Barclays reiterated their hold rating on shares of Legg Mason (NYSE:LM) in a research report released on Thursday morning, AnalystRatings.com reports. They currently have a $50.00 target price on the asset manager’s stock.
Several other analysts also recently weighed in on the company. Deutsche Bank boosted their price objective on Legg Mason from $38.00 to $50.00 and gave the company a hold rating in a research report on Wednesday, February 19th. Citigroup downgraded Legg Mason from a buy rating to a neutral rating and boosted their price objective for the company from $49.00 to $50.00 in a research report on Wednesday, February 19th. Evercore ISI reiterated a hold rating and issued a $41.00 price objective on shares of Legg Mason in a research report on Thursday, January 30th. Royal Bank of Canada downgraded Legg Mason from an outperform rating to a sector perform rating and boosted their price objective for the company from $47.00 to $50.00 in a research report on Thursday. Finally, Cfra upped their target price on Legg Mason from $45.00 to $50.00 and gave the company a hold rating in a report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $44.18.
Shares of LM stock opened at $50.35 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.57 and a current ratio of 2.12. Legg Mason has a fifty-two week low of $26.36 and a fifty-two week high of $50.70. The stock has a 50 day moving average price of $39.41 and a two-hundred day moving average price of $37.85. The company has a market capitalization of $4.38 billion, a P/E ratio of 19.07, a PEG ratio of 1.02 and a beta of 1.50.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Investors of record on Thursday, March 19th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.18%. Legg Mason’s dividend payout ratio is presently 52.63%.
In other news, insider Legg Mason, Inc. purchased 49,554 shares of Legg Mason stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average cost of $10.09 per share, with a total value of $499,999.86. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.08% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LM. UBS Group AG grew its stake in shares of Legg Mason by 213.8% in the fourth quarter. UBS Group AG now owns 137,899 shares of the asset manager’s stock worth $4,952,000 after acquiring an additional 259,087 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Legg Mason by 59.5% in the fourth quarter. Prudential Financial Inc. now owns 618,832 shares of the asset manager’s stock worth $22,223,000 after acquiring an additional 230,915 shares during the last quarter. Man Group plc purchased a new stake in shares of Legg Mason in the fourth quarter worth $6,837,000. Pzena Investment Management LLC grew its stake in shares of Legg Mason by 27.9% in the fourth quarter. Pzena Investment Management LLC now owns 818,431 shares of the asset manager’s stock worth $29,390,000 after acquiring an additional 178,385 shares during the last quarter. Finally, Credit Suisse AG grew its stake in shares of Legg Mason by 146.2% in the fourth quarter. Credit Suisse AG now owns 290,298 shares of the asset manager’s stock worth $10,424,000 after acquiring an additional 172,372 shares during the last quarter. 84.66% of the stock is currently owned by hedge funds and other institutional investors.
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.
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