Brightsphere Investment Group PLC (NYSE:BSIG) Given Average Rating of “Buy” by Brokerages

Brightsphere Investment Group PLC (NYSE:BSIG) has been given an average rating of “Buy” by the nine brokerages that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $14.56.

BSIG has been the topic of a number of recent analyst reports. Bank of America upgraded shares of Brightsphere Investment Group from an “underperform” rating to a “neutral” rating and upped their price target for the company from $12.00 to $16.00 in a research note on Wednesday. Wells Fargo & Co restated a “hold” rating on shares of Brightsphere Investment Group in a research note on Thursday, May 7th. Keefe, Bruyette & Woods upgraded shares of Brightsphere Investment Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $14.00 to $18.50 in a research note on Tuesday, July 28th. Zacks Investment Research upgraded shares of Brightsphere Investment Group from a “strong sell” rating to a “strong-buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, June 9th. Finally, BofA Securities upgraded shares of Brightsphere Investment Group from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $12.00 to $16.00 in a research note on Wednesday.

Several large investors have recently modified their holdings of the company. Oregon Public Employees Retirement Fund purchased a new stake in Brightsphere Investment Group in the 2nd quarter valued at $81,000. Great West Life Assurance Co. Can purchased a new stake in Brightsphere Investment Group in the 4th quarter valued at $81,000. Meeder Asset Management Inc. raised its position in Brightsphere Investment Group by 183.1% in the 1st quarter. Meeder Asset Management Inc. now owns 9,259 shares of the company’s stock valued at $59,000 after purchasing an additional 5,988 shares during the last quarter. Strs Ohio raised its position in Brightsphere Investment Group by 31.9% in the 2nd quarter. Strs Ohio now owns 9,500 shares of the company’s stock valued at $118,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its position in Brightsphere Investment Group by 17.5% in the 1st quarter. Wedge Capital Management L L P NC now owns 12,912 shares of the company’s stock valued at $83,000 after purchasing an additional 1,923 shares during the last quarter. Institutional investors and hedge funds own 97.02% of the company’s stock.

NYSE:BSIG traded down $0.32 during midday trading on Tuesday, reaching $13.44. 1,358,565 shares of the stock traded hands, compared to its average volume of 829,947. Brightsphere Investment Group has a 12-month low of $3.61 and a 12-month high of $14.61. The business has a 50-day moving average of $11.79 and a two-hundred day moving average of $9.02. The stock has a market capitalization of $1.09 billion, a PE ratio of 5.79, a price-to-earnings-growth ratio of 1.21 and a beta of 1.69.

Brightsphere Investment Group (NYSE:BSIG) last posted its earnings results on Thursday, May 7th. The company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.04. Brightsphere Investment Group had a net margin of 25.64% and a return on equity of 1,914.29%. The company had revenue of $182.60 million during the quarter. Equities analysts forecast that Brightsphere Investment Group will post 1.56 EPS for the current year.

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.

See Also: Are FAANG stocks a good investment?

Analyst Recommendations for Brightsphere Investment Group (NYSE:BSIG)

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.