Citigroup Lowers Brightsphere Investment Group (BSIG) Price Target to $16.50

Brightsphere Investment Group (NYSE:BSIG) had its price objective trimmed by Citigroup from $17.50 to $16.50 in a report issued on Friday. The firm currently has a buy rating on the stock.

BSIG has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Brightsphere Investment Group from a strong sell rating to a hold rating in a research report on Tuesday, September 11th. Morgan Stanley decreased their target price on shares of Brightsphere Investment Group from $17.00 to $16.00 and set an equal weight rating on the stock in a research report on Thursday, July 12th. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and set a $19.00 price target on shares of Brightsphere Investment Group in a report on Friday, July 13th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Brightsphere Investment Group currently has a consensus rating of Buy and a consensus target price of $18.64.

Shares of NYSE:BSIG opened at $12.76 on Friday. Brightsphere Investment Group has a 12-month low of $11.15 and a 12-month high of $18.62. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.20.

Brightsphere Investment Group (NYSE:BSIG) last announced its earnings results on Thursday, November 1st. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. Brightsphere Investment Group had a net margin of 6.71% and a return on equity of 135.80%. The firm had revenue of $230.10 million for the quarter, compared to analyst estimates of $227.95 million. During the same quarter in the prior year, the business posted $0.43 EPS. The business’s revenue was up 3.1% compared to the same quarter last year. Research analysts expect that Brightsphere Investment Group will post 1.86 earnings per share for the current year.

Several institutional investors have recently modified their holdings of BSIG. Howe & Rusling Inc. bought a new stake in shares of Brightsphere Investment Group during the 2nd quarter worth approximately $102,000. Point72 Hong Kong Ltd lifted its stake in Brightsphere Investment Group by 10,714.7% in the 2nd quarter. Point72 Hong Kong Ltd now owns 7,354 shares of the company’s stock valued at $105,000 after purchasing an additional 7,286 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Brightsphere Investment Group in the 3rd quarter valued at approximately $112,000. Jane Street Group LLC bought a new position in Brightsphere Investment Group in the 2nd quarter valued at approximately $211,000. Finally, SG Americas Securities LLC lifted its stake in Brightsphere Investment Group by 131.1% in the 2nd quarter. SG Americas Securities LLC now owns 15,694 shares of the company’s stock valued at $224,000 after purchasing an additional 8,903 shares during the last quarter. 1.34% of the stock is owned by institutional investors.

Brightsphere Investment Group Company Profile

BrightSphere Investment Group plc is a publically owned asset management holding company. The firm provides its services to individuals and institutions. It manages separate client focused portfolios through its subsidiaries. The firm also launches equity mutual funds for its clients. It invests in public equity, fixed income, and alternative investment markets through its subsidiaries.

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Analyst Recommendations for Brightsphere Investment Group (NYSE:BSIG)

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