Junto Capital Management Lp Lowers stake in Legg Mason Inc (LM)

Legg Mason Inc (LM) : Junto Capital Management Lp reduced its stake in Legg Mason Inc by 22.84% during the most recent quarter end. The investment management company now holds a total of 1,140,514 shares of Legg Mason Inc which is valued at $35,983,217 after selling 337,548 shares in Legg Mason Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Legg Mason Inc makes up approximately 4.74% of Junto Capital Management Lp’s portfolio.

Other Hedge Funds, Including , First Allied Advisory Services reduced its stake in LM by selling 3,641 shares or 29.18% in the most recent quarter. The Hedge Fund company now holds 8,835 shares of LM which is valued at $278,744. Legg Mason Inc makes up approx 0.02% of First Allied Advisory Services’s portfolio.Alpine Woods Capital Investors boosted its stake in LM in the latest quarter, The investment management firm added 1,000 additional shares and now holds a total of 36,000 shares of Legg Mason Inc which is valued at $1,084,320. Legg Mason Inc makes up approx 0.06% of Alpine Woods Capital Investors’s portfolio. Oppenheimer Co Inc sold out all of its stake in LM during the most recent quarter. The investment firm sold 13,928 shares of LM which is valued $407,394. Plante Moran Financial Advisors added LM to its portfolio by purchasing 417 company shares during the most recent quarter which is valued at $11,822. Legg Mason Inc makes up approx 0.01% of Plante Moran Financial Advisors’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in LM by selling 1,254 shares or 5.67% in the most recent quarter. The Hedge Fund company now holds 20,852 shares of LM which is valued at $596,367. Legg Mason Inc makes up approx 0.01% of Public Employees Retirement Association Of Colorado’s portfolio.

Legg Mason Inc (LM) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $31.95 and reached the intraday high at $32.1. The bulls started the profit booking and pushed the shares to intraday low of $31.742. The trading session was marked by a volume range of 16,07,477 shares exchanging hands. The 52-week high of the shares is $45.36 and the 52-week low is $24.93. The market cap of the company stands at $3,227 M and there are 10,10,06,739 shares in public circulation.

On the company’s financial health, Legg Mason Inc reported $0.63 EPS for the quarter, missing the analyst consensus estimate by $ -0.51 based on the information available during the earnings call on Oct 28, 2016. Analyst had a consensus of $1.14. The company had revenue of $748.40 million for the quarter, compared to analysts expectations of $746.87 million. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS.

Investors should note that on Oct 28, 2016, Legg Mason Inc announced a cash dividend of $0.2200. The company’s management has announced Dec 12, 2016 as the ex-dividend date and fixed the record date on Dec 14, 2016. The payable date has been fixed on Jan 9, 2017.

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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