Legg Mason Inc (NYSE:LM) has received an average rating of “Hold” from the fourteen research firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $45.60.

Several equities research analysts have commented on the stock. Citigroup reiterated a “neutral” rating and issued a $50.00 price objective (up previously from $49.00) on shares of Legg Mason in a research note on Thursday, January 25th. Jefferies Group lowered shares of Legg Mason from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Royal Bank of Canada set a $47.00 price objective on shares of Legg Mason and gave the company a “buy” rating in a research note on Wednesday, October 18th. 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 note on Tuesday, December 26th. Finally, Bank of America increased their price objective on shares of Legg Mason from $42.00 to $44.00 and gave the company an “underperform” rating in a research note on Thursday, January 25th.

Several institutional investors have recently added to or reduced their stakes in LM. Ameriprise Financial Inc. grew its position in shares of Legg Mason by 1.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 278,020 shares of the asset manager’s stock valued at $10,621,000 after acquiring an additional 3,058 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Legg Mason by 3.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 27,537 shares of the asset manager’s stock valued at $1,050,000 after acquiring an additional 948 shares during the period. Thrivent Financial For Lutherans grew its position in shares of Legg Mason by 5.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 17,160 shares of the asset manager’s stock valued at $655,000 after acquiring an additional 880 shares during the period. UBS Asset Management Americas Inc. grew its position in shares of Legg Mason by 3.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 84,596 shares of the asset manager’s stock valued at $3,228,000 after acquiring an additional 2,928 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Legg Mason by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 7,399,178 shares of the asset manager’s stock valued at $282,352,000 after acquiring an additional 174,167 shares during the period. 83.14% of the stock is owned by hedge funds and other institutional investors.

Legg Mason (NYSE:LM) traded down $2.16 on Friday, hitting $37.79. 1,409,592 shares of the company were exchanged, compared to its average volume of 1,072,837. The company has a quick ratio of 1.79, a current ratio of 1.98 and a debt-to-equity ratio of 0.58. Legg Mason has a 12 month low of $34.10 and a 12 month high of $47.13. The firm has a market cap of $3,428.11, a price-to-earnings ratio of 10.98, a PEG ratio of 0.65 and a beta of 2.19.

Legg Mason (NYSE:LM) last posted 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 company had revenue of $793.10 million for 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 firm’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 EPS. sell-side analysts predict that Legg Mason will post 3.66 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Wednesday, March 14th. Legg Mason’s dividend payout ratio is currently 30.77%.

TRADEMARK VIOLATION WARNING: “Analysts Set Legg Mason Inc (LM) Price Target at $45.60” was originally published by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another publication, it was illegally copied and republished in violation of US and international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2018/02/08/analysts-set-legg-mason-inc-lm-price-target-at-45-60.html.

About Legg Mason

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.

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.