Is Legg Mason, Inc. (LM)’s Fuel Running Low? The Stock Reaches 52-Week High Today

January 21, 2018 - By Winifred Garcia

Investors sentiment decreased to 1.01 in 2017 Q3. Its down 0.01, from 1.02 in 2017Q2. It turned negative, 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.
Balyasny Asset Management Limited invested 0% in Legg Mason, Inc. (NYSE:LM). 16,179 were reported by Amalgamated National Bank. Axa holds 0.04% of its portfolio in Legg Mason, Inc. (NYSE:LM) for 253,400 shares. Paloma Partners Mngmt has invested 0.01% in Legg Mason, Inc. (NYSE:LM). Tarbox Family Office has invested 0% in Legg Mason, Inc. (NYSE:LM). Manchester Capital Ltd Liability Co holds 0.01% in Legg Mason, Inc. (NYSE:LM) or 991 shares. Brown Advisory Inc invested in 9,389 shares. Park Circle has 573,000 shares for 12.92% of their portfolio. South Dakota Inv Council accumulated 170,406 shares. First Personal Financial has 0.01% invested in Legg Mason, Inc. (NYSE:LM) for 879 shares. Moors Cabot invested 0.08% in Legg Mason, Inc. (NYSE:LM). Hsbc Public Limited owns 0% invested in Legg Mason, Inc. (NYSE:LM) for 17,591 shares. Great West Life Assurance Can invested 0.01% in Legg Mason, Inc. (NYSE:LM). Vanguard Gru stated it has 0.01% of its portfolio in Legg Mason, Inc. (NYSE:LM). Moreover, River Mercantile Asset Management Limited Liability Partnership has 0.46% invested in Legg Mason, Inc. (NYSE:LM).

The stock of Legg Mason, Inc. (NYSE:LM) hit a new 52-week high and has $47.83 target or 7.00 % above today’s $44.70 share price. The 7 months bullish chart indicates low risk for the $3.86B company. The 1-year high was reported on Jan, 21 by Barchart.com. If the $47.83 price target is reached, the company will be worth $270.27 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 1.68% or $0.74 during the last trading session, reaching $44.7. About 640,430 shares traded. Legg Mason, Inc. (NYSE:LM) has risen 21.07% since January 21, 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 13.63 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. has $67 highest and $2 lowest target. $46.50’s average target is 4.03% above currents $44.7 stock price. Legg Mason Inc. had 57 analyst reports since August 4, 2015 according to SRatingsIntel. On Thursday, September 10 the stock rating was maintained by Citigroup with “Buy”. The stock of Legg Mason, Inc. (NYSE:LM) earned “Buy” rating by Citigroup on Friday, April 15. The firm has “Buy” rating given on Monday, July 11 by Jefferies. RBC Capital Markets maintained the stock with “Buy” rating in Thursday, July 27 report. Susquehanna upgraded the stock to “Neutral” rating in Tuesday, November 3 report. The firm has “Buy” rating given on Sunday, August 27 by Keefe Bruyette & Woods. The firm has “Buy” rating by Jefferies given on Wednesday, October 25. The stock of Legg Mason, Inc. (NYSE:LM) earned “Overweight” rating by Piper Jaffray on Monday, November 2. The firm has “Buy” rating given on Tuesday, October 10 by Jefferies. The firm earned “Buy” rating on Thursday, June 8 by Jefferies.

More important recent Legg Mason, Inc. (NYSE:LM) news were published by: Prnewswire.com which released: “Legg Mason Announces Repurchase Agreement with Shanda Asset Management” on December 22, 2017, also Businesswire.com published article titled: “Legg Mason BW Global Income Opportunities Fund Inc. Reaffirms Name Change”, Nasdaq.com published: “Zacks.com highlights: Caterpillar, Crocs, Pioneer Natural Resources, Legg …” on January 19, 2018. More interesting news about Legg Mason, Inc. (NYSE:LM) was released by: Nasdaq.com and their article: “Legg Mason (LM) Records Outflow in December Yet AUM Rises” with publication date: January 12, 2018.

Legg Mason, Inc. is a publicly owned asset management holding company. The company has market cap of $3.86 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 17.62 P/E ratio. It launches and manages equity, fixed income, and multi-asset customized portfolios through its subsidiaries.

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