Shares of Legg Mason Inc. (NYSE: LM) have received a consensus of "Hold" by the thirteen assessment firms that cover the company, reports from MarketBeat Ratings. Four equity research analysts have rated the shares with a sell rating, four have a hold rating and four have assigned a buy rating to the company. The average target for 12 months of brokers who have updated their coverage of the shares in the past year is $ 44.40.
A number of brokers have recently weighed on LM. Zacks Investment Research reduced the shares of Legg Mason from a & # 39; hold & # 39; credit to a & # 39; sell & # 39; credit in a study letter on Tuesday 26 June. Morgan Stanley lowered its price target on Legg Mason shares from $ 39.00 to $ 34.00 and placed an "underweight" rating for the company on Thursday, July 12 in a research note. TheStreet reduced Legg Mason shares from a "b" rating to a "c +" rating in a study letter on Thursday 7 June. ValuEngine reduced shares of Legg Mason from a & # 39; hold & # 39; credit to a & # 39; sell & # 39; credit in a study letter on Wednesday 6 June. Finally, Royal Bank of Canada re-issued a "buy" rating and set a price target of $ 40.00 on Legg Mason shares in a research note on Thursday, July 26.
Legg Mason shares traded $ 0.37 on Wednesday afternoon and reached $ 32.03. The company had a trading volume of 25,990 shares, compared to the average volume of 875,593. Legg Mason has a 1-year low of $ 31.20 and a 1-year high of $ 47.13. The company has a current ratio of 2.41, a quick ratio of 1.64 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $ 2.71 billion, a PE ratio of 8.66, a price-earnings ratio of 0.53 and a beta of 1.92.
Legg Mason (NYSE: LM) last published its earnings results on Wednesday, July 25th. The asset manager reported earnings per share of $ 0.75 (EPS) for the quarter for the quarter, with Zacks' consensus estimate of $ 0.78 by ($ 0.03) missing. Legg Mason had a net margin of 11.87% and a return on equity of 8.12%. The company had sales of $ 747.91 million during the quarter compared with analysts' expectations of $ 748.72 million. During the same period last year, the company recorded $ 0.52 per share. The company's quarterly turnover decreased by 5.8% on an annual basis. sell-side analysts predict that Legg Mason will publish 3.56 EPS for the current fiscal year.
The company has also recently announced a quarterly dividend, which will be paid on Tuesday, October 23rd. Investors of record on Friday, October 5 will receive a dividend of $ 0.34 per share. The ex-dividend date is Thursday 4 October. This represents a dividend of $ 1.36 on an annual basis and a return of 4.25%. The dividend payout ratio of Legg Mason (DPR) is currently 36.56%.
A number of hedge funds and other institutional investors have recently changed their positions in the shares. Dimensional Fund Advisors LP strengthened its participations in Legg Mason shares by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now holds 4,115,099 shares in the share capital of the fund manager, valued at $ 167,279,000 after the purchase of an additional 88,179 shares in the last quarter. LSV Asset Management increased its participations in Legg Mason shares by 8.1% in the second quarter. LSV Asset Management now owns 4,030,818 shares of the assets of the asset manager, valued at $ 139,990,000 after the purchase of additional 302,140 shares during the last quarter. Clarkston Capital Partners LLC increased its participations in Legg Mason shares by 12.5% in the second quarter. Clarkston Capital Partners LLC now holds 3,715,101 shares in the share capital of the fund manager, valued at $ 129,025,000 after the purchase of an additional 412,813 shares during the last quarter. Macquarie Group Ltd. In the second quarter, shares in Legg Mason increased by 17.8%. Macquarie Group Ltd. now holds 1,244,746 shares in the share capital of the asset manager, valued at $ 43,230,000 after the acquisition of a further 188,086 shares during the last quarter. Finally, Prudential Financial Inc. has In the first quarter, participations in Legg Mason were increased by 1,113.7%. Prudential Financial Inc. now holds 809,424 shares in the share capital of the asset manager, valued at $ 32,904,000 after the purchase of another 742,731 shares during the last quarter. Hedge funds and other institutional investors hold 86.57% of the company's shares.
Legg Mason Company profile
Legg Mason, Inc is a government asset management company. Through its subsidiaries, the company offers investment management and related services to company-sponsored investment funds and other investment vehicles, including pension funds, foundations, donations, sovereign wealth funds, insurance companies, private banks, family offices, individuals and worldwide. institutional and private customers.
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