Bartlett & Co. LLC maintained its position in Legg Mason Inc. (NYSE:LM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,101 shares of the company’s stock at the end of the second quarter. Bartlett & Co. LLC’s holdings in Legg Mason were worth $652,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Legg Mason during the fourth quarter valued at approximately $37,380,000. Junto Capital Management LP bought a new position in Legg Mason during the first quarter valued at approximately $28,672,000. Clarkston Capital Partners LLC boosted its position 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 during the last quarter. Wellington Management Group LLP boosted its position 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 during the last quarter. Finally, Moore Capital Management LP boosted its position in Legg Mason by 816.0% in the first quarter. Moore Capital Management LP now owns 300,000 shares of the company’s stock valued at $10,404,000 after buying an additional 267,248 shares during the last quarter. 78.66% of the stock is owned by hedge funds and other institutional investors.
Shares of Legg Mason Inc. (NYSE:LM) traded up 1.20% during mid-day trading on Wednesday, reaching $33.77. The company’s stock had a trading volume of 492,008 shares. The firm’s market capitalization is $3.50 billion. Legg Mason Inc. has a 52 week low of $24.93 and a 52 week high of $46.41. The firm has a 50-day moving average of $34.12 and a 200-day moving average of $32.97.
Legg Mason (NYSE:LM) last issued its earnings results on Wednesday, July 27th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.06. The business had revenue of $700.20 million for 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% on a year-over-year basis. During the same period last year, the company posted $1.14 EPS. Equities research analysts forecast that Legg Mason Inc. will post $2.31 earnings per share for the current fiscal year.
The company also recently announced 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 dividend yield of 2.61%. The ex-dividend date is Tuesday, October 4th. Legg Mason’s dividend payout ratio (DPR) is currently -103.53%.
LM has been the subject of several analyst reports. Citigroup Inc. reissued a “buy” rating and set a $45.00 target price on shares of Legg Mason in a research note on Thursday, June 30th. Barclays PLC reissued an “overweight” rating and set a $41.00 target price on shares of Legg Mason in a research note on Sunday, July 31st. Morgan Stanley reissued a “hold” rating on shares of Legg Mason in a research note on Friday, September 9th. Jefferies Group reissued a “buy” rating and set a $36.00 target price (down from $39.00) on shares of Legg Mason in a research note on Monday, July 11th. Finally, Zacks Investment Research cut Legg Mason from a “hold” rating to a “strong sell” rating in a research note on Monday, July 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Legg Mason currently has a consensus rating of “Buy” and a consensus target price of $37.20.
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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