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 Thursday 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 research analysts have also recently weighed in on BSIG. Morgan Stanley lowered their target price on Brightsphere Investment Group from $12.00 to $11.00 and set an equal weight rating for the company in a report on Friday, August 2nd. Credit Suisse Group reiterated a buy rating and issued a $16.00 target price on shares of Brightsphere Investment Group in a report on Wednesday, September 11th. Finally, Wells Fargo & Co reiterated a buy rating on shares of Brightsphere Investment Group in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s 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 $0.06 during mid-day trading on Thursday, hitting $10.16. The stock had a trading volume of 347,532 shares, compared to its average volume of 600,573. Brightsphere Investment Group has a 12-month low of $8.40 and a 12-month high of $14.87. The firm has a market capitalization of $910.03 million, a P/E ratio of 5.46, a price-to-earnings-growth ratio of 1.26 and a beta of 1.84. The firm’s 50-day moving average is $9.73 and its two-hundred day moving average is $10.76. 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 (NYSE:BSIG) last issued its earnings results on Tuesday, November 5th. The company reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.02). Brightsphere Investment Group had a return on equity of 228.89% and a net margin of 21.67%. The firm had revenue of $197.80 million during the quarter, compared to analysts’ expectations of $205.68 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. Brightsphere Investment Group’s quarterly revenue was down 14.0% compared to the same quarter last year. Analysts expect that Brightsphere Investment Group will post 1.73 EPS for the current year.

Several hedge funds have recently modified their holdings of BSIG. Bank of New York Mellon Corp lifted its stake in shares of Brightsphere Investment Group by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 254,832 shares of the company’s stock worth $2,908,000 after purchasing an additional 6,160 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Brightsphere Investment Group during the 2nd quarter worth $388,000. JPMorgan Chase & Co. lifted its stake in shares of Brightsphere Investment Group by 174.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,603,882 shares of the company’s stock worth $28,929,000 after purchasing an additional 1,654,493 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in shares of Brightsphere Investment Group during the 2nd quarter worth $1,042,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Brightsphere Investment Group during the 2nd quarter worth $57,000. Institutional investors and hedge funds own 1.98% 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.

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