Brightsphere Investment Group (NYSE:BSIG) Stock Rating Upgraded by Zacks Investment Research

Brightsphere Investment Group (NYSE:BSIG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, 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. “

Other analysts have also issued reports about the stock. Morgan Stanley decreased their price target on shares of Brightsphere Investment Group from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Co reissued a “buy” rating on shares of Brightsphere Investment Group in a research report on Friday, October 11th. Citigroup decreased their price target on shares of Brightsphere Investment Group from $15.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, Credit Suisse Group reissued a “buy” rating and set a $16.00 price target on shares of Brightsphere Investment Group in a research report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Brightsphere Investment Group currently has an average rating of “Hold” and a consensus price target of $14.25.

BSIG stock opened at $9.38 on Wednesday. Brightsphere Investment Group has a one year low of $8.40 and a one year high of $14.87. The company’s fifty day moving average price is $9.80 and its 200-day moving average price is $11.10. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market capitalization of $861.03 million, a PE ratio of 5.04, a price-to-earnings-growth ratio of 1.20 and a beta of 1.85.

Brightsphere Investment Group (NYSE:BSIG) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.45. The company had revenue of $207.10 million for the quarter, compared to the consensus estimate of $211.13 million. Brightsphere Investment Group had a net margin of 18.36% and a return on equity of 214.61%. Brightsphere Investment Group’s revenue was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 earnings per share. On average, research analysts predict that Brightsphere Investment Group will post 1.75 EPS for the current fiscal year.

In related news, insider Guang Yang acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $9.10 per share, with a total value of $455,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 24.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. acquired a new stake in shares of Brightsphere Investment Group during the 2nd quarter worth approximately $34,000. Nisa Investment Advisors LLC acquired a new stake in shares of Brightsphere Investment Group during the 2nd quarter worth approximately $57,000. Bank of Montreal Can acquired a new stake in shares of Brightsphere Investment Group during the 2nd quarter worth approximately $67,000. Aperio Group LLC acquired a new stake in shares of Brightsphere Investment Group during the 2nd quarter worth approximately $108,000. Finally, SG Americas Securities LLC grew its stake in shares of Brightsphere Investment Group by 19.0% during the 2nd quarter. SG Americas Securities LLC now owns 10,739 shares of the company’s stock worth $123,000 after purchasing an additional 1,717 shares during the period. 1.15% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Brightsphere Investment Group (NYSE:BSIG)

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