Legg Mason Inc (LM) Receives $33.13 Consensus Target Price from Analysts

Share on StockTwits

Legg Mason Inc (NYSE:LM) has been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $33.13.

A number of equities analysts have commented on the stock. Morgan Stanley set a $27.00 price target on shares of Legg Mason and gave the company a “sell” rating in a research report on Thursday, May 16th. ValuEngine upgraded shares of Legg Mason from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Zacks Investment Research upgraded shares of Legg Mason from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Monday, May 20th. Gabelli restated a “buy” rating on shares of Legg Mason in a research report on Wednesday, April 10th. Finally, Wells Fargo & Co restated a “buy” rating on shares of Legg Mason in a research report on Wednesday, April 10th.

In other news, VP Thomas C. Merchant sold 5,582 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $36.11, for a total transaction of $201,566.02. Following the transaction, the vice president now directly owns 78,586 shares in the company, valued at $2,837,740.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ursula Schliessler sold 3,608 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $36.03, for a total transaction of $129,996.24. Following the transaction, the chief accounting officer now owns 27,495 shares in the company, valued at $990,644.85. The disclosure for this sale can be found here. Insiders have sold 63,378 shares of company stock worth $2,292,180 over the last quarter. 4.33% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Financial Architects Inc acquired a new position in Legg Mason in the fourth quarter valued at approximately $26,000. Oregon Public Employees Retirement Fund lifted its holdings in Legg Mason by 2,451.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 872,212 shares of the asset manager’s stock valued at $34,000 after buying an additional 838,021 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in Legg Mason in the fourth quarter valued at approximately $104,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Legg Mason by 30.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,102 shares of the asset manager’s stock valued at $112,000 after buying an additional 951 shares during the period. Finally, NumerixS Investment Technologies Inc acquired a new position in Legg Mason in the first quarter valued at approximately $132,000. Institutional investors own 85.61% of the company’s stock.

NYSE:LM opened at $37.21 on Friday. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 0.70 and a beta of 1.73. Legg Mason has a 12 month low of $23.25 and a 12 month high of $38.87. The company has a current ratio of 1.77, a quick ratio of 1.33 and a debt-to-equity ratio of 0.54.

Legg Mason (NYSE:LM) last released its quarterly earnings results on Monday, May 13th. The asset manager reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.16. The firm had revenue of $692.60 million for the quarter, compared to analyst estimates of $699.24 million. Legg Mason had a negative net margin of 0.98% and a positive return on equity of 7.24%. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 earnings per share. Research analysts predict that Legg Mason will post 3.27 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Tuesday, July 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.30%. This is a positive change from Legg Mason’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Monday, July 1st. Legg Mason’s dividend payout ratio is presently 44.74%.

Legg Mason Company Profile

Legg Mason, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides investment management and related services to company-sponsored mutual funds and other investment vehicles including pension funds, foundations, endowments, sovereign wealth funds, insurance companies, private banks, family offices, individuals, as well as to global, institutional, and retail clients.

Recommended Story: How to calculate the annual rate of depreciation

Analyst Recommendations for Legg Mason (NYSE:LM)

Receive News & Ratings for Legg Mason Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Legg Mason and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Autoliv  PT Lowered to $62.00 at Buckingham Research
Autoliv PT Lowered to $62.00 at Buckingham Research
Shotspotter  Cut to “Market Perform” at Northland Securities
Shotspotter Cut to “Market Perform” at Northland Securities
Buckingham Research Increases Sonic Automotive  Price Target to $20.00
Buckingham Research Increases Sonic Automotive Price Target to $20.00
Vail Resorts  Earns Market Perform Rating from Analysts at Wells Fargo & Co
Vail Resorts Earns Market Perform Rating from Analysts at Wells Fargo & Co
Johnson Outdoors  Downgraded by Sidoti
Johnson Outdoors Downgraded by Sidoti
Autoliv  Stock Rating Upgraded by Robert W. Baird
Autoliv Stock Rating Upgraded by Robert W. Baird


© 2006-2019 Ticker Report