Legg Mason (NYSE:LM)‘s stock had its “hold” rating reiterated by investment analysts at Jefferies Financial Group in a research note issued on Thursday. They presently have a $39.00 target price on the asset manager’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 35.28% from the stock’s previous close. Jefferies Financial Group also issued estimates for Legg Mason’s Q4 2019 earnings at $0.87 EPS and FY2019 earnings at $3.36 EPS.

A number of other analysts also recently weighed in on the stock. Morgan Stanley decreased their price target on shares of Legg Mason from $34.00 to $31.00 and set an “underweight” rating for the company in a research report on Thursday, August 2nd. Royal Bank of Canada reissued a “buy” rating and set a $40.00 price target on shares of Legg Mason in a research report on Thursday, July 26th. Wells Fargo & Co decreased their price target on shares of Legg Mason from $44.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, July 13th. ValuEngine downgraded shares of Legg Mason from a “sell” rating to a “strong sell” rating in a research report on Monday, July 2nd. Finally, Zacks Investment Research downgraded shares of Legg Mason from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Legg Mason presently has an average rating of “Hold” and an average target price of $43.60.

Shares of NYSE:LM opened at $28.83 on Thursday. 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 has a 52-week low of $28.24 and a 52-week high of $47.13. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 7.86, a PEG ratio of 0.54 and a beta of 1.88.

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

In other news, insider Frances Cashman sold 10,058 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $31.61, for a total transaction of $317,933.38. Following the completion of the sale, the insider now owns 72,937 shares of the company’s stock, valued at $2,305,538.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.33% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board acquired a new position in Legg Mason in the second quarter worth $142,000. Group One Trading L.P. acquired a new position in Legg Mason in the first quarter worth $239,000. Paloma Partners Management Co boosted its holdings in Legg Mason by 42.9% in the second quarter. Paloma Partners Management Co now owns 7,450 shares of the asset manager’s stock worth $258,000 after purchasing an additional 2,235 shares during the period. Acadian Asset Management LLC boosted its holdings in Legg Mason by 7,531.0% in the second quarter. Acadian Asset Management LLC now owns 7,631 shares of the asset manager’s stock worth $265,000 after purchasing an additional 7,531 shares during the period. Finally, Granite Investment Advisors LLC boosted its holdings in Legg Mason by 29.2% in the second quarter. Granite Investment Advisors LLC now owns 7,750 shares of the asset manager’s stock worth $269,000 after purchasing an additional 1,750 shares during the period. 86.55% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Legg Mason (NYSE:LM)

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