Brightsphere Investment Group (NYSE:BSIG) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of Brightsphere Investment Group (NYSE:BSIG) from a hold rating to a sell rating in a research note issued to investors on Wednesday 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 also recently issued reports on BSIG. Bank of America set a $144.00 price objective on shares of Walt Disney and gave the company a buy rating in a research note on Friday, April 12th. Citigroup downgraded shares of Apergy from a buy rating to a neutral rating and decreased their price objective for the company from $41.00 to $34.00 in a research note on Tuesday. Finally, Royal Bank of Canada set a $60.00 price objective on shares of Masonite International and gave the company a buy rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $14.30.



Shares of BSIG stock traded down $0.13 on Wednesday, reaching $11.49. 340,967 shares of the stock were exchanged, compared to its average volume of 574,695. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 3.62. Brightsphere Investment Group has a twelve month low of $10.04 and a twelve month high of $14.87. The company’s 50 day moving average price is $11.25.

Brightsphere Investment Group (NYSE:BSIG) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. Brightsphere Investment Group had a net margin of 14.88% and a return on equity of 187.25%. The company had revenue of $205.70 million during the quarter, compared to the consensus estimate of $203.30 million. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Brightsphere Investment Group’s revenue for the quarter was down 17.0% on a year-over-year basis. On average, equities analysts forecast that Brightsphere Investment Group will post 1.85 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.10 dividend. The ex-dividend date was Thursday, June 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.48%.

Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of Brightsphere Investment Group by 1.1% in the fourth quarter. Bank of New York Mellon Corp now owns 248,697 shares of the company’s stock valued at $2,657,000 after buying an additional 2,817 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Brightsphere Investment Group in the first quarter valued at about $46,000. Nordea Investment Management AB raised its holdings in shares of Brightsphere Investment Group by 1.9% in the first quarter. Nordea Investment Management AB now owns 382,251 shares of the company’s stock valued at $5,184,000 after buying an additional 7,250 shares during the last quarter. Convergence Investment Partners LLC purchased a new stake in shares of Brightsphere Investment Group in the first quarter valued at about $109,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Brightsphere Investment Group in the first quarter valued at about $122,000. 0.11% of the stock is 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.

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