Macquarie Group Ltd. increased its stake in Legg Mason Inc (NYSE:LM) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,052,376 shares of the asset manager’s stock after buying an additional 20,732 shares during the quarter. Macquarie Group Ltd. owned about 1.24% of Legg Mason worth $44,179,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. Vident Investment Advisory LLC lifted its holdings in shares of Legg Mason by 9.8% in the 4th quarter. Vident Investment Advisory LLC now owns 74,232 shares of the asset manager’s stock worth $3,116,000 after purchasing an additional 6,612 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Legg Mason by 269.3% during the 4th quarter. Millennium Management LLC now owns 1,655,666 shares of the asset manager’s stock worth $69,505,000 after acquiring an additional 1,207,280 shares in the last quarter. Meadow Creek Investment Management LLC boosted its stake in shares of Legg Mason by 35.1% during the 4th quarter. Meadow Creek Investment Management LLC now owns 230,248 shares of the asset manager’s stock worth $9,666,000 after acquiring an additional 59,772 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Legg Mason by 8.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 40,491 shares of the asset manager’s stock worth $1,700,000 after acquiring an additional 3,119 shares in the last quarter. Finally, Paloma Partners Management Co boosted its position in shares of Legg Mason by 46.7% in the fourth quarter. Paloma Partners Management Co now owns 33,240 shares of the asset manager’s stock worth $1,395,000 after buying an additional 10,587 shares during the period. Institutional investors and hedge funds own 91.44% of the company’s stock.
Legg Mason Inc (NYSE:LM) opened at $40.78 on Tuesday. The firm has a market cap of $3,498.28, a P/E ratio of 12.24, a P/E/G ratio of 0.67 and a beta of 2.16. Legg Mason Inc has a 1 year low of $34.10 and a 1 year high of $47.13. The company has a quick ratio of 1.41, a current ratio of 1.98 and a debt-to-equity ratio of 0.58.
Legg Mason (NYSE:LM) last issued its earnings results on Wednesday, January 24th. The asset manager reported $1.58 EPS for the quarter, beating the consensus estimate of $1.40 by $0.18. The company had revenue of $793.10 million during the quarter, compared to analysts’ expectations of $777.11 million. Legg Mason had a net margin of 11.43% and a return on equity of 8.21%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. analysts expect that Legg Mason Inc will post 3.65 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Wednesday, March 14th. Legg Mason’s payout ratio is 30.77%.
LM has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price objective on Legg Mason to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Bank of America boosted their price target on Legg Mason from $42.00 to $44.00 and gave the company an “underperform” rating in a research note on Thursday, January 25th. Citigroup restated a “neutral” rating and set a $50.00 price target (up from $49.00) on shares of Legg Mason in a research note on Thursday, January 25th. Morgan Stanley boosted their price target on Legg Mason from $40.00 to $42.00 and gave the company a “sell” rating in a research note on Tuesday, January 30th. Finally, Jefferies Group lowered Legg Mason from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $47.10.
About Legg Mason
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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