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NEW YORK ( TheStreet) -- Legg Mason (NYSE: LM) hit a new 52-week low Tuesday as it is currently trading at $23.46, below its previous 52-week low of $23.66 with one million shares traded as of 10:40 a.m. ET. Average volume has been 2.8 million shares over the past 30 days. Legg Mason has a market cap of $3.8 billion and is part of the financial sector and financial services industry. Shares are down 34.8% year to date as of the close of trading on Monday. Legg Mason, Inc., through its subsidiaries, operates as an asset management company worldwide. The company provides investment management and related services to institutional and individual clients; company-sponsored mutual funds; and other pooled investment vehicles. The company has a P/E ratio of 14.9, equal to the average financial services industry P/E ratio and below the S&P 500 P/E ratio of 17.7.