Legg Mason, Inc. (LM) Stock Is An 52-Week High Flier

January 23, 2018 - By Michael Collier

Investors sentiment decreased to 1.01 in 2017 Q3. Its down 0.01, from 1.02 in 2017Q2. It dived, as 34 investors sold Legg Mason, Inc. shares while 91 reduced holdings. 34 funds opened positions while 92 raised stakes. 74.95 million shares or 1.72% less from 76.26 million shares in 2017Q2 were reported.
State Street Corporation owns 2.51M shares. Credit Agricole S A holds 0% or 4,119 shares in its portfolio. California-based Tarbox Family Office has invested 0% in Legg Mason, Inc. (NYSE:LM). Dimensional Fund Limited Partnership holds 3.33M shares or 0.06% of its portfolio. Tcw holds 0.01% or 19,143 shares in its portfolio. Ameriprise Fin Inc stated it has 0.01% of its portfolio in Legg Mason, Inc. (NYSE:LM). The New York-based Morgan Stanley has invested 0.01% in Legg Mason, Inc. (NYSE:LM). North Star Asset Management Inc invested in 6,478 shares. Gargoyle Inv Advisor Ltd Liability Co holds 1.18% in Legg Mason, Inc. (NYSE:LM) or 81,826 shares. Jefferies Grp Lc stated it has 23,032 shares or 0.01% of all its holdings. 991 are owned by Manchester Cap Mgmt Lc. Cacti Asset Management Ltd invested in 0.03% or 10,400 shares. Public Employees Retirement Sys Of Ohio reported 54,647 shares. Cadence Mngmt Ltd Llc reported 0.04% of its portfolio in Legg Mason, Inc. (NYSE:LM). Prudential Financial owns 67,823 shares for 0% of their portfolio.

The stock of Legg Mason, Inc. (NYSE:LM) hit a new 52-week high and has $46.73 target or 3.00 % above today’s $45.37 share price. The 5 months bullish chart indicates low risk for the $3.92 billion company. The 1-year high was reported on Jan, 23 by Barchart.com. If the $46.73 price target is reached, the company will be worth $117.57 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.98% or $0.44 during the last trading session, reaching $45.37. About 465,503 shares traded. Legg Mason, Inc. (NYSE:LM) has risen 21.07% since January 23, 2017 and is uptrending. It has outperformed by 4.37% the S&P500.

Analysts await Legg Mason, Inc. (NYSE:LM) to report earnings on February, 7. They expect $0.82 earnings per share, up 64.00 % or $0.32 from last year’s $0.5 per share. LM’s profit will be $70.83 million for 13.83 P/E if the $0.82 EPS becomes a reality. After $0.79 actual earnings per share reported by Legg Mason, Inc. for the previous quarter, Wall Street now forecasts 3.80 % EPS growth.

Legg Mason, Inc. (NYSE:LM) Ratings Coverage

Among 14 analysts covering Legg Mason Inc. (NYSE:LM), 7 have Buy rating, 2 Sell and 5 Hold. Therefore 50% are positive. Legg Mason Inc. had 57 analyst reports since August 4, 2015 according to SRatingsIntel. The rating was maintained by Keefe Bruyette & Woods on Friday, June 30 with “Buy”. As per Thursday, June 8, the company rating was maintained by Jefferies. The firm has “Neutral” rating given on Friday, August 11 by Citigroup. The stock has “Buy” rating by Citigroup on Thursday, September 10. The firm earned “Overweight” rating on Thursday, August 13 by Barclays Capital. The rating was maintained by Keefe Bruyette & Woods on Thursday, September 28 with “Buy”. Jefferies downgraded the shares of LM in report on Wednesday, January 10 to “Hold” rating. Deutsche Bank initiated the shares of LM in report on Tuesday, October 17 with “Buy” rating. On Wednesday, August 26 the stock rating was upgraded by Danske Bank to “Sell”. Wood maintained Legg Mason, Inc. (NYSE:LM) on Friday, October 14 with “Outperform” rating.

More important recent Legg Mason, Inc. (NYSE:LM) news were published by: Zacks.com which released: “Is Legg Mason (LM) a Great Stock for Value Investors?” on January 02, 2018, also Businesswire.com published article titled: “Legg Mason BW Global Income Opportunities Fund Inc. Reaffirms Name Change”, Nasdaq.com published: “Legg Mason (LM) Records Outflow in December Yet AUM Rises” on January 12, 2018. More interesting news about Legg Mason, Inc. (NYSE:LM) was released by: Nasdaq.com and their article: “Can Performance Fees Boost Legg Mason’s (LM) Q3 Earnings?” with publication date: January 23, 2018.

Legg Mason, Inc. is a publicly owned asset management holding company. The company has market cap of $3.92 billion. 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. It has a 17.88 P/E ratio. It launches and manages equity, fixed income, and multi-asset customized portfolios through its subsidiaries.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our daily email newsletter.

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our FREE daily email newsletter: