Legg Mason Inc. (NYSE:LM) had its price target reduced by Jefferies Group from $38.00 to $33.00 in a research report sent to investors on Tuesday. Jefferies Group currently has a buy rating on the stock.
Other equities research analysts also recently issued research reports about the stock. Morgan Stanley increased their target price on shares of Legg Mason from $37.00 to $38.00 and gave the company an equal weight rating in a research note on Thursday, July 28th. Barclays PLC reissued an overweight rating and issued a $41.00 target price on shares of Legg Mason in a research note on Sunday, July 31st. Wells Fargo & Co. reaffirmed a buy rating on shares of Legg Mason in a research note on Monday, July 18th. Zacks Investment Research raised shares of Legg Mason from a strong sell rating to a hold rating in a research note on Tuesday, September 27th. Finally, Citigroup Inc. reaffirmed a buy rating and issued a $45.00 price target on shares of Legg Mason in a research note on Thursday, June 30th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $42.11.
Shares of Legg Mason (NYSE:LM) traded down 0.03% during trading on Tuesday, reaching $31.94. 38,468 shares of the company were exchanged. The company’s market capitalization is $3.31 billion. The stock’s 50 day moving average is $33.76 and its 200 day moving average is $32.91. Legg Mason has a 1-year low of $24.93 and a 1-year high of $46.41.
Legg Mason (NYSE:LM) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.06. Legg Mason had a negative net margin of 3.25% and a positive return on equity of 7.06%. The business earned $700.20 million during the quarter, compared to analyst estimates of $681.99 million. During the same quarter last year, the business earned $1.14 earnings per share. Legg Mason’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities analysts anticipate that Legg Mason will post $2.31 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 24th. Investors of record on Thursday, October 6th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Tuesday, October 4th. Legg Mason’s dividend payout ratio (DPR) is presently -103.53%.
A number of hedge funds have recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC raised its position in Legg Mason by 11.4% in the third quarter. Integrated Investment Consultants LLC now owns 3,175 shares of the company’s stock valued at $102,000 after buying an additional 325 shares during the period. Seven Eight Capital LLC purchased a new position in Legg Mason during the first quarter valued at $180,000. Neuberger Berman Group LLC purchased a new position in Legg Mason during the second quarter valued at $220,000. Ironwood Investment Counsel LLC purchased a new position in Legg Mason during the first quarter valued at $227,000. Finally, Fox Run Management L.L.C. purchased a new position in Legg Mason during the third quarter valued at $244,000. Institutional investors own 78.70% of the company’s stock.
Legg Mason Company Profile