Keefe, Bruyette & Woods lowered shares of Brightsphere Investment Group (NYSE:BSIG) from an outperform rating to a market perform rating in a research note published on Tuesday, MarketBeat Ratings reports. The firm currently has $13.00 price target on the stock, down from their prior price target of $15.25.
Other research analysts have also issued reports about the company. Citigroup lowered their price objective on Brightsphere Investment Group from $18.50 to $16.50 and set a buy rating for the company in a research report on Wednesday, November 21st. Zacks Investment Research upgraded Brightsphere Investment Group from a hold rating to a buy rating and set a $14.00 price objective for the company in a research report on Friday, November 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $16.50.
Brightsphere Investment Group stock traded down $0.07 during mid-day trading on Tuesday, hitting $11.33. The company’s stock had a trading volume of 663,943 shares, compared to its average volume of 591,563. Brightsphere Investment Group has a 1 year low of $10.04 and a 1 year high of $18.62. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09.
Brightsphere Investment Group (NYSE:BSIG) last issued its quarterly earnings data on Thursday, November 1st. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. The company had revenue of $230.10 million during the quarter, compared to analyst estimates of $227.95 million. Brightsphere Investment Group had a return on equity of 135.80% and a net margin of 6.71%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.43 earnings per share. Research analysts predict that Brightsphere Investment Group will post 1.83 earnings per share for the current year.
The company also recently declared a dividend, which was paid on Friday, December 28th. Shareholders of record on Friday, December 14th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, December 13th. Brightsphere Investment Group’s dividend payout ratio (DPR) is 5.56%.
In other Brightsphere Investment Group news, major shareholder Hna Eagle Holdco Llc sold 4,598,566 shares of the company’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $12.80, for a total transaction of $58,861,644.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd lifted its stake in Brightsphere Investment Group by 10,714.7% during the second quarter. Point72 Hong Kong Ltd now owns 7,354 shares of the company’s stock worth $105,000 after purchasing an additional 7,286 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Brightsphere Investment Group during the third quarter worth $112,000. Jane Street Group LLC acquired a new stake in shares of Brightsphere Investment Group in the second quarter valued at $211,000. SG Americas Securities LLC raised its stake in shares of Brightsphere Investment Group by 131.1% in the second quarter. SG Americas Securities LLC now owns 15,694 shares of the company’s stock valued at $224,000 after acquiring an additional 8,903 shares in the last quarter. Finally, First Hawaiian Bank acquired a new stake in shares of Brightsphere Investment Group in the third quarter valued at $251,000. Institutional investors own 0.03% 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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