Public Employees Retirement System of Ohio lifted its position in Legg Mason, Inc. (NYSE:LM) by 30.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,710 shares of the company’s stock after acquiring an additional 12,655 shares during the quarter. Public Employees Retirement System of Ohio owned 0.06% of Legg Mason worth $2,050,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of Legg Mason by 1,729.5% during the first quarter. BlackRock Inc. now owns 7,932,618 shares of the company’s stock worth $286,448,000 after acquiring an additional 7,499,031 shares during the last quarter. Laurion Capital Management LP purchased a new stake in Legg Mason in the second quarter valued at approximately $37,103,000. LSV Asset Management boosted its position in Legg Mason by 55.7% in the second quarter. LSV Asset Management now owns 2,183,004 shares of the company’s stock valued at $83,303,000 after buying an additional 780,708 shares during the last quarter. UBS Oconnor LLC purchased a new stake in Legg Mason in the second quarter valued at approximately $13,055,000. Finally, Marshall Wace North America L.P. purchased a new stake in Legg Mason in the second quarter valued at approximately $12,031,000. Hedge funds and other institutional investors own 83.21% of the company’s stock.
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A number of research analysts have issued reports on LM shares. Morgan Stanley downgraded Legg Mason from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $37.00 to $36.00 in a report on Thursday, October 5th. Royal Bank Of Canada reissued a “buy” rating and issued a $47.00 price target on shares of Legg Mason in a report on Friday, July 28th. Deutsche Bank AG assumed coverage on Legg Mason in a research note on Tuesday, October 17th. They set a “buy” rating and a $44.00 target price for the company. Barclays PLC assumed coverage on Legg Mason in a research note on Friday, September 8th. They set an “equal weight” rating and a $39.00 target price for the company. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $49.00 target price on shares of Legg Mason in a research note on Sunday, August 20th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of C$43.10.
Shares of Legg Mason, Inc. (NYSE LM) opened at C$38.06 on Monday. 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 stock has a market capitalization of $3,499.14, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 0.89 and a beta of 2.27. Legg Mason, Inc. has a twelve month low of C$29.71 and a twelve month high of C$42.08.
Legg Mason (NYSE:LM) last issued its earnings results on Wednesday, October 25th. The company reported C$0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.69 by C$0.10. The company had revenue of C$768.30 million during the quarter, compared to analysts’ expectations of C$739.47 million. Legg Mason had a return on equity of 7.16% and a net margin of 8.46%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 EPS. equities research analysts anticipate that Legg Mason, Inc. will post 2.84 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Wednesday, December 20th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Tuesday, December 19th. Legg Mason’s payout ratio is currently 43.75%.
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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