Legg Mason Inc (LM) Stake Lifted by Quantitative Investment Management LLC

Quantitative Investment Management LLC lifted its holdings in Legg Mason Inc (NYSE:LM) by 167.0% during the 4th quarter, HoldingsChannel reports. The fund owned 70,500 shares of the asset manager’s stock after acquiring an additional 44,100 shares during the quarter. Quantitative Investment Management LLC’s holdings in Legg Mason were worth $2,959,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. SeaCrest Wealth Management LLC acquired a new position in Legg Mason during the 4th quarter worth $1,117,000. Vident Investment Advisory LLC acquired a new position in Legg Mason during the 3rd quarter worth $2,658,000. Stifel Financial Corp lifted its holdings in Legg Mason by 53.9% during the 3rd quarter. Stifel Financial Corp now owns 87,173 shares of the asset manager’s stock worth $3,428,000 after buying an additional 30,513 shares in the last quarter. Clarkston Capital Partners LLC lifted its holdings in Legg Mason by 3.8% during the 4th quarter. Clarkston Capital Partners LLC now owns 3,303,897 shares of the asset manager’s stock worth $138,698,000 after buying an additional 119,604 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Legg Mason by 4.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 505,973 shares of the asset manager’s stock worth $21,241,000 after buying an additional 21,010 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors and hedge funds.

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LM has been the topic of several research reports. Royal Bank of Canada set a $49.00 price objective on Legg Mason and gave the stock a “buy” rating in a report on Friday, December 15th. Zacks Investment Research upgraded shares of Legg Mason from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective for the company in a research report on Tuesday, December 26th. Citigroup restated a “hold” rating and issued a $42.00 price objective on shares of Legg Mason in a research report on Tuesday, December 26th. Credit Suisse Group cut shares of Legg Mason from an “outperform” rating to a “neutral” rating and set a $49.00 price objective for the company. in a research report on Wednesday, January 3rd. Finally, Jefferies Group cut shares of Legg Mason from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $47.10.

Shares of Legg Mason Inc (LM) opened at $41.38 on Friday. The company has a market cap of $3,466.15, a price-to-earnings ratio of 12.13, a P/E/G ratio of 0.66 and a beta of 2.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.98 and a quick ratio of 1.41. Legg Mason Inc has a 1 year low of $34.10 and a 1 year high of $47.13.

Legg Mason (NYSE:LM) last announced its earnings results on Wednesday, January 24th. The asset manager reported $1.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.18. The firm had revenue of $793.10 million during the quarter, compared to analyst estimates of $777.11 million. Legg Mason had a net margin of 11.43% and a return on equity of 8.21%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 EPS. research analysts expect that Legg Mason Inc will post 3.65 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 15th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Wednesday, March 14th. Legg Mason’s payout ratio is presently 30.77%.

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Legg Mason 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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Institutional Ownership by Quarter for Legg Mason (NYSE:LM)

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