22,280 Shares in Legg Mason, Inc. (LM) Acquired by Boston Common Asset Management LLC

Boston Common Asset Management LLC purchased a new stake in shares of Legg Mason, Inc. (NYSE:LM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,280 shares of the asset manager’s stock, valued at approximately $805,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of LM. BlackRock Inc. boosted its position in Legg Mason by 1,729.5% in the first quarter. BlackRock Inc. now owns 7,932,618 shares of the asset manager’s stock valued at $286,448,000 after buying an additional 7,499,031 shares during the last quarter. Vanguard Group Inc. boosted its position in Legg Mason by 1.6% in the first quarter. Vanguard Group Inc. now owns 7,225,011 shares of the asset manager’s stock valued at $260,895,000 after buying an additional 111,523 shares during the last quarter. FMR LLC boosted its position in Legg Mason by 21.9% in the fourth quarter. FMR LLC now owns 5,386,394 shares of the asset manager’s stock valued at $161,108,000 after buying an additional 966,605 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Legg Mason by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,281,797 shares of the asset manager’s stock valued at $118,506,000 after buying an additional 88,706 shares during the last quarter. Finally, LSV Asset Management boosted its position in Legg Mason by 5.4% in the first quarter. LSV Asset Management now owns 1,402,296 shares of the asset manager’s stock valued at $50,636,000 after buying an additional 72,470 shares during the last quarter. 79.66% of the stock is currently owned by institutional investors.

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

Legg Mason, Inc. (NYSE LM) traded down 1.84% during trading on Friday, hitting $39.45. 1,986,238 shares of the stock traded hands. Legg Mason, Inc. has a one year low of $27.54 and a one year high of $40.82. The company has a market capitalization of $3.78 billion, a P/E ratio of 18.10 and a beta of 2.17. The company’s 50 day moving average is $37.98 and its 200 day moving average is $35.39.

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

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 10th. Investors of record on Tuesday, June 13th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.84%. This is a positive change 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 presently 50.91%.

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Several equities analysts have weighed in on LM shares. Evercore ISI cut shares of Legg Mason from a “hold” rating to an “underperform” rating and set a $36.00 price objective on the stock. in a research report on Friday, March 3rd. Jefferies Group LLC lifted their price objective on shares of Legg Mason from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Zacks Investment Research cut shares of Legg Mason from a “hold” rating to a “sell” rating in a research report on Monday, March 20th. Credit Suisse Group reiterated a “buy” rating and set a $41.00 price objective on shares of Legg Mason in a research report on Friday, June 16th. Finally, BidaskClub upgraded shares of Legg Mason from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Three analysts have rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $39.50.

In related news, CAO Ursula Schliessler sold 1,745 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $37.39, for a total value of $65,245.55. Following the completion of the transaction, the chief accounting officer now owns 14,445 shares of the company’s stock, valued at $540,098.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Terence Johnson sold 8,777 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $37.24, for a total transaction of $326,855.48. Following the completion of the transaction, the insider now directly owns 100,415 shares of the company’s stock, valued at approximately $3,739,454.60. The disclosure for this sale can be found here. Company insiders own 12.70% of the company’s stock.

About Legg Mason

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “LM”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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