KAMES CAPITAL plc boosted its holdings in shares of Legg Mason Inc (NYSE:LM) by 20.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 82,530 shares of the asset manager’s stock after acquiring an additional 14,040 shares during the quarter. KAMES CAPITAL plc owned 0.09% of Legg Mason worth $3,464,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in LM. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Legg Mason by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,193 shares of the asset manager’s stock valued at $122,000 after buying an additional 294 shares during the last quarter. QCM Cayman Ltd. acquired a new stake in shares of Legg Mason during the 2nd quarter valued at about $200,000. Gotham Asset Management LLC acquired a new stake in shares of Legg Mason during the 2nd quarter valued at about $212,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Legg Mason during the 3rd quarter valued at about $224,000. Finally, Institute for Wealth Management LLC. acquired a new stake in shares of Legg Mason during the 2nd quarter valued at about $224,000. Hedge funds and other institutional investors own 82.49% of the company’s stock.
Shares of Legg Mason Inc (LM) opened at $43.74 on Friday. Legg Mason Inc has a 1-year low of $30.81 and a 1-year high of $43.76. 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 $3,936.76, a P/E ratio of 14.92, a P/E/G ratio of 1.02 and a beta of 2.27.
Legg Mason (NYSE:LM) last posted its earnings results on Wednesday, October 25th. The asset manager reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $739.47 million. During the same period in the previous year, the company earned $0.63 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. analysts predict that Legg Mason Inc will post 2.94 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Wednesday, December 20th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $1.12 annualized dividend and a yield of 2.56%. Legg Mason’s dividend payout ratio (DPR) is currently 43.75%.
LM has been the subject of several research reports. 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. Royal Bank of Canada set a $47.00 price target on Legg Mason and gave the company a “buy” rating in a report on Wednesday, October 18th. Deutsche Bank initiated coverage on Legg Mason in a report on Tuesday, October 17th. They set a “buy” rating and a $44.00 price target for the company. Zacks Investment Research upgraded Legg Mason from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Wednesday, November 8th. Finally, Citigroup reiterated a “hold” rating and set a $42.00 price target on shares of Legg Mason in a report on Tuesday, December 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Legg Mason currently has an average rating of “Hold” and a consensus price target of $43.90.
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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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