Legg Mason Inc. (NYSE:LM) had its price target decreased by Jefferies Group from $38.00 to $33.00 in a report released on Tuesday. The brokerage currently has a “buy” rating on the stock. Jefferies Group’s price objective suggests a potential downside of 0.45% from the company’s current price.

LM has been the subject of a number of other research reports. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $4.00 target price on shares of Legg Mason in a research note on Monday, September 12th. Zacks Investment Research raised shares of Legg Mason from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 27th. Citigroup Inc. lifted their target price on shares of Legg Mason from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Wells Fargo & Co. reissued a “buy” rating on shares of Legg Mason in a research note on Monday, July 18th. Finally, Barclays PLC reissued an “overweight” rating and set a $41.00 target price on shares of Legg Mason in a research note on Sunday, July 31st. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Legg Mason has an average rating of “Buy” and a consensus price target of $37.67.

Analyst Recommendations for Legg Mason (NYSE:LM)

Legg Mason (NYSE:LM) traded down 4.07% during trading on Tuesday, reaching $31.80. 637,421 shares of the company’s stock were exchanged. The company’s market capitalization is $3.30 billion. Legg Mason has a 1-year low of $24.93 and a 1-year high of $46.41. The company’s 50-day moving average is $34.01 and its 200-day moving average is $32.94.

Legg Mason (NYSE:LM) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.06. Legg Mason had a negative net margin of 3.25% and a positive return on equity of 7.06%. The firm earned $700.20 million during the quarter, compared to analyst estimates of $681.99 million. During the same quarter last year, the business posted $1.14 EPS. The company’s revenue was down 1.2% on a year-over-year basis. Equities research analysts expect that Legg Mason will post $2.31 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 24th. Investors of record on Thursday, October 6th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, October 4th. This represents a $0.88 annualized dividend and a yield of 2.65%. Legg Mason’s dividend payout ratio (DPR) is presently -103.53%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Seven Eight Capital LLC purchased a new position in shares of Legg Mason during the first quarter valued at approximately $180,000. Neuberger Berman Group LLC purchased a new position in shares of Legg Mason during the second quarter valued at approximately $220,000. Ironwood Investment Counsel LLC purchased a new position in shares of Legg Mason during the first quarter valued at approximately $227,000. Calvert Investment Management Inc. increased its position in shares of Legg Mason by 8.0% in the second quarter. Calvert Investment Management Inc. now owns 8,702 shares of the company’s stock valued at $257,000 after buying an additional 643 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of Legg Mason by 540.0% in the second quarter. Tower Research Capital LLC TRC now owns 8,953 shares of the company’s stock valued at $264,000 after buying an additional 7,554 shares during the period. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Legg Mason Company Profile

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.

5 Day Chart for NYSE:LM

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