342,100 Shares in Legg Mason, Inc. (LM) Purchased by UBS Oconnor LLC
UBS Oconnor LLC acquired a new position in Legg Mason, Inc. (NYSE:LM) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 342,100 shares of the asset manager’s stock, valued at approximately $13,055,000. UBS Oconnor LLC owned 0.37% of Legg Mason at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of LM. Vanguard Group Inc. increased its holdings in Legg Mason by 1.6% in the first quarter. Vanguard Group Inc. now owns 7,225,011 shares of the asset manager’s stock worth $260,895,000 after purchasing an additional 111,523 shares in the last quarter. WBI Investments Inc. bought a new stake in Legg Mason in the second quarter worth approximately $1,654,000. Legal & General Group Plc increased its holdings in Legg Mason by 46.1% in the first quarter. Legal & General Group Plc now owns 123,073 shares of the asset manager’s stock worth $4,445,000 after purchasing an additional 38,833 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Legg Mason by 58.9% in the second quarter. BNP Paribas Arbitrage SA now owns 39,569 shares of the asset manager’s stock worth $1,510,000 after purchasing an additional 14,673 shares in the last quarter. Finally, North Star Asset Management Inc. bought a new stake in Legg Mason in the first quarter worth approximately $234,000. 82.28% of the stock is currently owned by institutional investors.
A number of equities research analysts have weighed in on the company. Citigroup Inc. downgraded Legg Mason from a “buy” rating to a “neutral” rating in a report on Thursday, July 13th. BidaskClub upgraded Legg Mason from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. TheStreet upgraded Legg Mason from a “c+” rating to a “b” rating in a report on Friday, June 30th. ValuEngine upgraded Legg Mason from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $38.00 target price (up from $35.00) on shares of Legg Mason in a report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Legg Mason has an average rating of “Hold” and a consensus target price of $42.00.
Legg Mason, Inc. (NYSE LM) traded down 0.13% during midday trading on Friday, hitting $39.31. The stock had a trading volume of 686,290 shares. The company has a market cap of $3.68 billion, a P/E ratio of 16.34 and a beta of 2.21. Legg Mason, Inc. has a 12 month low of $28.10 and a 12 month high of $42.08. The firm’s 50-day moving average price is $37.71 and its 200 day moving average price is $37.80.
Legg Mason (NYSE:LM) last released its earnings results on Wednesday, July 26th. The asset manager reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.09. Legg Mason had a return on equity of 6.84% and a net margin of 8.21%. The company had revenue of $793.80 million during the quarter, compared to analysts’ expectations of $766.60 million. During the same quarter last year, the business posted $0.68 EPS. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, analysts expect 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 will be paid on Monday, October 23rd. Investors of record on Thursday, October 5th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Wednesday, October 4th. Legg Mason’s dividend payout ratio (DPR) is presently 46.47%.
Legg Mason 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.
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