Legg Mason (NYSE:LM)‘s stock had its “hold” rating restated by analysts at Citigroup in a report issued on Tuesday. They presently have a $42.00 price target on the asset manager’s stock. Citigroup’s price objective points to a potential downside of 0.26% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on LM. Zacks Investment Research upgraded Legg Mason from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Wednesday, November 8th. Deutsche Bank began coverage on Legg Mason in a research note on Tuesday, October 17th. They set a “buy” rating and a $44.00 price objective on the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $47.00 price objective on shares of Legg Mason in a research note on Friday, September 29th. Royal Bank of Canada set a $47.00 price objective on Legg Mason and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Finally, Credit Suisse Group upped their price objective on Legg Mason from $48.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, October 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $43.90.
Legg Mason (NYSE:LM) traded up $0.22 during trading hours on Tuesday, reaching $42.11. The company’s stock had a trading volume of 419,200 shares, compared to its average volume of 1,061,181. Legg Mason has a 52-week low of $29.71 and a 52-week high of $42.41. The company has a current ratio of 2.51, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The firm has a market cap of $3,870.00, a P/E ratio of 16.45, a P/E/G ratio of 0.98 and a beta of 2.27.
A number of institutional investors and hedge funds have recently bought and sold shares of LM. Laurion Capital Management LP bought a new position in Legg Mason during the 2nd quarter worth $37,103,000. LSV Asset Management increased its position in Legg Mason by 55.7% during the 2nd quarter. LSV Asset Management now owns 2,183,004 shares of the asset manager’s stock worth $83,303,000 after buying an additional 780,708 shares during the period. UBS Oconnor LLC bought a new position in Legg Mason during the 2nd quarter worth $13,055,000. Cornerstone Capital Management Holdings LLC. increased its position in Legg Mason by 164.8% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 514,812 shares of the asset manager’s stock worth $20,236,000 after buying an additional 320,376 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in Legg Mason during the 2nd quarter worth $9,946,000. Institutional investors and hedge funds own 82.49% of the company’s stock.
About Legg Mason
Legg Mason, Inc is a holding company. The Company and its subsidiaries are principally engaged in providing asset management and related financial services to individuals, institutions, corporations and municipalities. The Company operates through Global Asset Management segment. Global Asset Management provides investment advisory services to institutional and individual clients and to the Company-sponsored investment funds.
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