November 29, 2016 - By Richard Conner · 0 Comments
Legg Mason Inc (NYSE:LM) institutional sentiment increased to 0.75 in Q2 2016. Its up 0.01, from 0.74 in 2016Q1. The ratio has increased, as 126 institutional investors opened new and increased stock positions, while 170 reduced and sold stakes in Legg Mason Inc. The institutional investors in our partner’s database now own: 80.49 million shares, down from 98.38 million shares in 2016Q1. Also, the number of institutional investors holding Legg Mason Inc in their top 10 stock positions decreased from 6 to 5 for a decrease of 1. Sold All: 57 Reduced: 113 Increased: 92 New Position: 34.
Legg Mason, Inc. is a holding company. The company has a market cap of $3.19 billion. The Firm and its subsidiaries are principally engaged in providing asset management and related financial services to individuals, institutions, firms and municipalities. It currently has negative earnings. The Firm operates through Global Asset Management segment.
The stock decreased 2.57% or $0.83 during the last trading session, hitting $31.47. Legg Mason Inc (NYSE:LM) has declined 9.05% since April 26, 2016 and is downtrending. It has underperformed by 14.31% the S&P500.
Analysts await Legg Mason Inc (NYSE:LM) to report earnings on January, 27. They expect $0.65 earnings per share, down 55.17% or $0.80 from last year’s $1.45 per share. LM’s profit will be $65.89M for 12.10 P/E if the $0.65 EPS becomes a reality. After $0.63 actual earnings per share reported by Legg Mason Inc for the previous quarter, Wall Street now forecasts 3.17% EPS growth.
According to Zacks Investment Research, “Legg Mason, Inc. is a holding company which, through its subsidiaries, is principally engaged in providing asset management, securities brokerage, investment banking and related financial services to individuals, institutions, corporations and municipalities.”
Park Circle Co holds 12.52% of its portfolio in Legg Mason Inc for 588,000 shares. Junto Capital Management Lp owns 1.48 million shares or 6.81% of their US portfolio. Moreover, Valueworks Llc has 4.29% invested in the company for 144,588 shares. The New York-based Alpenglow Capital Lp has invested 4.17% in the stock. Clarkston Capital Partners Llc, a Michigan-based fund reported 2.48 million shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 1 buy, and 0 sales for $101,760 net activity.
Ratings analysis reveals 73% of Legg Mason Inc.’s analysts are positive. Out of 11 Wall Street analysts rating Legg Mason Inc., 8 give it “Buy”, 1 “Sell” rating, while 2 recommend “Hold”. The lowest target is $2 while the high is $67. The stock’s average target of $44.55 is 41.56% above today’s ($31.47) share price. LM was included in 33 notes of analysts from August 4, 2015. On Thursday, August 20 the stock rating was maintained by RBC Capital Markets with “Outperform”. As per Wednesday, August 26, the company rating was upgraded by Danske Bank. The rating was maintained by RBC Capital Markets with “Sector Perform” on Monday, November 2. As per Monday, August 3, the company rating was maintained by RBC Capital Markets. Barclays Capital upgraded it to “Overweight” rating and $57 target price in Thursday, August 13 report. The firm has “Buy” rating given on Thursday, September 10 by Citigroup. The firm has “Buy” rating by Citigroup given on Friday, April 15. As per Wednesday, March 16, the company rating was upgraded by Credit Suisse. The firm has “Buy” rating given on Wednesday, October 7 by Jefferies. As per Friday, September 25, the company rating was upgraded by Liberum Capital.
Legg Mason, Inc., incorporated on January 13, 1981, is a holding company. The Firm and its subsidiaries are principally engaged in providing asset management and related financial services to individuals, institutions, firms and municipalities. The Firm 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. The Company, through its subsidiaries, provides investment management and related services to institutional and individual clients, Company-sponsored investment funds and retail separately managed account programs. The Firm offers its services and products directly and through various financial intermediaries. The Firm has activities principally in the United States and the United Kingdom and also have offices in Australia, Bahamas, Brazil, Canada, Chile, China, Dubai, France, Germany, Italy, Japan, Luxembourg, Poland, Singapore, Spain, Switzerland and Taiwan.
More news for Legg Mason Inc (NYSE:LM) were recently published by: Bizjournals.com, which released: “T. Rowe Price and Legg Mason shares see post-election surge” on November 10, 2016. Seekingalpha.com‘s article titled: “Legg Mason adds to ETF offerings” and published on November 22, 2016 is yet another important article.
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By Richard Conner