advisors Inc.’s holdings in Legg Mason were worth $1,700,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. SeaCrest Wealth Management LLC acquired a new position in Legg Mason in the fourth quarter valued at about $1,117,000. Vident Investment Advisory LLC acquired a new position in Legg Mason in the third quarter valued at about $2,658,000. Stifel Financial Corp grew its stake in Legg Mason by 53.9% in the third quarter. Stifel Financial Corp now owns 87,173 shares of the asset manager’s stock valued at $3,428,000 after acquiring an additional 30,513 shares during the period. Clarkston Capital Partners LLC grew its stake in Legg Mason by 3.8% in the fourth quarter. Clarkston Capital Partners LLC now owns 3,303,897 shares of the asset manager’s stock valued at $138,698,000 after acquiring an additional 119,604 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in Legg Mason by 4.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 505,973 shares of the asset manager’s stock valued at $21,241,000 after acquiring an additional 21,010 shares during the period. 91.53% of the stock is owned by hedge funds and other institutional investors.
LM has been the subject of several recent research reports. Citigroup reaffirmed a “hold” rating and set a $42.00 price objective on shares of Legg Mason in a research report on Tuesday, December 26th. Credit Suisse Group cut Legg Mason from an “outperform” rating to a “neutral” rating and set a $49.00 price objective for the company. in a research report on Wednesday, January 3rd. Bank of America upped their price objective on Legg Mason from $42.00 to $44.00 and gave the stock an “underperform” rating in a research report on Thursday, January 25th. Royal Bank of Canada upped their price objective on Legg Mason to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Zacks Investment Research raised Legg Mason from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective for the company in a research report on Tuesday, December 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $47.10.
Legg Mason (NYSE:LM) last released its earnings results on Wednesday, January 24th. The asset manager reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.18. Legg Mason had a return on equity of 8.21% and a net margin of 11.43%. The business had revenue of $793.10 million for the quarter, compared to analyst estimates of $777.11 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. Legg Mason’s revenue was up 10.9% on a year-over-year basis. research analysts anticipate that Legg Mason Inc will post 3.65 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 15th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.12 annualized dividend and a yield of 2.70%. Legg Mason’s payout ratio is presently 30.77%.
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Legg Mason 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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