Credit Agricole S A boosted its stake in shares of Legg Mason Inc (NYSE:LM) by 49.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,928 shares of the asset manager’s stock after buying an additional 1,626 shares during the period. Credit Agricole S A’s holdings in Legg Mason were worth $147,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of LM. FMR LLC increased its position in Legg Mason by 21.9% in the fourth quarter. FMR LLC now owns 5,386,394 shares of the asset manager’s stock valued at $161,108,000 after buying an additional 966,605 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Legg Mason by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,193,091 shares of the asset manager’s stock worth $95,505,000 after buying an additional 247,544 shares in the last quarter. Clarkston Capital Partners LLC increased its stake in shares of Legg Mason by 5.5% in the third quarter. Clarkston Capital Partners LLC now owns 2,614,830 shares of the asset manager’s stock worth $87,544,000 after buying an additional 136,780 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Legg Mason by 1.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 1,280,000 shares of the asset manager’s stock worth $42,854,000 after buying an additional 20,000 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Legg Mason by 31.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 808,200 shares of the asset manager’s stock worth $27,059,000 after buying an additional 194,500 shares in the last quarter. 78.75% of the stock is currently owned by institutional investors.
Shares of Legg Mason Inc (NYSE:LM) traded down 0.93% on Friday, hitting $37.43. The stock had a trading volume of 710,514 shares. The company has a market capitalization of $3.65 billion, a PE ratio of 38.35 and a beta of 1.93. The firm has a 50-day moving average of $36.25 and a 200 day moving average of $33.36. Legg Mason Inc has a 1-year low of $27.54 and a 1-year high of $38.99.
Legg Mason (NYSE:LM) last announced its quarterly earnings data on Wednesday, February 1st. The asset manager reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by $0.14. Legg Mason had a net margin of 3.81% and a return on equity of 3.94%. The company had revenue of $715.20 million for the quarter, compared to the consensus estimate of $714.13 million. During the same quarter in the previous year, the business earned $1.45 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities analysts anticipate that Legg Mason Inc will post $2.26 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Thursday, March 16th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, March 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.35%. Legg Mason’s payout ratio is 87.13%.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised Legg Mason from a “sell” rating to a “hold” rating in a research report on Thursday, April 13th. Jefferies Group LLC increased their price target on Legg Mason from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, February 2nd. Evercore ISI downgraded Legg Mason from a “hold” rating to an “underperform” rating and set a $36.00 price target on the stock. in a research report on Friday, March 3rd. Citigroup Inc reduced their price target on Legg Mason from $40.50 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, January 25th. Finally, Barclays PLC restated a “buy” rating and set a $37.00 target price on shares of Legg Mason in a research note on Friday, January 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $40.00.
In related news, VP Thomas C. Merchant sold 6,595 shares of Legg Mason stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $36.06, for a total transaction of $237,815.70. Following the completion of the sale, the vice president now owns 56,101 shares in the company, valued at approximately $2,023,002.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Terence Johnson sold 13,325 shares of Legg Mason stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of $34.88, for a total transaction of $464,776.00. Following the completion of the transaction, the insider now directly owns 122,517 shares in the company, valued at approximately $4,273,392.96. The disclosure for this sale can be found here. Insiders have sold a total of 49,664 shares of company stock valued at $1,775,160 in the last quarter. 1.94% of the stock is currently owned by company insiders.
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.
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