Dalton Greiner Hartman Maher & Co. boosted its stake in Legg Mason Inc (NYSE:LM) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 527,188 shares of the asset manager’s stock after acquiring an additional 16,107 shares during the period. Legg Mason accounts for about 1.2% of Dalton Greiner Hartman Maher & Co.’s holdings, making the stock its 23rd biggest position. Dalton Greiner Hartman Maher & Co. owned approximately 0.57% of Legg Mason worth $22,131,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Legg Mason by 10.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,193 shares of the asset manager’s stock valued at $122,000 after purchasing an additional 294 shares in the last quarter. QCM Cayman Ltd. purchased a new stake in Legg Mason in the 2nd quarter valued at approximately $200,000. Gotham Asset Management LLC purchased a new stake in shares of Legg Mason during the 2nd quarter worth approximately $212,000. Institute for Wealth Management LLC. purchased a new stake in shares of Legg Mason during the 2nd quarter worth approximately $224,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Legg Mason during the 3rd quarter worth approximately $224,000. Hedge funds and other institutional investors own 82.49% of the company’s stock.
Shares of Legg Mason Inc (NYSE LM) traded down $0.51 during trading on Wednesday, reaching $43.23. 977,300 shares of the company were exchanged, compared to its average volume of 979,770. The company has a current ratio of 2.51, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. Legg Mason Inc has a 12-month low of $30.81 and a 12-month high of $44.26. The stock has a market cap of $4,021.35, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.03 and a beta of 2.27.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 15th. Shareholders of record on Wednesday, December 20th were given a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, December 19th. This represents a $1.12 dividend on an annualized basis and a yield of 2.59%. Legg Mason’s payout ratio is currently 43.75%.
LM has been the subject of several research reports. Keefe, Bruyette & Woods restated a “buy” rating and set a $47.00 price objective on shares of Legg Mason in a research report on Friday, September 29th. Morgan Stanley downgraded Legg Mason from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $37.00 to $36.00 in a report on Thursday, October 5th. Deutsche Bank began coverage on Legg Mason in a report on Tuesday, October 17th. They issued a “buy” rating and a $44.00 price target for the company. Royal Bank of Canada set a $47.00 price target on Legg Mason and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, Credit Suisse Group boosted their price target on Legg Mason from $48.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Legg Mason has an average rating of “Hold” and a consensus price target of $43.90.
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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