ING Groep NV acquired a new stake in Legg Mason Inc (NYSE:LM) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 13,090 shares of the asset manager’s stock, valued at approximately $455,000.

Several other institutional investors have also made changes to their positions in LM. Dimensional Fund Advisors LP boosted its position in Legg Mason by 2.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,115,099 shares of the asset manager’s stock valued at $167,279,000 after buying an additional 88,179 shares during the period. LSV Asset Management boosted its position in Legg Mason by 8.1% during the 2nd quarter. LSV Asset Management now owns 4,030,818 shares of the asset manager’s stock valued at $139,990,000 after buying an additional 302,140 shares during the period. Clarkston Capital Partners LLC boosted its position in Legg Mason by 12.5% during the 2nd quarter. Clarkston Capital Partners LLC now owns 3,715,101 shares of the asset manager’s stock valued at $129,025,000 after buying an additional 412,813 shares during the period. Prudential Financial Inc. boosted its position in Legg Mason by 1,113.7% during the 1st quarter. Prudential Financial Inc. now owns 809,424 shares of the asset manager’s stock valued at $32,904,000 after buying an additional 742,731 shares during the period. Finally, Northern Trust Corp boosted its position in Legg Mason by 1.0% during the 1st quarter. Northern Trust Corp now owns 720,262 shares of the asset manager’s stock valued at $29,278,000 after buying an additional 7,421 shares during the period. 86.57% of the stock is owned by institutional investors.

Shares of NYSE LM opened at $30.80 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.41 and a quick ratio of 1.64. Legg Mason Inc has a 12 month low of $30.51 and a 12 month high of $47.13. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 0.54 and a beta of 1.87.

Legg Mason (NYSE:LM) last issued its quarterly earnings data on Wednesday, July 25th. The asset manager reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.03). Legg Mason had a return on equity of 8.12% and a net margin of 11.87%. The company had revenue of $747.91 million during the quarter, compared to the consensus estimate of $748.72 million. During the same quarter last year, the company posted $0.52 earnings per share. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. equities research analysts expect that Legg Mason Inc will post 3.46 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 23rd. Investors of record on Friday, October 5th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.36 annualized dividend and a dividend yield of 4.42%. Legg Mason’s payout ratio is 36.56%.

Several research analysts have commented on LM shares. Morgan Stanley decreased their price objective on shares of Legg Mason from $34.00 to $31.00 and set an “underweight” rating for the company in a report on Thursday, August 2nd. Royal Bank of Canada restated a “buy” rating and issued a $40.00 price objective on shares of Legg Mason in a report on Thursday, July 26th. Wells Fargo & Co decreased their price objective on shares of Legg Mason from $44.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, July 13th. TheStreet lowered shares of Legg Mason from a “b” rating to a “c+” rating in a report on Thursday, June 7th. Finally, ValuEngine lowered shares of Legg Mason from a “hold” rating to a “sell” rating in a report on Wednesday, June 6th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $44.36.

About Legg Mason

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.

Further Reading: Stock Symbols and CUSIP Explained

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

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