Legg Mason (LM) PT Lowered to $41.00

Legg Mason (NYSE:LM) had its price objective reduced by Barclays from $44.00 to $41.00 in a research report issued to clients and investors on Monday. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Barclays’ price target indicates a potential upside of 8.70% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Legg Mason from a “hold” rating to a “sell” rating in a report on Tuesday, April 17th. ValuEngine downgraded shares of Legg Mason from a “buy” rating to a “hold” rating in a report on Thursday, April 12th. Jefferies Group reiterated a “hold” rating and issued a $45.00 price target on shares of Legg Mason in a report on Wednesday, April 11th. Morgan Stanley reduced their price target on shares of Legg Mason from $42.00 to $40.00 and set an “underweight” rating on the stock in a report on Tuesday, April 10th. Finally, Deutsche Bank lifted their price target on shares of Legg Mason from $46.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 6th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $46.60.

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NYSE LM traded down $0.35 on Monday, reaching $37.72. The company had a trading volume of 668,095 shares, compared to its average volume of 906,265. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.41 and a current ratio of 1.98. The company has a market cap of $3,218.45, a P/E ratio of 11.42, a P/E/G ratio of 0.67 and a beta of 2.05. Legg Mason has a 12 month low of $36.10 and a 12 month high of $47.13.



Legg Mason (NYSE:LM) last announced its quarterly earnings results on Wednesday, January 24th. The asset manager reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.18. The company had revenue of $793.10 million for the quarter, compared to the consensus estimate of $777.11 million. Legg Mason had a net margin of 11.43% and a return on equity of 8.21%. Legg Mason’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 EPS. analysts forecast that Legg Mason will post 3.61 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. First Allied Advisory Services Inc. boosted its stake in shares of Legg Mason by 21.0% during the 4th quarter. First Allied Advisory Services Inc. now owns 8,110 shares of the asset manager’s stock worth $341,000 after purchasing an additional 1,408 shares during the period. Bank of Montreal Can boosted its stake in shares of Legg Mason by 20.9% during the 4th quarter. Bank of Montreal Can now owns 8,215 shares of the asset manager’s stock worth $345,000 after purchasing an additional 1,421 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Legg Mason by 47.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,711 shares of the asset manager’s stock worth $198,000 after purchasing an additional 1,518 shares during the period. Bessemer Group Inc. boosted its stake in shares of Legg Mason by 219.1% during the 4th quarter. Bessemer Group Inc. now owns 4,499 shares of the asset manager’s stock worth $189,000 after purchasing an additional 3,089 shares during the period. Finally, GHP Investment Advisors Inc. boosted its stake in shares of Legg Mason by 8.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 40,491 shares of the asset manager’s stock worth $1,700,000 after purchasing an additional 3,119 shares during the period. Hedge funds and other institutional investors own 91.46% of the company’s stock.

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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.

Analyst Recommendations for Legg Mason (NYSE:LM)

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