Legg Mason (NYSE:LM)‘s stock had its “hold” rating reissued by analysts at Citigroup in a note issued to investors on Tuesday, December 26th. They currently have a $42.00 price objective on the asset manager’s stock. Citigroup’s price objective would indicate a potential downside of 3.98% from the company’s current price.
Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Legg Mason from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Wednesday, November 8th. Deutsche Bank started coverage on shares of Legg Mason in a research note on Tuesday, October 17th. They issued a “buy” rating and a $44.00 price objective for the company. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $47.00 price objective on shares of Legg Mason in a research note on Friday, September 29th. Royal Bank of Canada set a $47.00 target price on shares of Legg Mason and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Finally, Credit Suisse Group raised their target price on shares of Legg Mason from $48.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, October 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 given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.90.
Legg Mason (NYSE:LM) opened at $43.74 on Tuesday. The company has a current ratio of 2.51, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Legg Mason has a 1-year low of $30.81 and a 1-year high of $43.76. The company has a market cap of $3,890.00, a PE ratio of 17.09, a price-to-earnings-growth ratio of 0.96 and a beta of 2.27.
Legg Mason (NYSE:LM) last announced its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.10. Legg Mason had a net margin of 8.46% and a return on equity of 7.16%. The firm had revenue of $768.30 million during the quarter, compared to the consensus estimate of $739.47 million. During the same quarter last year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. equities research analysts forecast that Legg Mason will post 2.89 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of LM. KAMES CAPITAL plc increased its holdings in Legg Mason by 20.5% in the fourth quarter. KAMES CAPITAL plc now owns 82,530 shares of the asset manager’s stock valued at $3,464,000 after buying an additional 14,040 shares in the last quarter. Dalton Greiner Hartman Maher & Co. increased its holdings in Legg Mason by 3.2% in the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 527,188 shares of the asset manager’s stock valued at $22,131,000 after buying an additional 16,107 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new position in Legg Mason in the fourth quarter valued at $312,000. Hutchens Investment Management Inc purchased a new position in Legg Mason in the fourth quarter valued at $251,000. Finally, AXA increased its holdings in Legg Mason by 96.6% in the third quarter. AXA now owns 253,400 shares of the asset manager’s stock valued at $9,961,000 after buying an additional 124,500 shares in the last quarter. Institutional investors and hedge funds own 82.49% of the company’s stock.
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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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