Brightsphere Investment Group PLC (NYSE:BSIG) fell 5.4% during trading on Thursday . The stock traded as low as $11.81 and last traded at $12.00. 659,540 shares changed hands during mid-day trading, an increase of 7% from the average session volume of 616,490 shares. The stock had previously closed at $12.68.
Several research firms recently commented on BSIG. Citigroup cut their price target on Brightsphere Investment Group from $18.50 to $16.50 and set a “buy” rating for the company in a report on Wednesday, November 21st. Zacks Investment Research raised Brightsphere Investment Group from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Friday, November 16th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Brightsphere Investment Group presently has a consensus rating of “Buy” and a consensus target price of $18.21.
The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.
Brightsphere Investment Group (NYSE:BSIG) last posted its earnings results on Thursday, November 1st. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. The company had revenue of $230.10 million during the quarter, compared to analysts’ expectations of $227.95 million. Brightsphere Investment Group had a return on equity of 147.71% and a net margin of 6.71%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 earnings per share. As a group, equities analysts predict that Brightsphere Investment Group PLC will post 1.87 EPS for the current year.
The firm also recently announced a dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 13th. Brightsphere Investment Group’s dividend payout ratio (DPR) is 11.11%.
In other Brightsphere Investment Group news, major shareholder Hna Eagle Holdco Llc sold 4,598,566 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $12.80, for a total transaction of $58,861,644.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BSIG. Point72 Hong Kong Ltd boosted its position in shares of Brightsphere Investment Group by 10,714.7% during the second quarter. Point72 Hong Kong Ltd now owns 7,354 shares of the company’s stock worth $105,000 after buying an additional 7,286 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of Brightsphere Investment Group during the third quarter worth $112,000. Jane Street Group LLC purchased a new position in shares of Brightsphere Investment Group during the second quarter worth $211,000. SG Americas Securities LLC boosted its holdings in Brightsphere Investment Group by 131.1% in the second 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 period. Finally, First Hawaiian Bank purchased a new position in Brightsphere Investment Group in the third quarter valued at $251,000. Institutional investors and hedge funds own 0.03% of the company’s stock.
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Brightsphere Investment Group Company Profile (NYSE:BSIG)
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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