Fairpointe Capital LLC lowered its holdings in Legg Mason Inc (NYSE:LM) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 346,900 shares of the asset manager’s stock after selling 7,700 shares during the quarter. Fairpointe Capital LLC owned 0.41% of Legg Mason worth $14,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of LM. Millennium Management LLC increased its position in Legg Mason by 269.3% during the fourth quarter. Millennium Management LLC now owns 1,655,666 shares of the asset manager’s stock valued at $69,505,000 after acquiring an additional 1,207,280 shares during the last quarter. BlackRock Inc. increased its position in Legg Mason by 8.9% in the fourth quarter. BlackRock Inc. now owns 7,968,793 shares of the asset manager’s stock worth $334,532,000 after buying an additional 652,719 shares in the last quarter. LSV Asset Management increased its position in Legg Mason by 23.1% in the fourth quarter. LSV Asset Management now owns 3,469,278 shares of the asset manager’s stock worth $145,640,000 after buying an additional 650,160 shares in the last quarter. Two Sigma Investments LP increased its position in Legg Mason by 2,078.8% in the fourth quarter. Two Sigma Investments LP now owns 358,023 shares of the asset manager’s stock worth $15,030,000 after buying an additional 341,591 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its position in Legg Mason by 164.8% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 514,812 shares of the asset manager’s stock worth $20,236,000 after buying an additional 320,376 shares in the last quarter. Institutional investors own 91.44% of the company’s stock.
A number of analysts have commented on LM shares. Royal Bank of Canada set a $49.00 price target on Legg Mason and gave the stock a “buy” rating in a research report on Friday, December 15th. Zacks Investment Research upgraded Legg Mason from a “hold” rating to a “strong-buy” rating and set a $48.00 price target for the company in a research report on Tuesday, December 26th. Citigroup restated a “hold” rating and issued a $42.00 price target 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 target for the company. in a research report on Wednesday, January 3rd. Finally, Jefferies Group cut Legg Mason from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $47.10.
Legg Mason Inc (LM) opened at $40.78 on Tuesday. The firm has a market capitalization of $3,498.28, a PE ratio of 12.24, a PEG ratio of 0.67 and a beta of 2.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.98 and a quick ratio of 1.41. Legg Mason Inc has a one year low of $34.10 and a one year high of $47.13.
Legg Mason (NYSE:LM) last released its quarterly earnings data on Wednesday, January 24th. The asset manager reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.18. The firm had revenue of $793.10 million during the quarter, compared to analyst estimates of $777.11 million. Legg Mason had a return on equity of 8.21% and a net margin of 11.43%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 earnings per share. research analysts forecast that Legg Mason Inc will post 3.65 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 15th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Wednesday, March 14th. Legg Mason’s dividend payout ratio (DPR) is 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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