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.
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