Zacks Investment Research Lowers Brightsphere Investment Group (NYSE:BSIG) to Sell

Zacks Investment Research lowered shares of Brightsphere Investment Group (NYSE:BSIG) from a hold rating to a sell rating in a research note 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. “

Several other equities analysts have also recently issued reports on the company. Morgan Stanley lowered their price target on Brightsphere Investment Group from $12.00 to $11.00 and set an equal weight rating on the stock in a research report on Friday, August 2nd. Citigroup lowered their price target on Brightsphere Investment Group from $15.00 to $12.50 and set a neutral rating on the stock in a research report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Brightsphere Investment Group presently has a consensus rating of Hold and a consensus price target of $14.25.

Shares of BSIG stock traded up $0.03 during mid-day trading on Monday, hitting $10.26. 15,926 shares of the stock traded hands, compared to its average volume of 566,699. Brightsphere Investment Group has a twelve month low of $8.40 and a twelve month high of $14.87. The firm has a market cap of $920.91 million, a price-to-earnings ratio of 5.53, a price-to-earnings-growth ratio of 1.24 and a beta of 1.83. The company’s 50-day simple moving average is $9.47 and its 200-day simple moving average is $11.90. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.63 and a current ratio of 0.63.

Brightsphere Investment Group (NYSE:BSIG) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. Brightsphere Investment Group had a return on equity of 214.61% and a net margin of 18.36%. The company had revenue of $207.10 million for the quarter, compared to analysts’ expectations of $211.13 million. During the same period last year, the firm earned $0.47 EPS. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. Analysts forecast that Brightsphere Investment Group will post 1.8 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Thursday, September 12th.

In related news, insider Guang Yang bought 50,000 shares of the firm’s 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 legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 24.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Neuberger Berman Group LLC grew its holdings in shares of 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 worth $72,596,000 after acquiring an additional 377,385 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Brightsphere Investment Group by 174.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,603,882 shares of the company’s stock worth $28,929,000 after acquiring an additional 1,654,493 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Brightsphere Investment Group by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,939,701 shares of the company’s stock worth $20,716,000 after buying an additional 118,443 shares during the period. Nuveen Asset Management LLC purchased a new position in shares of Brightsphere Investment Group during the second quarter valued at $20,420,000. Finally, Citadel Advisors LLC grew its holdings in shares of Brightsphere Investment Group by 57.6% during the second quarter. Citadel Advisors LLC now owns 1,549,660 shares of the company’s stock valued at $17,681,000 after buying an additional 566,370 shares in the last quarter. Institutional investors and hedge funds own 1.16% 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.

Recommended Story: After-Hours Trading

Get a free copy of the Zacks research report on Brightsphere Investment Group (BSIG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.