Citigroup Cuts Brightsphere Investment Group (NYSE:BSIG) Price Target to $12.50

Brightsphere Investment Group (NYSE:BSIG) had its price target decreased by Citigroup from $15.00 to $12.50 in a report released on Tuesday, BenzingaRatingsTable reports. Citigroup currently has a neutral rating on the stock.

A number of other research firms have also recently commented on BSIG. Zacks Investment Research cut German American Bancorp. from a buy rating to a hold rating in a research note on Tuesday, April 30th. Bank of America set a $144.00 price target on Walt Disney and gave the company a buy rating in a research note on Friday, April 12th. Finally, Royal Bank of Canada set a $60.00 price target on 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 given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $14.30.

Brightsphere Investment Group stock opened at $11.49 on Tuesday. The company has a 50-day simple moving average of $11.25. 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 has a one year low of $10.04 and a one year high of $14.87.



Brightsphere Investment Group (NYSE:BSIG) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Brightsphere Investment Group had a return on equity of 187.25% and a net margin of 14.88%. The company had revenue of $205.70 million during the quarter, compared to analysts’ expectations of $203.30 million. During the same period last year, the business posted $0.50 earnings per share. The firm’s revenue was down 17.0% compared to the same quarter last year. As a group, equities analysts predict that Brightsphere Investment Group will post 1.83 earnings per share for the current year.

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

Several large investors have recently made changes to their positions in BSIG. Quantamental Technologies LLC purchased a new position in shares of Brightsphere Investment Group in the first quarter worth about $46,000. Convergence Investment Partners LLC purchased a new position in shares of Brightsphere Investment Group in the first quarter worth about $109,000. SG Americas Securities LLC purchased a new position in shares of Brightsphere Investment Group in the first quarter worth about $122,000. Amalgamated Bank purchased a new position in shares of Brightsphere Investment Group in the fourth quarter worth about $126,000. Finally, Weiss Asset Management LP purchased a new position in shares of Brightsphere Investment Group in the first quarter worth about $153,000. Hedge funds and other institutional investors own 0.11% of the company’s stock.

Brightsphere Investment Group Company Profile

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: What is dollar cost averaging (DCA)?

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.