Brightsphere Investment Group (NYSE:BSIG) Rating Increased to Hold at Zacks Investment Research

Brightsphere Investment Group (NYSE:BSIG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday, Zacks.com reports.

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. “

BSIG has been the subject of several other reports. Evercore ISI reiterated a “hold” rating and set a $11.00 target price on shares of Brightsphere Investment Group in a research note on Monday, November 11th. Wells Fargo & Co reiterated a “buy” rating on shares of Brightsphere Investment Group in a research note on Tuesday, November 5th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $16.00 target price on shares of Brightsphere Investment Group in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $13.79.

Shares of Brightsphere Investment Group stock traded up $0.10 on Monday, reaching $9.73. The stock had a trading volume of 876,972 shares, compared to its average volume of 595,261. The business’s 50-day moving average price is $9.66 and its two-hundred day moving average price is $10.30. 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 fifty-two week low of $8.40 and a fifty-two week high of $14.87. The stock has a market cap of $834.41 million, a P/E ratio of 5.23, a price-to-earnings-growth ratio of 1.16 and a beta of 1.79.

Brightsphere Investment Group (NYSE:BSIG) last released its earnings results on Tuesday, November 5th. The company reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.02). The company had revenue of $197.80 million for the quarter, compared to analyst estimates of $205.68 million. Brightsphere Investment Group had a net margin of 21.67% and a return on equity of 228.89%. Brightsphere Investment Group’s revenue for the quarter was down 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 earnings per share. As a group, equities analysts forecast that Brightsphere Investment Group will post 1.73 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of Brightsphere Investment Group by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 254,832 shares of the company’s stock valued at $2,908,000 after buying an additional 6,160 shares in the last quarter. Algert Global LLC acquired a new position in shares of Brightsphere Investment Group in the 2nd quarter valued at $388,000. JPMorgan Chase & Co. grew its holdings in shares of Brightsphere Investment Group by 174.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,603,882 shares of the company’s stock worth $28,929,000 after purchasing an additional 1,654,493 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC bought a new stake in shares of Brightsphere Investment Group in the 2nd quarter worth about $1,042,000. Finally, Nisa Investment Advisors LLC bought a new stake in shares of Brightsphere Investment Group in the 2nd quarter worth about $57,000. Institutional investors own 98.39% 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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