Legg Mason Inc. Posts Disappointing Quarterly Stock Report (NYSE:LM)

Legg Mason Inc. shares closed at $30.08 yesterday up from Friday’s closing price of $29.09. The company shares have 52 week high of $38.36 and 52 week low of $27.15. The company has 50 day moving average of $30.11 and 200 day moving average of $29.64. The sustenance and resistance levels of Legg Mason Inc. are $29.30 and $30.52. The company’s market cap is at $684.02 million. Its P/E ratio is 22.83 and beta is 1.96. Legg Mason Inc.’s EPS is $1.32.

Subscribe to daily free stock newsletter by visiting:  http://www.pennystockpickreport.com/

Legg Mason Inc. has decrease in its first quarter profits. The company has also missed its earnings forecasts. It has reported its incomes at $47.9 million or 30 cents per share which is down from $50.1 million a year earlier. The company had posted 35 cents in income per share during the same time period. The market consensus was at 31 cents per share.

The company’s assets under management decreased from $684.5 billion last year to current $645.4 billion. Therefore there was the net outflow of $23.1 billion. Its fixed income outflow during the quarter is at $9.4 billion. Similarly, money-market funds outflow amounted to $14.4 billion. However, its stock mutual fund saw inflows of about $700 million. This is the first increase in the unit in more than 4 years. The company has .53% dividend yield.

Legg Mason Inc. is an asset management company. The company operates through its subsidiaries. It deals in investment management and related services. Legg Mason Inc. caters to individual as well as institutional investors. The company has two divisions viz. Americas and International. Its investment product portfolio includes mutual funds and such other producs. It also offers equity backed and fixed income funds. Legg Mason Inc.’s investment advisory business offers discretionary and non-discretionary management of different investment accounts. It also provides distribution services. The company also provides services such as accounting, technology, compliance, legal and marketing services. The company is based out of Baltimore and was founded in 1899.   

About http://www.pennystockpickreport.com/

Penny Stock Pick Report offers stock news on OTC, PINKSHEETS ,OTCBB, AMEX, NASDAQ and NYSE stock exchange. Our subscribers receive daily up to date stock information on hot stocks, most active movers, top gainers, penny stocks and much more. If you wish to feature your organization on our website then you can contact us at the email given below.