Zacks Investment Research upgraded shares of Brightsphere Investment Group (NYSE:BSIG) from a sell rating to a hold rating in a report released on Monday, 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. “
Other equities research analysts have also issued reports about the stock. Wells Fargo & Co reaffirmed a buy rating on shares of Brightsphere Investment Group in a research note on Tuesday, November 5th. Evercore ISI reissued a hold rating and set a $11.00 target price on shares of Brightsphere Investment Group in a research note on Monday, November 11th. Finally, Credit Suisse Group restated a buy rating and issued a $16.00 target price on shares of Brightsphere Investment Group in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $13.79.
Brightsphere Investment Group stock opened at $9.73 on Monday. The stock’s 50 day moving average is $9.68 and its 200 day moving average is $10.25. Brightsphere Investment Group has a one year low of $8.40 and a one year high of $14.87. The firm has a market cap of $829.22 million, a P/E ratio of 5.23, a P/E/G ratio of 1.16 and a beta of 1.79. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.63 and a quick ratio of 0.63.
Brightsphere Investment Group (NYSE:BSIG) last released its earnings results on Tuesday, November 5th. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Brightsphere Investment Group had a net margin of 21.67% and a return on equity of 228.89%. The firm had revenue of $197.80 million for the quarter, compared to analyst estimates of $205.68 million. During the same period in the prior year, the company posted $0.46 EPS. The business’s revenue for the quarter was down 14.0% compared to the same quarter last year. Equities analysts anticipate that Brightsphere Investment Group will post 1.73 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC bought a new position in shares of Brightsphere Investment Group during the 2nd quarter worth approximately $57,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Brightsphere Investment Group by 48.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 441,725 shares of the company’s stock valued at $5,040,000 after acquiring an additional 144,384 shares during the period. Rothschild & Co. Asset Management US Inc. lifted its position in shares of Brightsphere Investment Group by 1.2% during the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 993,825 shares of the company’s stock valued at $11,340,000 after acquiring an additional 11,775 shares during the period. SG Americas Securities LLC boosted its stake in Brightsphere Investment Group by 19.0% during the second quarter. SG Americas Securities LLC now owns 10,739 shares of the company’s stock worth $123,000 after acquiring an additional 1,717 shares in the last quarter. Finally, Velanne Asset Management Ltd boosted its stake in Brightsphere Investment Group by 1.6% during the second quarter. Velanne Asset Management Ltd now owns 533,856 shares of the company’s stock worth $6,091,000 after acquiring an additional 8,534 shares in the last quarter. Institutional investors and hedge funds own 98.39% of the company’s stock.
About Brightsphere Investment Group
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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