Robeco Institutional Asset Management B.V. boosted its holdings in Legg Mason, Inc. (NYSE:LM) by 808.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,078 shares of the asset manager’s stock after purchasing an additional 112,206 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.13% of Legg Mason worth $4,958,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in LM. Mutual of America Capital Management LLC boosted its position in shares of Legg Mason by 3.1% in the third quarter. Mutual of America Capital Management LLC now owns 70,060 shares of the asset manager’s stock worth $2,754,000 after buying an additional 2,121 shares during the period. Shell Asset Management Co. purchased a new stake in shares of Legg Mason in the third quarter worth about $953,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Legg Mason in the second quarter worth about $1,453,000. Public Employees Retirement System of Ohio boosted its position in shares of Legg Mason by 30.8% in the second quarter. Public Employees Retirement System of Ohio now owns 53,710 shares of the asset manager’s stock worth $2,050,000 after buying an additional 12,655 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in shares of Legg Mason in the second quarter worth about $429,000. Hedge funds and other institutional investors own 83.21% of the company’s stock.
Several research analysts recently commented on LM shares. BidaskClub cut Legg Mason from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Morgan Stanley cut Legg Mason from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $37.00 to $36.00 in a research note on Thursday, October 5th. Citigroup Inc. restated a “neutral” rating and set a $41.00 price objective (down previously from $43.00) on shares of Legg Mason in a research note on Friday, August 11th. Royal Bank Of Canada restated a “buy” rating and set a $47.00 price objective on shares of Legg Mason in a research note on Friday, July 28th. Finally, Barclays PLC initiated coverage on Legg Mason in a research report on Friday, September 8th. They set an “equal weight” rating and a $39.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Legg Mason presently has a consensus rating of “Hold” and an average target price of $43.10.
Shares of Legg Mason, Inc. (NYSE:LM) traded down $0.23 during midday trading on Tuesday, reaching $37.83. The company’s stock had a trading volume of 780,400 shares, compared to its average volume of 1,093,429. The company has a current ratio of 2.51, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The company has a market cap of $3,499.14, a price-to-earnings ratio of 13.26, a P/E/G ratio of 0.89 and a beta of 2.27. Legg Mason, Inc. has a 52-week low of $29.71 and a 52-week high of $42.08.
Legg Mason (NYSE:LM) last released its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.10. The business had revenue of $768.30 million during the quarter, compared to analyst estimates of $739.47 million. Legg Mason had a return on equity of 7.16% and a net margin of 8.46%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $0.63 EPS. analysts predict that Legg Mason, Inc. will post 2.84 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Wednesday, December 20th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Tuesday, December 19th. Legg Mason’s dividend payout ratio is presently 43.75%.
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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.
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