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

Brightsphere Investment Group (NYSE:BSIG) had its price objective lowered by Citigroup from $18.50 to $16.50 in a research report released on Wednesday. The brokerage currently has a buy rating on the stock.

Separately, Zacks Investment Research raised Brightsphere Investment Group from a hold rating to a buy rating and set a $14.00 price objective on the stock in a report on Friday, November 16th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $18.21.

Shares of BSIG opened at $12.96 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Brightsphere Investment Group has a 52-week low of $11.15 and a 52-week high of $18.62.

Brightsphere Investment Group (NYSE:BSIG) last issued its quarterly earnings data 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 for 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 EPS. On average, equities research analysts forecast that Brightsphere Investment Group will post 1.87 earnings per share for the current fiscal year.

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 dated Monday, November 19th. The stock was sold at an average price of $12.80, for a total value of $58,861,644.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.61% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Brightsphere Investment Group by 8.1% in the 3rd quarter. BlackRock Inc. now owns 4,896,528 shares of the company’s stock valued at $60,715,000 after acquiring an additional 365,382 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Brightsphere Investment Group by 3.7% in the 3rd quarter. Jennison Associates LLC now owns 4,311,344 shares of the company’s stock valued at $53,461,000 after acquiring an additional 153,206 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Brightsphere Investment Group by 5.4% in the 3rd quarter. William Blair Investment Management LLC now owns 3,978,643 shares of the company’s stock valued at $49,335,000 after acquiring an additional 205,471 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Brightsphere Investment Group by 383.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,091,824 shares of the company’s stock valued at $25,939,000 after acquiring an additional 1,658,877 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC increased its position in shares of 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 valued at $23,406,000 after purchasing an additional 61,118 shares during the last quarter. 1.34% of the stock is currently owned by hedge funds and other institutional investors.

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.

Featured Article: Return on Investment (ROI) Defined, Explained

Analyst Recommendations for Brightsphere Investment Group (NYSE:BSIG)

Receive News & Ratings for Brightsphere Investment Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brightsphere Investment Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply