Legg Mason Gets a Buy Rating from KBW

By Austin Angelo

KBW analyst Robert Lee reiterated a Buy rating on Legg Mason (NYSE: LM) yesterday and set a price target of $43. The company’s shares closed last Friday at $37.30, close to its 52-week high of $38.99.

According to TipRanks.com, Lee is a 5-star analyst with an average return of 7.8% and a 70.1% success rate. Lee covers the Financial sector, focusing on stocks such as Apollo Global Management LLC, Oaktree Capital Group Llc, and SEI Investments Company.

Legg Mason has an analyst consensus of Strong Buy, with a price target consensus of $42.33.

Legg Mason’s market cap is currently $3.66B and has a P/E ratio of 16.95. The company has a book value ratio of 0.9198.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Ursula Schliessler, the EVP & CAO of LM sold 1,745 shares for a total of $65,246.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Legg Mason, Inc. is a global asset management company, which provides investment management and related services to institutional and individual clients, company sponsored mutual funds and other pooled investment vehicles through financial intermediaries. The company’s investment products include proprietary mutual funds ranging from money market and other liquidity products to fixed income and equity funds, other domestic and offshore funds offered to both retail and institutional investors and funds-of-hedge funds. It conducts business through asset managers which provide separate account investment management services to institutional clients, including pension and other retirement plans, corporations, insurance companies, endowments and foundations and governments, and to high net worth individuals and families and also sponsor and manage various groups of mutual funds. Legg Mason was founded in 1981 and is headquartered in Baltimore, MD.