River & Mercantile Asset Management LLP Acquires 12,951 Shares of Legg Mason Inc (LM)

River & Mercantile Asset Management LLP boosted its holdings in shares of Legg Mason Inc (NYSE:LM) by 12.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,152 shares of the asset manager’s stock after acquiring an additional 12,951 shares during the period. River & Mercantile Asset Management LLP’s holdings in Legg Mason were worth $3,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. United Services Automobile Association boosted its holdings in shares of Legg Mason by 10.0% in the 3rd quarter. United Services Automobile Association now owns 19,429 shares of the asset manager’s stock valued at $607,000 after buying an additional 1,760 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Legg Mason by 25.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 8,815 shares of the asset manager’s stock valued at $275,000 after buying an additional 1,785 shares in the last quarter. Strategy Asset Managers LLC boosted its holdings in shares of Legg Mason by 0.7% in the 3rd quarter. Strategy Asset Managers LLC now owns 277,278 shares of the asset manager’s stock valued at $8,659,000 after buying an additional 1,791 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Legg Mason by 1.3% in the 3rd quarter. Swiss National Bank now owns 149,047 shares of the asset manager’s stock valued at $4,655,000 after buying an additional 1,900 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of Legg Mason by 3.7% in the 2nd quarter. Arizona State Retirement System now owns 59,333 shares of the asset manager’s stock valued at $2,061,000 after buying an additional 2,097 shares in the last quarter. Institutional investors own 84.45% of the company’s stock.

In related news, insider Frances Cashman sold 10,058 shares of the stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $31.61, for a total value of $317,933.38. Following the completion of the transaction, the insider now directly owns 72,937 shares of the company’s stock, valued at approximately $2,305,538.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.33% of the company’s stock.

Shares of Legg Mason stock opened at $27.06 on Friday. The company has a market capitalization of $2.34 billion, a P/E ratio of 7.27, a P/E/G ratio of 0.49 and a beta of 1.73. The company has a quick ratio of 1.27, a current ratio of 1.77 and a debt-to-equity ratio of 0.50. Legg Mason Inc has a 52 week low of $26.10 and a 52 week high of $47.13.

Legg Mason (NYSE:LM) last announced its quarterly earnings data on Wednesday, October 24th. The asset manager reported $0.82 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.01). The company had revenue of $758.43 million during the quarter, compared to analysts’ expectations of $755.29 million. Legg Mason had a net margin of 11.81% and a return on equity of 8.03%. Analysts expect that Legg Mason Inc will post 3.2 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 14th. Investors of record on Wednesday, December 19th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 5.03%. The ex-dividend date is Tuesday, December 18th. Legg Mason’s payout ratio is currently 36.56%.

LM has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods restated a “buy” rating and issued a $33.00 price target on shares of Legg Mason in a report on Monday, October 29th. Wells Fargo & Co lowered their price target on shares of Legg Mason from $39.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Morgan Stanley raised their price target on shares of Legg Mason from $31.00 to $32.00 and gave the company a “sell” rating in a report on Tuesday, October 9th. Royal Bank of Canada restated a “buy” rating and issued a $37.00 price target on shares of Legg Mason in a report on Thursday, October 25th. Finally, Deutsche Bank lowered their price target on shares of Legg Mason from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, November 16th. Four 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 company currently has a consensus rating of “Hold” and a consensus target price of $39.27.

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Legg Mason Company Profile

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.

Read More: Price to Earnings Ratio (PE)

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

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