Brightsphere Investment Group (NYSE:BSIG) Raised to “Hold” at Zacks Investment Research

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

BSIG has been the topic of several other reports. Citigroup dropped their target price on Brightsphere Investment Group from $15.00 to $12.50 and set a neutral rating on the stock in a report on Tuesday, July 9th. Credit Suisse Group reissued a buy rating and issued a $16.00 target price on shares of Brightsphere Investment Group in a report on Wednesday, September 11th. Finally, Morgan Stanley dropped their target price on Brightsphere Investment Group from $12.00 to $11.00 and set an equal weight rating on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $14.25.

Brightsphere Investment Group stock opened at $10.54 on Monday. 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 business’s fifty day simple moving average is $9.40 and its two-hundred day simple moving average is $11.79. Brightsphere Investment Group has a 12 month low of $8.40 and a 12 month high of $14.87. The company has a market capitalization of $955.39 million, a price-to-earnings ratio of 5.67, a price-to-earnings-growth ratio of 1.29 and a beta of 1.83.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Thursday, September 12th. Brightsphere Investment Group’s payout ratio is currently 21.51%.

In other Brightsphere Investment Group news, insider Guang Yang purchased 50,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were purchased 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 Securities & Exchange Commission, which is available through this link. Corporate insiders own 24.10% of the company’s stock.

Large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in shares of Brightsphere Investment Group during the second quarter valued at $34,000. Nisa Investment Advisors LLC bought a new position in shares of Brightsphere Investment Group during the second quarter valued at $57,000. Bank of Montreal Can bought a new position in shares of Brightsphere Investment Group during the second quarter valued at $67,000. SG Americas Securities LLC bought a new position in shares of Brightsphere Investment Group during the first quarter valued at $122,000. Finally, Aperio Group LLC bought a new position in shares of Brightsphere Investment Group during the second quarter valued at $108,000. 1.16% of the stock is currently 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.

Further Reading: What is the return on assets (ROA) ratio?

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Analyst Recommendations for Brightsphere Investment Group (NYSE:BSIG)

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