Legg Mason Inc (LM) : Three Corner Global Investors Lp scooped up 366,900 additional shares in Legg Mason Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 432,500 shares of Legg Mason Inc which is valued at $13.3 Million.Legg Mason Inc makes up approximately 5.25% of Three Corner Global Investors Lp’s portfolio.
Other Hedge Funds, Including , Ontario Teachers Pension Plan Board reduced its stake in LM by selling 6,812 shares or 9.23% in the most recent quarter. The Hedge Fund company now holds 67,007 shares of LM which is valued at $2.1 Million. Legg Mason Inc makes up approx 0.02% of Ontario Teachers Pension Plan Board’s portfolio. Optimum Investment Advisors sold out all of its stake in LM during the most recent quarter. The investment firm sold 6,225 shares of LM which is valued $190,734.Diligent Investors boosted its stake in LM in the latest quarter, The investment management firm added 1,600 additional shares and now holds a total of 7,719 shares of Legg Mason Inc which is valued at $236,510. Legg Mason Inc makes up approx 0.26% of Diligent Investors’s portfolio.Tiaa Cref Investment Management boosted its stake in LM in the latest quarter, The investment management firm added 56,495 additional shares and now holds a total of 739,648 shares of Legg Mason Inc which is valued at $23 Million. Legg Mason Inc makes up approx 0.02% of Tiaa Cref Investment Management’s portfolio.Ifp Advisors Inc reduced its stake in LM by selling 1 shares or 1.19% in the most recent quarter. The Hedge Fund company now holds 83 shares of LM which is valued at $2,584.
Legg Mason Inc opened for trading at $33.24 and hit $34.2 on the upside on Wednesday, eventually ending the session at $33.95, with a gain of 2.54% or 0.84 points. The heightened volatility saw the trading volume jump to 14,77,592 shares. Company has a market cap of $3,578 M.
On the company’s financial health, Legg Mason Inc reported $-0.15 EPS for the quarter, missing the analyst consensus estimate by $ -0.85 based on the information available during the earnings call on Apr 29, 2016. Analyst had a consensus of $0.70. The company had revenue of $619.50 million for the quarter, compared to analysts expectations of $635.03 million. The company’s revenue was down -11.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.03 EPS.
Investors should note that on Apr 29, 2016, Legg Mason Inc announced a cash dividend of $0.2200. The company’s management has announced Jun 9, 2016 as the ex-dividend date and fixed the record date on Jun 13, 2016. The payable date has been fixed on Jul 5, 2016.
Many Wall Street Analysts have commented on Legg Mason Inc. Shares were Reiterated by RBC Capital Mkts on May 2, 2016 to “Sector Perform” and Lowered the Price Target to $ 35 from a previous price target of $41 .Shares were Reiterated by RBC Capital Mkts on Apr 25, 2016 to “Sector Perform” and Lowered the Price Target to $ 41 from a previous price target of $49 .Legg Mason Inc was Upgraded by Credit Suisse to ” Outperform” on Mar 16, 2016.
Legg Mason Inc. is a holding company. Through its subsidiaries the Company 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. Its investment advisory services include discretionary and non-discretionary management of separate investment accounts in numerous investment styles for institutional and individual investors. Its investment products include proprietary mutual funds ranging from money market and other liquidity products to fixed income equity and alternative funds managed in a wide variety of investment styles. The Company also offers other domestic and offshore funds to both retail and institutional investors and funds-of-hedge funds. The Company’s United States mutual funds consist of two groups of mutual and closed-end funds.