Brightsphere Investment Group (NYSE:BSIG) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Brightsphere Investment Group (NYSE:BSIG) from a sell rating to a hold rating in a research report sent to investors on Tuesday 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. “

Several other equities analysts have also recently commented on BSIG. Royal Bank of Canada set a $17.00 target price on Brightsphere Investment Group and gave the company a buy rating in a research note on Friday, May 3rd. Citigroup reduced their target price on Brightsphere Investment Group from $15.00 to $12.50 and set a neutral rating for the company in a research note on Tuesday, July 9th. Finally, Morgan Stanley reduced their target price on Brightsphere Investment Group from $12.00 to $11.00 and set an equal weight rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $13.90.

Brightsphere Investment Group stock opened at $8.59 on Tuesday. The stock has a market cap of $783.64 million and a P/E ratio of 4.90. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 3.62. The stock has a 50 day moving average of $10.68 and a 200-day moving average of $12.42. Brightsphere Investment Group has a 52 week low of $8.40 and a 52 week high of $14.87.

Brightsphere Investment Group (NYSE:BSIG) last released its earnings results on Thursday, August 1st. The company reported $0.45 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The company had revenue of $207.10 million during the quarter, compared to analysts’ expectations of $211.13 million. Brightsphere Investment Group had a return on equity of 214.61% and a net margin of 18.36%. The business’s revenue was down 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 EPS. As a group, equities analysts predict that Brightsphere Investment Group will post 1.8 earnings per share for the current fiscal year.

In other news, insider Guang Yang purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of $9.10 per share, with a total value of $455,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.61% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Neuberger Berman Group LLC raised its position in shares of Brightsphere Investment Group by 7.6% during 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. JPMorgan Chase & Co. raised its position in shares of Brightsphere Investment Group by 174.3% during 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. Dimensional Fund Advisors LP raised its position in shares of Brightsphere Investment Group by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,939,701 shares of the company’s stock valued at $20,716,000 after acquiring an additional 118,443 shares in the last quarter. Norges Bank acquired a new stake in shares of Brightsphere Investment Group during the 4th quarter valued at approximately $20,685,000. Finally, Nuveen Asset Management LLC acquired a new stake in shares of Brightsphere Investment Group during the 2nd quarter valued at approximately $20,420,000. 0.15% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Retained Earnings

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