Legg Mason, Inc. (NYSE:LM):
Legg Mason Reports Assets Under Management and Flows For May 2017.
In the market the company is trading unchanged by 0.00% since yesterday’s close of $38.83.
Additionally the company recently announced a dividend for shareholders that will be paid on Mon Jul 10, 2017. The dividend payment will be $0.235 per share for the quarter which comes to $0.94 on an annualized basis. This dividend represents a yield of $2.42. The ex-dividend date will be Friday June 9th, 2017.
Legg Mason, Inc., launched on January 13, 1981, 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. 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 Company offers its products and services directly and through various financial intermediaries. The Company has operations 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..
Shares are trading at $38.83 slightly over the 50 day moving average which is $37.63 and a tad higher than the 200 day moving average of $34.97. The 50 day moving average moved up $1.20 and the 200 day average was up $3.86.
The most current P/E ratio is 17.81 and market capitalization is 3.72B. As of the latest earnings report the EPS was $2.18 and is projected to be $2.26 for the current year with 95,860,000 shares currently outstanding. Next quarter’s EPS is forecasted to be $0.71 with next year’s EPS projected to be $3.21.
Several investment analysts have weighed in on the stock. On October 14 Keefe Bruyette & Woods held the stock rating at “Outperform” but lowered the price expectation from $56.00 to $44.00. October 11 investment analysts at Jefferies held the company rating at “Buy” and lowered the price expectation to $33.00 from $36.00.
July 28 investment analysts at Morgan Stanley kept the company rating at “Buy” and raised the price target to $50.00 from $37.00. On July 28 Citigroup maintained a stock rating of “Buy” but raised the price target from $46.00 to $50.00.
July 11 investment analysts at Jefferies maintained a company rating of “Buy” but moved down the price target to $36.00 from $42.00. On April 15 Citigroup made no change to the company rating of “Buy” and moved up the price target to $46.00 from $43.00.