Equities research analysts at Deutsche Bank AG began coverage on shares of Legg Mason, Inc. (NYSE:LM) in a research note issued on Tuesday, October 17th. The firm set a “buy” rating and a $44.00 price target on the asset manager’s stock. Deutsche Bank AG’s target price suggests a potential upside of 13.34% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Legg Mason from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 21st. Royal Bank Of Canada restated a “buy” rating and issued a $47.00 target price on shares of Legg Mason in a report on Friday, July 28th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $47.00 target price on shares of Legg Mason in a research note on Friday, September 29th. Citigroup Inc. lowered shares of Legg Mason from a “buy” rating to a “neutral” rating in a research report on Thursday, July 13th. Finally, Morgan Stanley lowered shares of Legg Mason from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $37.00 to $36.00 in a research report on Thursday, October 5th. Three analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $43.11.
Legg Mason (NYSE LM) traded up $0.13 during trading on Tuesday, hitting $38.82. The company had a trading volume of 320,074 shares, compared to its average volume of 990,966. The company has a current ratio of 2.74, a quick ratio of 1.93 and a debt-to-equity ratio of 0.56. The company has a market cap of $3,621.36, a PE ratio of 13.48, a P/E/G ratio of 0.91 and a beta of 2.27.
Legg Mason (NYSE:LM) last posted its earnings results on Wednesday, October 25th. The asset manager reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.10. Legg Mason had a net margin of 8.46% and a return on equity of 7.15%. The firm had revenue of $768.30 million for the quarter, compared to the consensus estimate of $739.47 million. During the same period last year, the firm posted $0.63 EPS. The company’s revenue was up 2.7% on a year-over-year basis. research analysts forecast that Legg Mason will post 2.84 EPS for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of the business. UBS Asset Management Americas Inc. lifted its stake in Legg Mason by 13.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 81,668 shares of the asset manager’s stock valued at $2,949,000 after acquiring an additional 9,978 shares in the last quarter. Sei Investments Co. increased its holdings in Legg Mason by 894.4% in the 1st quarter. Sei Investments Co. now owns 11,217 shares of the asset manager’s stock worth $405,000 after purchasing an additional 10,089 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Legg Mason in the 1st quarter worth about $246,000. Envestnet Asset Management Inc. grew its stake in Legg Mason by 23.1% during the first quarter. Envestnet Asset Management Inc. now owns 5,857 shares of the asset manager’s stock worth $212,000 after purchasing an additional 1,100 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Legg Mason by 14.8% in the first quarter. JPMorgan Chase & Co. now owns 206,665 shares of the asset manager’s stock worth $7,463,000 after acquiring an additional 26,711 shares in the last quarter. Hedge funds and other institutional investors own 83.47% 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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