Legg Mason, Inc. (NYSE:LM) Given a $47.00 Price Target at Royal Bank Of Canada

Royal Bank Of Canada set a $47.00 price objective on Legg Mason, Inc. (NYSE:LM) in a research report sent to investors on Wednesday, October 18th. The firm currently has a buy rating on the asset manager’s stock.

LM has been the subject of several other reports. Keefe, Bruyette & Woods reiterated a buy rating and set a $47.00 price objective on shares of Legg Mason in a research report on Friday, September 29th. Barclays PLC assumed coverage on Legg Mason in a research report on Friday, September 8th. They issued an equal weight rating and a $39.00 target price for the company. BidaskClub upgraded Legg Mason from a hold rating to a buy rating in a research report on Wednesday, July 12th. Jefferies Group LLC restated a buy rating and issued a $49.00 target price on shares of Legg Mason in a research report on Sunday, August 20th. Finally, Credit Suisse Group restated a buy rating and issued a $47.00 target price on shares of Legg Mason in a research report on Sunday, July 9th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $43.11.

Shares of Legg Mason (NYSE LM) traded up 0.83% during trading on Wednesday, hitting $39.02. The stock had a trading volume of 667,457 shares. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 16.22 and a beta of 2.22. The company’s 50 day moving average price is $38.26 and its 200 day moving average price is $38.27. Legg Mason has a 12 month low of $28.10 and a 12 month high of $42.08.

Legg Mason (NYSE:LM) last posted its earnings results on Wednesday, October 25th. The asset manager reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.10. The company had revenue of $768.30 million during the quarter, compared to analyst estimates of $739.47 million. Legg Mason had a return on equity of 7.15% and a net margin of 8.46%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 earnings per share. Equities research analysts expect that Legg Mason will post $2.26 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Neuberger Berman Group LLC boosted its holdings in Legg Mason by 0.7% in the second quarter. Neuberger Berman Group LLC now owns 6,857 shares of the asset manager’s stock worth $262,000 after purchasing an additional 47 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Legg Mason by 2.7% in the second quarter. Oppenheimer & Co. Inc. now owns 6,904 shares of the asset manager’s stock worth $263,000 after purchasing an additional 183 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Legg Mason by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,193 shares of the asset manager’s stock worth $122,000 after purchasing an additional 294 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in Legg Mason by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 22,300 shares of the asset manager’s stock worth $851,000 after purchasing an additional 400 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its holdings in Legg Mason by 3.0% in the second quarter. Raymond James Trust N.A. now owns 14,168 shares of the asset manager’s stock worth $541,000 after purchasing an additional 416 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Legg Mason (NYSE:LM)

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