Legg Mason Inc (NYSE:LM) Shares Purchased by Brinker Capital Inc.

Brinker Capital Inc. raised its holdings in shares of Legg Mason Inc (NYSE:LM) by 4.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 42,901 shares of the asset manager’s stock after acquiring an additional 1,692 shares during the quarter. Brinker Capital Inc.’s holdings in Legg Mason were worth $1,638,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in LM. BlackRock Inc. raised its stake in shares of Legg Mason by 0.8% during the second quarter. BlackRock Inc. now owns 8,008,267 shares of the asset manager’s stock valued at $306,557,000 after purchasing an additional 66,137 shares during the period. Trian Fund Management L.P. purchased a new stake in shares of Legg Mason during the second quarter valued at approximately $148,441,000. APG Asset Management N.V. raised its stake in shares of Legg Mason by 45.4% during the second quarter. APG Asset Management N.V. now owns 1,770,100 shares of the asset manager’s stock valued at $59,501,000 after purchasing an additional 552,900 shares during the period. Renaissance Technologies LLC raised its stake in shares of Legg Mason by 7.2% during the second quarter. Renaissance Technologies LLC now owns 1,535,300 shares of the asset manager’s stock valued at $58,771,000 after purchasing an additional 103,700 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Legg Mason by 296.0% during the second quarter. Invesco Ltd. now owns 1,527,542 shares of the asset manager’s stock valued at $58,474,000 after purchasing an additional 1,141,841 shares during the period. 87.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:LM opened at $35.57 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.41 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $37.25 and a 200 day simple moving average of $36.38. The firm has a market cap of $3.06 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 0.78 and a beta of 1.51. Legg Mason Inc has a 12-month low of $23.25 and a 12-month high of $40.27.

Legg Mason (NYSE:LM) last issued its quarterly earnings results on Thursday, August 1st. The asset manager reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $705.36 million during the quarter, compared to analyst estimates of $708.70 million. Legg Mason had a negative net margin of 1.72% and a positive return on equity of 7.24%. The business’s revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 earnings per share. As a group, equities research analysts forecast that Legg Mason Inc will post 3.53 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Thursday, October 10th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.50%. Legg Mason’s dividend payout ratio (DPR) is presently 52.63%.

A number of analysts have recently issued reports on LM shares. ValuEngine lowered shares of Legg Mason from a “sell” rating to a “strong sell” rating in a research note on Monday, October 7th. Evercore ISI reiterated a “hold” rating and set a $36.00 price objective on shares of Legg Mason in a research note on Tuesday, August 13th. Credit Suisse Group lifted their price objective on shares of Legg Mason from $39.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Wells Fargo & Co set a $38.00 price objective on shares of Legg Mason and gave the company a “hold” rating in a research note on Thursday, October 10th. Finally, Zacks Investment Research lowered shares of Legg Mason from a “buy” rating to a “hold” rating and set a $38.00 price objective on the stock. in a research note on Monday, August 19th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $34.36.

About Legg Mason

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

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