Legg Mason (NYSE:LM) had its target price decreased by Deutsche Bank from $48.00 to $46.00 in a research note issued to investors on Tuesday morning. Deutsche Bank currently has a buy rating on the asset manager’s stock.
Several other equities research analysts have also issued reports on the stock. Royal Bank of Canada set a $49.00 price target on shares of Legg Mason and gave the company a buy rating in a report on Friday, December 15th. Zacks Investment Research raised shares of Legg Mason from a hold rating to a buy rating and set a $43.00 price target on the stock in a report on Wednesday, November 8th. Morgan Stanley lifted their price target on shares of Legg Mason from $40.00 to $42.00 and gave the company a sell rating in a report on Tuesday, January 30th. Citigroup reaffirmed a hold rating and set a $42.00 price target on shares of Legg Mason in a report on Tuesday, December 26th. Finally, Credit Suisse Group lowered shares of Legg Mason from an outperform rating to a neutral rating and set a $49.00 price target on the stock. in a report on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Hold and a consensus target price of $47.10.
Legg Mason (LM) opened at $41.34 on Tuesday. 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 has a 1-year low of $34.10 and a 1-year high of $47.13. The company has a market cap of $3,380.77, a PE ratio of 11.83, a price-to-earnings-growth ratio of 0.64 and a beta of 2.16.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 15th will be given a dividend of $0.28 per share. The ex-dividend date is Wednesday, March 14th. This represents a $1.12 annualized dividend and a yield of 2.71%. Legg Mason’s dividend payout ratio is presently 30.77%.
A number of large investors have recently bought and sold shares of the stock. Millennium Management LLC lifted its position in shares of Legg Mason by 269.3% in the 4th quarter. Millennium Management LLC now owns 1,655,666 shares of the asset manager’s stock worth $69,505,000 after purchasing an additional 1,207,280 shares during the period. BlackRock Inc. lifted its position in shares of Legg Mason by 8.9% in the 4th quarter. BlackRock Inc. now owns 7,968,793 shares of the asset manager’s stock worth $334,532,000 after purchasing an additional 652,719 shares during the period. LSV Asset Management lifted its position in shares of Legg Mason by 23.1% in the 4th quarter. LSV Asset Management now owns 3,469,278 shares of the asset manager’s stock worth $145,640,000 after purchasing an additional 650,160 shares during the period. Two Sigma Investments LP lifted its position in shares of Legg Mason by 2,078.8% in the 4th quarter. Two Sigma Investments LP now owns 358,023 shares of the asset manager’s stock worth $15,030,000 after purchasing an additional 341,591 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. lifted its position in shares of Legg Mason by 164.8% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 514,812 shares of the asset manager’s stock worth $20,236,000 after purchasing an additional 320,376 shares during the period. Institutional investors and hedge funds own 89.77% of the company’s stock.
Legg Mason Company Profile
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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