February 05, 2013 at 10:57 AM EST
BMO Capital Downgrades Legg Mason to “Underperform” (LM)

Investment management firm Legg Mason, Inc. (LM) was downgraded at BMO Capital on Tuesday, as the analysts say the company is not in a position to perform well with equities markets continuing to improve.

The analysts downgraded LM from “Market Perform” to “Underperform” and see shares reaching $26. This target suggests a slight downside to Monday’s closing price of $26.53.

Legg Mason shares were mostly flat during morning trading on Tuesday. The stock is down -3% over the trailing twelve months.

The Bottom Line
Shares of Legg Mason have a dividend yield of 1.66% based on Thursday’s intraday trading price of $26.52 and the company’s annualized dividend payout of 44 cents per share.

Legg Mason, Inc. (LM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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