Brightsphere Investment Group PLC (NYSE:BSIG) has received a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $17.00.
BSIG has been the topic of a number of research reports. Morgan Stanley set a $13.00 target price on shares of Brightsphere Investment Group and gave the stock a “hold” rating in a research note on Thursday, February 28th. Royal Bank of Canada set a $16.00 target price on shares of Brightsphere Investment Group and gave the stock a “buy” rating in a research note on Friday, February 8th. Citigroup lowered shares of Brightsphere Investment Group from a “buy” rating to a “neutral” rating in a research note on Monday, January 14th. Keefe, Bruyette & Woods reissued a “mkt perform” rating on shares of Brightsphere Investment Group in a research note on Wednesday, January 9th. Finally, Zacks Investment Research lowered shares of Brightsphere Investment Group from a “buy” rating to a “sell” rating in a research note on Tuesday, January 8th.
In other news, EVP Aidan J. Riordan sold 3,993 shares of Brightsphere Investment Group stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $13.36, for a total transaction of $53,346.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Paulson purchased 14,790,038 shares of Brightsphere Investment Group stock in a transaction dated Monday, February 25th. The shares were purchased at an average cost of $13.95 per share, for a total transaction of $206,321,030.10. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 22,792,535 shares of company stock worth $317,725,199. Corporate insiders own 0.61% of the company’s stock.
Several large investors have recently bought and sold shares of BSIG. SG Americas Securities LLC grew its stake in shares of Brightsphere Investment Group by 38.5% during the third quarter. SG Americas Securities LLC now owns 21,735 shares of the company’s stock worth $270,000 after purchasing an additional 6,041 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Brightsphere Investment Group by 2.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 511,692 shares of the company’s stock worth $6,345,000 after acquiring an additional 10,905 shares during the last quarter. CI Investments Inc. grew its holdings in Brightsphere Investment Group by 33.7% during the 3rd quarter. CI Investments Inc. now owns 1,504,000 shares of the company’s stock worth $18,650,000 after acquiring an additional 378,700 shares during the last quarter. BlackRock Inc. grew its holdings in Brightsphere Investment Group by 8.1% during the 3rd quarter. BlackRock Inc. now owns 4,896,528 shares of the company’s stock worth $60,715,000 after acquiring an additional 365,382 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Brightsphere Investment Group by 4.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,821,258 shares of the company’s stock valued at $22,584,000 after purchasing an additional 76,659 shares during the period. Institutional investors and hedge funds own 0.74% of the company’s stock.
BSIG traded down $0.14 during trading on Wednesday, reaching $14.40. The company’s stock had a trading volume of 358,400 shares, compared to its average volume of 632,753. Brightsphere Investment Group has a 1 year low of $10.04 and a 1 year high of $16.34. The firm has a market capitalization of $1.60 billion and a price-to-earnings ratio of 7.73.
Brightsphere Investment Group (NYSE:BSIG) last released its earnings results on Thursday, February 7th. The company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.05. Brightsphere Investment Group had a net margin of 14.69% and a return on equity of 141.96%. The business had revenue of $214.50 million for the quarter, compared to analyst estimates of $212.23 million. The firm’s revenue for the quarter was down 13.9% compared to the same quarter last year. On average, sell-side analysts forecast that Brightsphere Investment Group will post 1.82 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was Thursday, March 14th.
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.
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.