Brightsphere Investment Group (NYSE:BSIG) Stock Price Up 16.5%

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Brightsphere Investment Group PLC (NYSE:BSIG)’s stock price rose 16.5% during trading on Wednesday . The company traded as high as $5.31 and last traded at $5.99, approximately 23,328 shares changed hands during mid-day trading. A decline of 97% from the average daily volume of 892,246 shares. The stock had previously closed at $5.14.

BSIG has been the topic of a number of analyst reports. Morgan Stanley decreased their target price on shares of Brightsphere Investment Group from $11.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Friday, March 13th. Royal Bank of Canada reiterated a “buy” rating and issued a $13.00 target price on shares of Brightsphere Investment Group in a research report on Sunday, February 9th. Zacks Investment Research cut shares of Brightsphere Investment Group from a “hold” rating to a “sell” rating in a research report on Monday, March 16th. Bank of America decreased their target price on shares of Brightsphere Investment Group from $7.00 to $4.00 and set an “underperform” rating on the stock in a research report on Monday. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of Brightsphere Investment Group in a research report on Monday, March 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.81.

The firm has a market cap of $440.45 million, a P/E ratio of 2.60, a price-to-earnings-growth ratio of 0.40 and a beta of 1.34. The business’s fifty day simple moving average is $8.30 and its 200-day simple moving average is $9.45.

Brightsphere Investment Group (NYSE:BSIG) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. Brightsphere Investment Group had a net margin of 27.32% and a return on equity of 1,914.29%. The business had revenue of $207.40 million for the quarter. Sell-side analysts predict that Brightsphere Investment Group PLC will post 1.7 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.20%. The ex-dividend date is Thursday, March 12th. Brightsphere Investment Group’s payout ratio is currently 22.60%.

In other Brightsphere Investment Group news, CEO Guang Yang acquired 50,001 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average price of $10.07 per share, with a total value of $503,510.07. Following the completion of the purchase, the chief executive officer now directly owns 50,001 shares of the company’s stock, valued at approximately $503,510.07. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 24.10% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Brightsphere Investment Group during the fourth quarter worth $18,255,000. CI Investments Inc. raised its stake in Brightsphere Investment Group by 4.1% during the fourth quarter. CI Investments Inc. now owns 1,640,973 shares of the company’s stock valued at $16,771,000 after purchasing an additional 65,100 shares in the last quarter. State Street Corp raised its stake in Brightsphere Investment Group by 1.3% during the fourth quarter. State Street Corp now owns 1,535,425 shares of the company’s stock valued at $15,692,000 after purchasing an additional 19,940 shares in the last quarter. Prudential Financial Inc. raised its stake in Brightsphere Investment Group by 11.2% during the fourth quarter. Prudential Financial Inc. now owns 1,160,880 shares of the company’s stock valued at $11,864,000 after purchasing an additional 117,146 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in Brightsphere Investment Group by 6.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,115,255 shares of the company’s stock valued at $11,398,000 after purchasing an additional 64,980 shares in the last quarter. Hedge funds and other institutional investors own 97.56% of the company’s stock.

Brightsphere Investment Group Company Profile (NYSE:BSIG)

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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