The Boston Partners Has $7.64 Million Stake in Legg Mason Inc (LM)

The Boston Partners Has $7.64 Million Stake in Legg Mason Inc (LM)

Other institutional investors have also bought and sold shares of the company. Capstone Asset Management Co. boosted its stake in shares of Legg Mason by 0.8% in the first quarter. Capstone Asset Management Co. now owns 12,085 shares of the asset manager’s stock worth $436,000 after buying an additional 100 shares during the last quarter. Westbourne Investment Advisors Inc. boosted its stake in shares of Legg Mason by 1.8% in the first quarter. Westbourne Investment Advisors Inc. now owns 12,508 shares of the asset manager’s stock worth $452,000 after buying an additional 223 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Legg Mason by 2.0% in the first quarter. Raymond James Trust N.A. now owns 13,752 shares of the asset manager’s stock worth $497,000 after buying an additional 271 shares during the last quarter. Bartlett & Co. LLC boosted its stake in shares of Legg Mason by 2.3% in the first quarter. Bartlett & Co. LLC now owns 22,151 shares of the asset manager’s stock worth $800,000 after buying an additional 500 shares during the last quarter. Finally, BlackRock Advisors LLC boosted its stake in shares of Legg Mason by 1.4% in the third quarter. BlackRock Advisors LLC now owns 43,903 shares of the asset manager’s stock worth $1,470,000 after buying an additional 588 shares during the last quarter. Institutional investors own 78.75% of the company’s stock.

Boston Partners raised its position in Legg Mason Inc (NYSE:LM) by 57.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 211,476 shares of the asset manager’s stock after buying an additional 77,176 shares during the period. Boston Partners owned approximately 0.22% of Legg Mason worth $7,636,000 at the end of the most recent quarter.

Legg Mason Inc (NYSE LM) opened at 38.03 on Monday. Legg Mason Inc has a 12-month low of $27.54 and a 12-month high of $38.99. The firm has a 50-day moving average of $37.51 and a 200 day moving average of $34.74. The company has a market capitalization of $3.65 billion, a PE ratio of 17.44 and a beta of 1.93.

Legg Mason (NYSE:LM) last released its earnings results on Wednesday, April 26th. The asset manager reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.29. The firm had revenue of $723.13 million for the quarter, compared to analysts’ expectations of $701.50 million. Legg Mason had a net margin of 3.81% and a return on equity of 3.94%. The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.15) earnings per share. Analysts forecast that Legg Mason Inc will post $2.26 EPS for the current fiscal year. The firm also recently declared a quarterly dividend, which will be paid on Monday, July 10th. Stockholders of record on Tuesday, June 13th will be given a $0.28 dividend. The ex-dividend date is Friday, June 9th. This represents a $1.12 annualized dividend and a dividend yield of 2.95%. This is a positive change from Legg Mason’s previous quarterly dividend of $0.22. Legg Mason’s payout ratio is 87.13%.

A number of equities research analysts have recently issued reports on LM shares. Evercore ISI cut shares of Legg Mason from a “hold” rating to an “underperform” rating and set a $36.00 target price on the stock. in a report on Friday, March 3rd. Jefferies Group LLC upped their target price on shares of Legg Mason from $41.00 to $43.00 and gave the company a “buy” rating in a report on Friday, April 28th. Zacks Investment Research cut shares of Legg Mason from a “hold” rating to a “sell” rating in a report on Monday, March 20th. ValuEngine cut shares of Legg Mason from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $43.00 price target on shares of Legg Mason in a report on Tuesday, May 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $39.29. In other news, CAO Ursula Schliessler sold 1,745 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $37.39, for a total value of $65,245.55. Following the sale, the chief accounting officer now owns 14,445 shares of the company’s stock, valued at $540,098.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Terence Johnson sold 8,777 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $37.24, for a total transaction of $326,855.48. Following the completion of the sale, the insider now directly owns 100,415 shares in the company, valued at approximately $3,739,454.60. The disclosure for this sale can be found here. In the last three months, insiders sold 23,847 shares of company stock worth $856,877. Insiders own 1.94% of the company’s stock.

About Legg Mason 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “LM”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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