Todays Report: The Legg Mason Inc. (LM) Receives Buy Rating from Keefe, Bruyette & Woods

The Legg Mason Inc. (LM) Receives Buy Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their buy rating on shares of Legg Mason Inc. (NYSE:LM) in a research report report published on Friday morning. The firm currently has a $44.00 target price on the stock.

A number of other analysts have also recently weighed in on LM. Zacks Investment Research cut Legg Mason from a buy rating to a hold rating in a research note on Wednesday, July 13th. Wells Fargo & Co. restated a buy rating on shares of Legg Mason in a research note on Monday, July 18th. Morgan Stanley raised their price target on Legg Mason from $37.00 to $38.00 and gave the company an equal weight rating in a research note on Thursday, July 28th. Jefferies Group restated a buy rating on shares of Legg Mason in a research note on Thursday, August 11th. Finally, Barclays PLC restated an overweight rating and issued a $41.00 price target on shares of Legg Mason in a research note on Sunday, July 31st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $42.11.

Shares of Legg Mason (NYSE:LM) traded down 0.16% during mid-day trading on Friday, hitting $31.90. The stock had a trading volume of 186,743 shares. Legg Mason has a 52-week low of $24.93 and a 52-week high of $46.41. The firm’s market cap is $3.31 billion. The firm has a 50 day moving average price of $33.76 and a 200 day moving average price of $32.91.

Legg Mason (NYSE:LM) last released its earnings results on Wednesday, July 27th. The company reported $0.31 earnings per share (EPS) 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%. Legg Mason’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business posted $1.14 earnings per share. Equities analysts predict that Legg Mason will post $2.31 EPS for the current year.

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

A number of institutional investors have recently modified their holdings of LM. CIBC Asset Management Inc boosted its position in shares of Legg Mason by 0.9% in the second quarter. CIBC Asset Management Inc now owns 11,545 shares of the company’s stock valued at $340,000 after buying an additional 104 shares during the period. Gyroscope Capital Management Group LLC boosted its position in shares of Legg Mason by 0.6% in the second quarter. Gyroscope Capital Management Group LLC now owns 18,329 shares of the company’s stock valued at $541,000 after buying an additional 116 shares during the period. World Asset Management Inc boosted its position in shares of Legg Mason by 1.9% in the second quarter. World Asset Management Inc now owns 11,267 shares of the company’s stock valued at $332,000 after buying an additional 211 shares during the period. Integrated Investment Consultants LLC boosted its position in shares of 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. Finally, Raymond James Trust N.A. boosted its position in shares of Legg Mason by 3.3% in the third quarter. Raymond James Trust N.A. now owns 11,638 shares of the company’s stock valued at $390,000 after buying an additional 372 shares during the period. Hedge funds and other institutional investors own 78.70% of the company’s stock.

Legg Mason Company Profile

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