Citigroup Maintains Legg Mason Inc to Buy with Price Target $50.00

Brokerage firm Citigroup Maintains its rating on Legg Mason Inc(NYSE:LM). In a research note issued to the investors, the brokerage major Raises the price-target to $50.00 per share. The shares have been rated Buy. The rating by Citigroup was issued on Jul 28, 2016.

In a different note, On Jul 11, 2016, Jefferies said it Maintains its rating on Legg Mason Inc. In the research note, the firm Lowers the price-target to $39.00 per share. The shares have been rated ‘Buy’ by the firm.

Legg Mason Inc (LM) shares turned negative on Thursdays trading session with the shares closing down -0.62 points or -1.83% at a volume of 11,21,573. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $33.75. The peak price level was also seen at $33.75 while the days lowest was $32.96. Finally the shares closed at $33.28. The 52-week high of the shares is $52.57 while the 52-week low is $24.93. According to the latest information available, the market cap of the company is $3,508 M.

Legg Mason Inc(LM) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2017 and Q1.Company reported revenue of $700.16M. Analysts had an estimated revenue of $676.71M. Earnings per share were $0.31. Analysts had estimated an EPS of $0.26.

Several Insider Transactions has been reported to the SEC. On Jun 7, 2016, Carol Anthony Davidson (director) purchased 3,000 shares at $33.92 per share price.Also, On May 3, 2016, Ursula Schliessler (EVP & CAO) sold 1,659 shares at $31.73 per share price.On May 3, 2016, Terence Johnson (Executive Vice President) sold 9,519 shares at $31.65 per share price, according to the Form-4 filing with the securities and exchange commission.

Legg Mason Inc. is a holding company. Through its subsidiaries the Company provides investment management and related services to institutional and individual clients company-sponsored investment funds and retail separately managed account programs. The Company offers its products and services directly and through various financial intermediaries. Its investment advisory services include discretionary and non-discretionary management of separate investment accounts in numerous investment styles for institutional and individual investors. Its investment products include proprietary mutual funds ranging from money market and other liquidity products to fixed income equity and alternative funds managed in a wide variety of investment styles. The Company also offers other domestic and offshore funds to both retail and institutional investors and funds-of-hedge funds. The Company’s United States mutual funds consist of two groups of mutual and closed-end funds.

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