Brightsphere Investment Group PLC (NYSE:BSIG) has been given an average recommendation of “Buy” by the seven research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $18.90.
Several brokerages recently commented on BSIG. Citigroup dropped their price target on Brightsphere Investment Group from $17.50 to $16.50 and set a “buy” rating for the company in a research report on Friday, November 2nd. Zacks Investment Research upgraded Brightsphere Investment Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 11th.
Shares of BSIG opened at $12.89 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.20. Brightsphere Investment Group has a one year low of $11.15 and a one year high of $18.62.
Brightsphere Investment Group (NYSE:BSIG) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.01. Brightsphere Investment Group had a return on equity of 135.80% and a net margin of 6.71%. The firm had revenue of $230.10 million during the quarter, compared to analysts’ expectations of $227.95 million. During the same period in the previous year, the business earned $0.43 earnings per share. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, sell-side analysts forecast that Brightsphere Investment Group will post 1.86 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Silchester International Investors LLP boosted its stake in Brightsphere Investment Group by 41.4% during the second quarter. Silchester International Investors LLP now owns 137,038 shares of the company’s stock worth $1,954,000 after buying an additional 40,094 shares during the last quarter. Citadel Advisors LLC boosted its stake in Brightsphere Investment Group by 712.5% during the second quarter. Citadel Advisors LLC now owns 1,125,413 shares of the company’s stock worth $16,048,000 after buying an additional 986,904 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Brightsphere Investment Group by 36.1% during the second quarter. Russell Investments Group Ltd. now owns 404,027 shares of the company’s stock worth $5,761,000 after buying an additional 107,145 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Brightsphere Investment Group by 42.1% during the third quarter. Sterling Capital Management LLC now owns 244,259 shares of the company’s stock worth $3,029,000 after buying an additional 72,312 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Brightsphere Investment Group by 15.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 152,400 shares of the company’s stock worth $2,174,000 after buying an additional 20,900 shares during the last quarter. Hedge funds and other institutional investors own 1.34% 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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