Clarkston Capital Partners LLC Upped Stake in Legg Mason INC (LM) by $14.04 Million

November 10, 2018 - By Adrian Erickson

Legg Mason, Inc. (NYSE:LM) LogoInvestors sentiment decreased to 1.12 in 2018 Q2. Its down 0.08, from 1.2 in 2018Q1. It dropped, as 26 investors sold LM shares while 108 reduced holdings. 55 funds opened positions while 95 raised stakes. 70.88 million shares or 3.22% less from 73.24 million shares in 2018Q1 were reported. Dumont And Blake Investment Advisors Limited reported 6,140 shares or 0.09% of all its holdings. Retirement Of Alabama holds 0.04% or 223,315 shares in its portfolio. Synovus Fincl Corp holds 0% or 634 shares. Moreover, Peak6 Ltd Partnership has 0% invested in Legg Mason, Inc. (NYSE:LM) for 7,218 shares. Boston Prns holds 0% of its portfolio in Legg Mason, Inc. (NYSE:LM) for 104,000 shares. New Mexico Educational Retirement Board reported 0.03% stake. 108,754 were accumulated by Wms Prtnrs Lc. Alps Advisors Inc owns 11,684 shares or 0% of their US portfolio. Art Advsr Limited Liability owns 45,000 shares or 0.06% of their US portfolio. Robeco Institutional Asset Mngmt Bv has 0.04% invested in Legg Mason, Inc. (NYSE:LM). Signaturefd Lc stated it has 1,069 shares. Ironwood Invest Counsel Llc invested in 25,663 shares or 0.39% of the stock. Voloridge Inv Mngmt Ltd Limited Liability Company accumulated 8,823 shares. Ubs Asset Mgmt Americas Incorporated holds 0% or 109,405 shares in its portfolio. Shelton Capital Management owns 6,044 shares or 0.01% of their US portfolio.

Since May 15, 2018, it had 0 insider buys, and 3 selling transactions for $1.35 million activity. $98,436 worth of Legg Mason, Inc. (NYSE:LM) shares were sold by Merchant Thomas C. SULLIVAN JOSEPH A had sold 31,336 shares worth $1.22 million.

Clarkston Capital Partners Llc increased its stake in Legg Mason Inc (LM) by 12.5% based on its latest 2018Q2 regulatory filing with the SEC. Clarkston Capital Partners Llc bought 412,813 shares as the company’s stock declined 15.36% while stock markets rallied. The institutional investor held 3.72M shares of the finance company at the end of 2018Q2, valued at $129.03M, up from 3.30M at the end of the previous reported quarter. Clarkston Capital Partners Llc who had been investing in Legg Mason Inc for a number of months, seems to be bullish on the $2.47 billion market cap company. The stock decreased 1.23% or $0.36 during the last trading session, reaching $28.93. About 554,063 shares traded. Legg Mason, Inc. (NYSE:LM) has declined 21.52% since November 10, 2017 and is downtrending. It has underperformed by 37.14% the S&P500.

Clarkston Capital Partners Llc, which manages about $457.76 million and $2.61B US Long portfolio, decreased its stake in Lpl Finl Hldgs Inc (NASDAQ:LPLA) by 278,531 shares to 1.49M shares, valued at $97.66M in 2018Q2, according to the filing. It also reduced its holding in Hillenbrand Inc (NYSE:HI) by 544,180 shares in the quarter, leaving it with 1.58 million shares, and cut its stake in Wiley John & Sons Inc (NYSE:JW.A).

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

Among 3 analysts covering Legg Mason (NYSE:LM), 2 have Buy rating, 1 Sell and 0 Hold. Therefore 67% are positive. Legg Mason has $43 highest and $31 lowest target. $37.67’s average target is 30.21% above currents $28.93 stock price. Legg Mason had 5 analyst reports since July 12, 2018 according to SRatingsIntel. On Thursday, August 2 the stock rating was maintained by Morgan Stanley with “Underweight”. The firm has “Buy” rating given on Thursday, October 11 by Deutsche Bank. The firm has “Outperform” rating given on Friday, July 13 by Wells Fargo. The firm has “Underweight” rating by Morgan Stanley given on Tuesday, October 9. Morgan Stanley maintained the shares of LM in report on Thursday, July 12 with “Underweight” rating.

Legg Mason, Inc. (NYSE:LM) Institutional Positions Chart

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