KBC Group NV grew its stake in shares of Legg Mason Inc (NYSE:LM) by 20.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 225,418 shares of the asset manager’s stock after buying an additional 38,496 shares during the period. KBC Group NV’s holdings in Legg Mason were worth $9,463,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of LM. LSV Asset Management raised its stake in Legg Mason by 23.1% during the 4th quarter. LSV Asset Management now owns 3,469,278 shares of the asset manager’s stock valued at $145,640,000 after purchasing an additional 650,160 shares during the period. Cornerstone Capital Management Holdings LLC. raised its stake in Legg Mason by 164.8% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 514,812 shares of the asset manager’s stock valued at $20,236,000 after purchasing an additional 320,376 shares during the period. Seminole Management Co. Inc. bought a new stake in Legg Mason during the 4th quarter valued at approximately $12,966,000. APG Asset Management N.V. raised its stake in Legg Mason by 405.7% during the 4th quarter. APG Asset Management N.V. now owns 273,100 shares of the asset manager’s stock valued at $9,548,000 after purchasing an additional 219,100 shares during the period. Finally, First Trust Advisors LP raised its stake in Legg Mason by 153.7% during the 3rd quarter. First Trust Advisors LP now owns 346,610 shares of the asset manager’s stock valued at $13,625,000 after purchasing an additional 209,971 shares during the period. 90.71% of the stock is currently owned by hedge funds and other institutional investors.

Legg Mason Inc (LM) opened at $39.20 on Thursday. The firm has a market capitalization of $3,240.43, a P/E ratio of 10.77, a PEG ratio of 0.60 and a beta of 2.19. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.58. Legg Mason Inc has a 12-month low of $34.10 and a 12-month high of $47.13.

Legg Mason (NYSE:LM) last posted its quarterly earnings data on Wednesday, January 24th. The asset manager reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.18. Legg Mason had a return on equity of 8.21% and a net margin of 11.43%. The company had revenue of $793.10 million during the quarter, compared to analysts’ expectations of $777.11 million. During the same quarter in the previous year, the business earned $0.50 EPS. Legg Mason’s revenue was up 10.9% compared to the same quarter last year. analysts forecast that Legg Mason Inc will post 3.73 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 15th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Wednesday, March 14th. Legg Mason’s payout ratio is currently 30.77%.

Several brokerages recently issued reports on LM. Jefferies Group downgraded Legg Mason from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Morgan Stanley lifted their target price on Legg Mason from $40.00 to $42.00 and gave the company a “sell” rating in a research note on Tuesday, January 30th. Bank of America lifted their target price on Legg Mason from $42.00 to $44.00 and gave the company an “underperform” rating in a research note on Thursday, January 25th. Royal Bank of Canada set a $49.00 price objective on Legg Mason and gave the stock a “buy” rating in a research note on Friday, December 15th. Finally, Zacks Investment Research raised Legg Mason from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective on the stock in a research note on Tuesday, December 26th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $45.91.

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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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Institutional Ownership by Quarter for Legg Mason (NYSE:LM)

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