Zacks Investment Research upgraded shares of Brightsphere Investment Group (NYSE:BSIG) from a sell rating to a hold rating in a research note issued to investors on Monday morning, Zacks.com reports.
According to Zacks, “BrightSphere Investment Group plc is a diversified multi-boutique asset management company. The Company focuses on equities and fixed income portfolios, as well as investments in timber and real estate sectors. BrightSphere Investment Group plc, formerly known as OM Asset Management plc, is based in London, United Kingdom. “
BSIG has been the topic of several other research reports. Citigroup dropped their price target on shares of Brightsphere Investment Group from $15.00 to $12.50 and set a neutral rating on the stock in a research note on Tuesday, July 9th. Credit Suisse Group restated a buy rating and set a $16.00 price target on shares of Brightsphere Investment Group in a research note on Wednesday, September 11th. Finally, Morgan Stanley dropped their price target on shares of Brightsphere Investment Group from $12.00 to $11.00 and set an equal weight rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $14.25.
Shares of BSIG opened at $10.56 on Monday. The company’s fifty day moving average is $9.40 and its 200-day moving average is $11.77. Brightsphere Investment Group has a 12 month low of $8.40 and a 12 month high of $14.87. The firm has a market cap of $957.21 million, a price-to-earnings ratio of 6.06, a price-to-earnings-growth ratio of 1.29 and a beta of 1.83. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 3.62.
Brightsphere Investment Group (NYSE:BSIG) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.45 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. Brightsphere Investment Group had a net margin of 18.36% and a return on equity of 214.61%. The company had revenue of $207.10 million for the quarter, compared to analyst estimates of $211.13 million. During the same quarter in the prior year, the business posted $0.47 EPS. Brightsphere Investment Group’s quarterly revenue was down 11.5% on a year-over-year basis. As a group, research analysts predict that Brightsphere Investment Group will post 1.8 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.40 dividend on an annualized basis and a yield of 3.79%. Brightsphere Investment Group’s payout ratio is presently 21.51%.
In other news, insider Guang Yang bought 50,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of $9.10 per share, for a total transaction of $455,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 24.10% of the company’s stock.
A number of large investors have recently bought and sold shares of BSIG. Nuveen Asset Management LLC acquired a new stake in Brightsphere Investment Group in the 2nd quarter worth $20,420,000. JPMorgan Chase & Co. increased its position in Brightsphere Investment Group by 174.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,603,882 shares of the company’s stock valued at $28,929,000 after acquiring an additional 1,654,493 shares in the last quarter. Citadel Advisors LLC increased its position in Brightsphere Investment Group by 57.6% in the 2nd quarter. Citadel Advisors LLC now owns 1,549,660 shares of the company’s stock valued at $17,681,000 after acquiring an additional 566,370 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in Brightsphere Investment Group in the 2nd quarter valued at about $4,730,000. Finally, Neuberger Berman Group LLC increased its position in Brightsphere Investment Group by 7.6% in the 1st quarter. Neuberger Berman Group LLC now owns 5,353,653 shares of the company’s stock valued at $72,596,000 after acquiring an additional 377,385 shares in the last quarter. Institutional investors and hedge funds own 1.16% of the company’s stock.
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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