Shares of Legg Mason Inc (NYSE:LM) have earned an average recommendation of “Hold” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and ten have issued a hold rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $46.78.

LM has been the topic of several research reports. Royal Bank of Canada reiterated a “hold” rating and set a $50.00 price objective on shares of Legg Mason in a research note on Thursday, April 23rd. ValuEngine cut Legg Mason from a “hold” rating to a “sell” rating in a research note on Friday, May 1st.

Shares of LM remained flat at $$49.71 on Friday. The company had a trading volume of 1,056,978 shares, compared to its average volume of 2,123,260. The company has a quick ratio of 1.71, a current ratio of 2.20 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average of $49.81 and a two-hundred day moving average of $45.65. Legg Mason has a 1-year low of $33.99 and a 1-year high of $50.70. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 1.58 and a beta of 0.74.

Legg Mason (NYSE:LM) last issued its quarterly earnings data on Wednesday, April 29th. The asset manager reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.14. Legg Mason had a return on equity of 8.96% and a net margin of 8.60%. The business had revenue of $719.60 million during the quarter, compared to analyst estimates of $702.81 million. During the same period in the previous year, the firm earned $0.70 EPS. Legg Mason’s quarterly revenue was up 3.9% compared to the same quarter last year. Sell-side analysts expect that Legg Mason will post 2.76 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Tuesday, June 16th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Monday, June 15th. Legg Mason’s dividend payout ratio is 42.55%.

In other Legg Mason news, CEO Joseph A. Sullivan sold 223,256 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $50.04, for a total value of $11,171,730.24. Following the transaction, the chief executive officer now directly owns 812,247 shares of the company’s stock, valued at approximately $40,644,839.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph A. Sullivan sold 648,178 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $49.98, for a total value of $32,395,936.44. Following the sale, the chief executive officer now directly owns 742,420 shares in the company, valued at $37,106,151.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,973,296 shares of company stock worth $98,505,215. Insiders own 8.08% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LM. Sei Investments Co. lifted its position in shares of Legg Mason by 7.2% during the 4th quarter. Sei Investments Co. now owns 64,899 shares of the asset manager’s stock worth $2,330,000 after buying an additional 4,351 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Legg Mason by 27.0% during the 4th quarter. Victory Capital Management Inc. now owns 47,945 shares of the asset manager’s stock worth $1,722,000 after buying an additional 10,190 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Legg Mason by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 489,042 shares of the asset manager’s stock worth $17,562,000 after buying an additional 24,698 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Legg Mason during the 4th quarter worth $302,000. Finally, Rafferty Asset Management LLC lifted its position in shares of Legg Mason by 8.8% during the 4th quarter. Rafferty Asset Management LLC now owns 13,977 shares of the asset manager’s stock worth $502,000 after buying an additional 1,130 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

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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