Pax World Management buys $15,864,217 stake in Legg Mason Inc (LM)

Legg Mason Inc (LM) : Pax World Management scooped up 64,688 additional shares in Legg Mason Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 467,833 shares of Legg Mason Inc which is valued at $15,864,217.Legg Mason Inc makes up approximately 0.89% of Pax World Management’s portfolio.

Other Hedge Funds, Including , Twin Capital Management Inc reduced its stake in LM by selling 41,760 shares or 49.4% in the most recent quarter. The Hedge Fund company now holds 42,770 shares of LM which is valued at $1,450,331. Legg Mason Inc makes up approx 0.10% of Twin Capital Management Inc’s portfolio. Evercore Wealth Management added LM to its portfolio by purchasing 282 company shares during the most recent quarter which is valued at $9,560.Fisher Asset Management boosted its stake in LM in the latest quarter, The investment management firm added 53,100 additional shares and now holds a total of 147,199 shares of Legg Mason Inc which is valued at $4,632,353. Legg Mason Inc makes up approx 0.01% of Fisher Asset Management’s portfolio.

Legg Mason Inc opened for trading at $33.81 and hit $34.29 on the upside on Monday, eventually ending the session at $34.16, with a gain of 1.33% or 0.45 points. The heightened volatility saw the trading volume jump to 8,00,243 shares. Company has a market cap of $3,540 M.

On the company’s financial health, Legg Mason Inc reported $0.68 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.73. The company had revenue of $700.20 million for the quarter, compared to analysts expectations of $683.62 million. The company’s revenue was down -1.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.14 EPS.

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.

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