Legg Mason Inc (NYSE:LM) has earned a consensus rating of “Hold” from the thirteen ratings firms that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $41.30.

A number of research firms have issued reports on LM. Morgan Stanley boosted their target price on shares of Legg Mason from $31.00 to $32.00 and gave the company a “sell” rating in a research note on Tuesday, October 9th. Royal Bank of Canada reissued a “buy” rating and set a $37.00 target price on shares of Legg Mason in a research note on Thursday, October 25th. Wells Fargo & Co reduced their target price on shares of Legg Mason from $39.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, October 25th. Jefferies Financial Group reissued a “hold” rating and set a $39.00 target price on shares of Legg Mason in a research note on Thursday, October 11th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $33.00 target price on shares of Legg Mason in a research note on Monday, October 29th.

In related news, insider Frances Cashman sold 10,058 shares of the 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 directly owns 72,937 shares of the company’s stock, valued at $2,305,538.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.33% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in LM. Clarkston Capital Partners LLC raised its holdings in shares of Legg Mason by 20.1% during the third quarter. Clarkston Capital Partners LLC now owns 4,461,535 shares of the asset manager’s stock valued at $139,334,000 after acquiring an additional 746,434 shares during the period. American Century Companies Inc. acquired a new stake in shares of Legg Mason during the second quarter valued at approximately $23,440,000. Algebris UK Ltd acquired a new stake in shares of Legg Mason during the second quarter valued at approximately $13,942,000. BlackRock Inc. raised its holdings in shares of Legg Mason by 4.7% during the third quarter. BlackRock Inc. now owns 8,048,661 shares of the asset manager’s stock valued at $251,359,000 after acquiring an additional 360,188 shares during the period. Finally, LSV Asset Management raised its holdings in shares of Legg Mason by 8.1% during the second quarter. LSV Asset Management now owns 4,030,818 shares of the asset manager’s stock valued at $139,990,000 after acquiring an additional 302,140 shares during the period. Institutional investors and hedge funds own 86.91% of the company’s stock.

Legg Mason stock traded down $0.36 during midday trading on Monday, reaching $28.93. 554,063 shares of the stock traded hands, compared to its average volume of 965,594. The company has a quick ratio of 1.64, a current ratio of 1.77 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 7.78, a PEG ratio of 0.51 and a beta of 1.72. Legg Mason has a fifty-two week low of $26.10 and a fifty-two week high of $47.13.

Legg Mason (NYSE:LM) last posted its earnings results on Wednesday, October 24th. The asset manager reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The firm had revenue of $758.43 million for the quarter, compared to analyst estimates of $755.29 million. Legg Mason had a net margin of 11.81% and a return on equity of 8.03%. Research analysts expect that Legg Mason will post 3.28 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 14th. Investors of record on Wednesday, December 19th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.70%. The ex-dividend date is Tuesday, December 18th. Legg Mason’s dividend payout ratio is presently 36.56%.

Legg Mason Company Profile

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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