Sii Investments Inc. WI Increases Stake in Legg Mason, Inc. (LM)

Sii Investments Inc. WI boosted its stake in shares of Legg Mason, Inc. (NYSE:LM) by 29.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,283 shares of the asset manager’s stock after buying an additional 2,990 shares during the period. Sii Investments Inc. WI’s holdings in Legg Mason were worth $477,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. A.R.T. Advisors LLC purchased a new stake in Legg Mason during the fourth quarter valued at approximately $3,287,000. Zurich Insurance Group Ltd FI purchased a new stake in Legg Mason during the fourth quarter valued at approximately $781,000. Credit Agricole S A raised its stake in Legg Mason by 49.2% in the fourth quarter. Credit Agricole S A now owns 4,928 shares of the asset manager’s stock valued at $147,000 after buying an additional 1,626 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in Legg Mason by 4.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 41,147 shares of the asset manager’s stock valued at $1,226,000 after buying an additional 1,793 shares during the last quarter. Finally, Elkfork Partners LLC purchased a new stake in Legg Mason during the fourth quarter valued at approximately $711,000. 79.74% of the stock is owned by institutional investors and hedge funds.

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

Shares of Legg Mason, Inc. (LM) traded up 0.99% during trading on Friday, hitting $39.74. 1,111,665 shares of the company traded hands. The company has a 50-day moving average of $37.78 and a 200-day moving average of $35.15. The stock has a market capitalization of $3.81 billion, a PE ratio of 18.23 and a beta of 2.17. Legg Mason, Inc. has a 52-week low of $27.54 and a 52-week high of $39.85.

Legg Mason (NYSE:LM) last announced its quarterly earnings data on Wednesday, April 26th. The asset manager reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.29. The business had revenue of $723.13 million for the quarter, compared to analysts’ expectations of $701.50 million. Legg Mason had a net margin of 7.87% and a return on equity of 6.71%. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.15) earnings per share. Equities analysts expect that Legg Mason, Inc. will post $2.26 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 10th. Investors of record on Tuesday, June 13th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.82%. This is a boost from Legg Mason’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, June 9th. Legg Mason’s dividend payout ratio (DPR) is 50.91%.

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Several research firms have commented on LM. Zacks Investment Research lowered shares of Legg Mason from a “hold” rating to a “sell” rating in a research report on Tuesday. BidaskClub raised shares of Legg Mason from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. ValuEngine raised shares of Legg Mason from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Jefferies Group LLC increased their price target on shares of Legg Mason from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Finally, Evercore ISI lowered shares of Legg Mason from a “hold” rating to an “underperform” rating and set a $36.00 price objective for the company. in a research report on Friday, March 3rd. Three research analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. Legg Mason currently has an average rating of “Hold” and an average price target of $39.29.

In related news, insider Terence Johnson sold 8,777 shares of Legg Mason stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $37.24, for a total value of $326,855.48. Following the transaction, the insider now directly owns 100,415 shares of the company’s stock, valued at $3,739,454.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ursula Schliessler sold 1,745 shares of Legg Mason stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $37.39, for a total transaction of $65,245.55. Following the completion of the transaction, the chief accounting officer now directly owns 14,445 shares in the company, valued at $540,098.55. The disclosure for this sale can be found here. Insiders sold 23,847 shares of company stock worth $856,877 over the last three months. 1.94% of the stock is currently owned by insiders.

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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