Shares of Brightsphere Investment Group PLC (NYSE:BSIG) have received a consensus rating of “Buy” from the nine brokerages that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $14.56.
Several equities analysts recently commented on BSIG shares. Morgan Stanley upped their price objective on Brightsphere Investment Group from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods raised shares of Brightsphere Investment Group from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $14.00 to $18.50 in a report on Tuesday, July 28th. BofA Securities raised shares of Brightsphere Investment Group from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $12.00 to $16.00 in a report on Wednesday. Zacks Investment Research raised shares of Brightsphere Investment Group from a “strong sell” rating to a “strong-buy” rating and set a $11.00 price target on the stock in a report on Tuesday, June 9th. Finally, Wells Fargo & Co reissued a “hold” rating on shares of Brightsphere Investment Group in a research note on Thursday, May 7th.
Several large investors have recently made changes to their positions in BSIG. Comerica Bank bought a new position in shares of Brightsphere Investment Group during the second quarter valued at approximately $830,000. Mackay Shields LLC grew its position in Brightsphere Investment Group by 10.6% in the 2nd quarter. Mackay Shields LLC now owns 293,900 shares of the company’s stock worth $3,662,000 after purchasing an additional 28,100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Brightsphere Investment Group by 249.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,285 shares of the company’s stock worth $178,000 after purchasing an additional 10,200 shares during the period. Strs Ohio grew 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 worth $118,000 after purchasing an additional 2,300 shares during the period. Finally, Denali Advisors LLC grew its position in Brightsphere Investment Group by 121.4% in the 2nd quarter. Denali Advisors LLC now owns 66,200 shares of the company’s stock worth $825,000 after purchasing an additional 36,300 shares during the period. 97.02% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE BSIG traded down $0.32 during trading hours on Tuesday, reaching $13.44. 1,358,565 shares of the stock were exchanged, compared to its average volume of 829,947. The stock’s fifty day simple moving average is $11.79 and its 200 day simple moving average is $9.02. Brightsphere Investment Group has a 52 week low of $3.61 and a 52 week high of $14.61. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 5.79, a P/E/G ratio of 1.21 and a beta of 1.69.
Brightsphere Investment Group (NYSE:BSIG) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.04. The company had revenue of $182.60 million for the quarter. Brightsphere Investment Group had a return on equity of 1,914.29% and a net margin of 25.64%. On average, research analysts predict that Brightsphere Investment Group will post 1.56 EPS for the current fiscal 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.
See Also: Capital Gains
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.