Shares of Brightsphere Investment Group PLC (NYSE:BSIG) have been assigned an average recommendation of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $18.08.
A number of equities research analysts recently issued reports on the stock. Citigroup dropped their target price on shares of Brightsphere Investment Group from $18.50 to $16.50 and set a “buy” rating for the company in a research report on Wednesday, November 21st. Zacks Investment Research upgraded shares of Brightsphere Investment Group from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Friday, November 16th.
Shares of Brightsphere Investment Group stock traded down $0.03 during mid-day trading on Thursday, reaching $11.33. 976,500 shares of the stock were exchanged, compared to its average volume of 619,494. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. Brightsphere Investment Group has a fifty-two week low of $11.13 and a fifty-two week high of $18.62.
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 analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $230.10 million during the quarter, compared to analysts’ expectations of $227.95 million. Brightsphere Investment Group had a net margin of 6.71% and a return on equity of 135.80%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $0.43 EPS. On average, analysts predict that Brightsphere Investment Group will post 1.87 EPS for the current year.
The business also recently disclosed a dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be issued 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 is currently 11.11%.
In other Brightsphere Investment Group news, major shareholder Hna Eagle Holdco Llc sold 4,598,566 shares of the stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $12.80, for a total transaction of $58,861,644.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.61% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in Brightsphere Investment Group by 8.1% during the 3rd quarter. BlackRock Inc. now owns 4,896,528 shares of the company’s stock worth $60,715,000 after acquiring an additional 365,382 shares during the last quarter. Jennison Associates LLC grew its holdings in Brightsphere Investment Group by 3.7% during the 3rd quarter. Jennison Associates LLC now owns 4,311,344 shares of the company’s stock worth $53,461,000 after acquiring an additional 153,206 shares during the last quarter. William Blair Investment Management LLC grew its holdings in Brightsphere Investment Group by 5.4% during the 3rd quarter. William Blair Investment Management LLC now owns 3,978,643 shares of the company’s stock worth $49,335,000 after acquiring an additional 205,471 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Brightsphere Investment Group by 383.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,091,824 shares of the company’s stock worth $25,939,000 after acquiring an additional 1,658,877 shares during the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC grew its holdings in Brightsphere Investment Group by 3.3% during the 3rd quarter. Philadelphia Financial Management of San Francisco LLC now owns 1,887,545 shares of the company’s stock worth $23,406,000 after acquiring an additional 61,118 shares during the last quarter. 0.03% of the stock is currently owned by hedge funds and other 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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