Brokerages Set Brightsphere Investment Group PLC (NYSE:BSIG) Price Target at $13.50

Shares of Brightsphere Investment Group PLC (NYSE:BSIG) have been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $13.50.

BSIG has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Brightsphere Investment Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. Morgan Stanley reduced their price target on Brightsphere Investment Group from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Citigroup reduced their price target on Brightsphere Investment Group from $15.00 to $12.50 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, Royal Bank of Canada set a $17.00 price target on Brightsphere Investment Group and gave the stock a “buy” rating in a report on Friday, May 3rd.

In other news, insider Guang Yang acquired 50,000 shares of Brightsphere Investment Group stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $9.10 per share, for a total transaction of $455,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

Several large investors have recently modified their holdings of the company. Maverick Capital Ltd. bought a new stake in shares of Brightsphere Investment Group during the second quarter worth approximately $4,730,000. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Brightsphere Investment Group during the second quarter worth approximately $11,935,000. Susquehanna International Group LLP bought a new stake in shares of Brightsphere Investment Group during the second quarter worth approximately $669,000. Nuveen Asset Management LLC bought a new stake in shares of Brightsphere Investment Group during the second quarter worth approximately $20,420,000. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of Brightsphere Investment Group by 4.5% during the second quarter. UBS Asset Management Americas Inc. now owns 80,080 shares of the company’s stock worth $914,000 after acquiring an additional 3,439 shares during the period. Institutional investors own 0.53% of the company’s stock.

Brightsphere Investment Group stock traded down $0.01 during midday trading on Tuesday, reaching $8.71. 388,900 shares of the company’s stock were exchanged, compared to its average volume of 546,881. Brightsphere Investment Group has a 52 week low of $8.40 and a 52 week high of $14.87. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $789.16 million and a price-to-earnings ratio of 4.68. The stock’s 50-day simple moving average is $10.45 and its 200 day simple moving average is $12.35.

Brightsphere Investment Group (NYSE:BSIG) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. Brightsphere Investment Group had a return on equity of 214.61% and a net margin of 18.36%. The business had revenue of $207.10 million during the quarter, compared to analysts’ expectations of $211.13 million. During the same quarter last year, the company posted $0.47 earnings per share. Brightsphere Investment Group’s quarterly revenue was down 11.5% on a year-over-year basis. Research analysts forecast that Brightsphere Investment Group will post 1.8 earnings per share for the current year.

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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