Brightsphere Investment Group PLC (NYSE:BSIG) has earned a consensus rating of “Hold” from the six research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $15.00.
Several research analysts have weighed in on the stock. Zacks Investment Research cut shares of Brightsphere Investment Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 30th. Royal Bank of Canada set a $17.00 price target on shares of Brightsphere Investment Group and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Bank of America cut shares of Brightsphere Investment Group from a “buy” rating to an “underperform” rating in a report on Friday, April 12th. They noted that the move was a valuation call.
NYSE:BSIG traded up $0.30 during mid-day trading on Monday, hitting $11.41. The stock had a trading volume of 3,203,382 shares. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.63 and a current ratio of 0.63. Brightsphere Investment Group has a twelve month low of $10.04 and a twelve month high of $14.87. The stock has a 50 day simple moving average of $11.44.
Brightsphere Investment Group (NYSE:BSIG) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The firm had revenue of $205.70 million for the quarter, compared to analysts’ expectations of $203.30 million. Brightsphere Investment Group had a net margin of 14.88% and a return on equity of 187.25%. The business’s revenue was down 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS. As a group, equities analysts forecast that Brightsphere Investment Group will post 1.85 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.10 dividend. The ex-dividend date was Thursday, June 13th. This represents a $0.40 annualized dividend and a yield of 3.51%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC increased its holdings in shares of Brightsphere Investment Group by 32.8% during the fourth quarter. FMR LLC now owns 10,623,076 shares of the company’s stock worth $113,455,000 after purchasing an additional 2,625,467 shares during the period. Neuberger Berman Group LLC increased its position in shares of Brightsphere Investment Group by 7.6% during the first quarter. Neuberger Berman Group LLC now owns 5,353,653 shares of the company’s stock worth $72,596,000 after acquiring an additional 377,385 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of Brightsphere Investment Group by 133.5% during the fourth quarter. Lord Abbett & CO. LLC now owns 2,267,855 shares of the company’s stock worth $24,221,000 after acquiring an additional 1,296,560 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Brightsphere Investment Group by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,939,701 shares of the company’s stock worth $20,716,000 after acquiring an additional 118,443 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Brightsphere Investment Group during the fourth quarter worth about $20,685,000. 0.11% of the stock is currently owned by 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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