Brightsphere Investment Group (NYSE:BSIG) Upgraded to “Hold” at Zacks Investment Research
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. “
A number of other research analysts have also weighed in on BSIG. Citigroup cut their price target on shares of Brightsphere Investment Group from $15.00 to $12.50 and set a neutral rating on the stock in a research note on Tuesday, July 9th. Credit Suisse Group reissued a buy rating and issued a $16.00 price objective on shares of Brightsphere Investment Group in a research report on Wednesday, September 11th. Finally, Morgan Stanley cut their price objective on shares of Brightsphere Investment Group from $12.00 to $11.00 and set an equal weight rating on the stock in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $14.25.
Brightsphere Investment Group (NYSE:BSIG) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.45 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.45. Brightsphere Investment Group had a net margin of 18.36% and a return on equity of 214.61%. The firm had revenue of $207.10 million for the quarter, compared to analyst estimates of $211.13 million. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The business’s revenue was down 11.5% on a year-over-year basis. On average, sell-side analysts anticipate that Brightsphere Investment Group will post 1.8 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Thursday, September 12th. Brightsphere Investment Group’s dividend payout ratio is presently 21.51%.
In other Brightsphere Investment Group news, insider Guang Yang acquired 50,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average price of $9.10 per share, with a total value of $455,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 24.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of BSIG. Meeder Asset Management Inc. acquired a new position in shares of Brightsphere Investment Group in the second quarter valued at $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. SG Americas Securities LLC acquired a new stake in shares of Brightsphere Investment Group during the 1st quarter worth approximately $122,000. Finally, Aperio Group LLC acquired a new stake in shares of Brightsphere Investment Group during the 2nd quarter worth approximately $108,000. 1.16% of the stock is currently owned by hedge funds and other institutional investors.
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.
Featured Article: Percentage Decliners
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Brightsphere Investment Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brightsphere Investment Group and related companies with MarketBeat.com's FREE daily email newsletter.