The Legg Mason Inc. (LM) Given a $44.00 Price Target by Keefe, Bruyette & Woods Analysts

The Legg Mason Inc. (LM) Given a $44.00 Price Target by Keefe, Bruyette & Woods Analysts

Legg Mason Inc. (NYSE:LM) received a $44.00 price target from equities research analysts at Keefe, Bruyette & Woods in a report issued on Friday. The brokerage presently has a a “buy” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 37.72% from the stock’s current price.

A number of other research analysts have also weighed in on LM. Citigroup Inc. restated a “buy” rating and set a $45.00 price objective on shares of Legg Mason in a research report on Thursday, June 30th. Zacks Investment Research lowered Legg Mason from a “hold” rating to a “strong sell” rating in a research report on Monday, July 4th. Jefferies Group reiterated a “buy” rating and issued a $36.00 price target (down previously from $39.00) on shares of Legg Mason in a research report on Monday, July 11th. Wells Fargo & Co. reiterated a “buy” rating on shares of Legg Mason in a research report on Monday, July 18th. Finally, Morgan Stanley lifted their price target on Legg Mason from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Legg Mason presently has an average rating of “Buy” and a consensus price target of $42.11.

Shares of Legg Mason (NYSE:LM) traded down 0.66% on Friday, hitting $31.74. The stock had a trading volume of 354,825 shares. The company has a 50-day moving average of $33.76 and a 200-day moving average of $32.91. Legg Mason has a 52-week low of $24.93 and a 52-week high of $46.41. The company’s market cap is $3.29 billion.

Legg Mason (NYSE:LM) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.06. The firm earned $700.20 million during the quarter, compared to analyst estimates of $681.99 million. Legg Mason had a positive return on equity of 7.06% and a negative net margin of 3.25%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 earnings per share. On average, equities analysts anticipate that Legg Mason will post $2.31 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 24th. Stockholders of record on Thursday, October 6th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Tuesday, October 4th. Legg Mason’s dividend payout ratio is presently -103.53%.

Several hedge funds have recently bought and sold shares of LM. Junto Capital Management LP bought a new stake in Legg Mason during the first quarter valued at $28,672,000. Darrell & King LLC bought a new stake in Legg Mason during the second quarter valued at $22,743,000. FMR LLC increased its stake in Legg Mason by 27.3% in the second quarter. FMR LLC now owns 2,318,350 shares of the company’s stock valued at $68,368,000 after buying an additional 497,323 shares in the last quarter. Clarkston Capital Partners LLC increased its stake in Legg Mason by 21.6% in the second quarter. Clarkston Capital Partners LLC now owns 2,478,050 shares of the company’s stock valued at $73,078,000 after buying an additional 439,825 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Legg Mason by 122.2% in the first quarter. Wellington Management Group LLP now owns 765,818 shares of the company’s stock valued at $26,559,000 after buying an additional 421,217 shares in the last quarter. 78.70% of the stock is owned by hedge funds and other institutional investors.

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