Legg Mason (LM) Hits New 12-Month Low at $31.09

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Legg Mason Inc (NYSE:LM)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $31.09 and last traded at $31.20, with a volume of 656271 shares. The stock had previously closed at $31.58.

Several equities research analysts have issued reports on the stock. ValuEngine lowered shares of Legg Mason from a “hold” rating to a “sell” rating in a report on Wednesday, June 6th. TheStreet lowered shares of Legg Mason from a “b” rating to a “c+” rating in a report on Thursday, June 7th. Zacks Investment Research lowered shares of Legg Mason from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Morgan Stanley lowered their price target on shares of Legg Mason from $39.00 to $34.00 and set an “underweight” rating on the stock in a report on Thursday, July 12th. Finally, Wells Fargo & Co lowered their price target on shares of Legg Mason from $44.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, July 13th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $44.36.

The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.64 and a current ratio of 2.41. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 0.54 and a beta of 1.88.

Legg Mason (NYSE:LM) last posted its earnings results on Wednesday, July 25th. The asset manager reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.03). Legg Mason had a return on equity of 8.12% and a net margin of 11.87%. The firm had revenue of $747.91 million during the quarter, compared to the consensus estimate of $748.72 million. During the same period in the previous year, the company posted $0.52 EPS. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. equities analysts predict that Legg Mason Inc will post 3.46 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 23rd. Stockholders of record on Friday, October 5th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.41%. The ex-dividend date is Thursday, October 4th. Legg Mason’s payout ratio is 36.56%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Stephens Inc. AR bought a new stake in shares of Legg Mason in the 1st quarter worth about $885,000. Systematic Financial Management LP grew its holdings in shares of Legg Mason by 23.4% in the 2nd quarter. Systematic Financial Management LP now owns 411,325 shares of the asset manager’s stock worth $14,285,000 after purchasing an additional 77,994 shares during the last quarter. Northern Trust Corp lifted its position in Legg Mason by 1.0% during the 1st quarter. Northern Trust Corp now owns 720,262 shares of the asset manager’s stock worth $29,278,000 after buying an additional 7,421 shares in the last quarter. Swiss National Bank lifted its position in Legg Mason by 2.0% during the 1st quarter. Swiss National Bank now owns 154,547 shares of the asset manager’s stock worth $6,282,000 after buying an additional 3,100 shares in the last quarter. Finally, LPL Financial LLC acquired a new position in Legg Mason during the 1st quarter worth about $306,000. 86.56% of the stock is currently owned by institutional investors and hedge funds.

Legg Mason Company Profile (NYSE:LM)

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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