Brightsphere Investment Group PLC (BSIG) Receives Consensus Recommendation of “Buy” from Brokerages

Brightsphere Investment Group PLC (NYSE:BSIG) has been given a consensus rating of “Buy” by the eight research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $17.00.

BSIG has been the subject of a number of analyst reports. Keefe, Bruyette & Woods downgraded Brightsphere Investment Group from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $15.25 to $13.00 in a research note on Tuesday, January 8th. Zacks Investment Research downgraded Brightsphere Investment Group from a “buy” rating to a “sell” rating in a research note on Tuesday, January 8th. Citigroup downgraded Brightsphere Investment Group from a “buy” rating to a “neutral” rating in a research note on Monday, January 14th. Morgan Stanley set a $12.00 price target on Brightsphere Investment Group and gave the company a “hold” rating in a research note on Friday, February 8th. Finally, Royal Bank of Canada set a $16.00 price target on Brightsphere Investment Group and gave the company a “buy” rating in a research note on Friday, February 8th.

Brightsphere Investment Group stock traded down $0.14 during mid-day trading on Wednesday, hitting $14.40. 358,400 shares of the company’s stock traded hands, compared to its average volume of 632,753. Brightsphere Investment Group has a fifty-two week low of $10.04 and a fifty-two week high of $16.34. The company has a market capitalization of $1.60 billion and a price-to-earnings ratio of 7.73.

Brightsphere Investment Group (NYSE:BSIG) last announced its quarterly earnings results on Thursday, February 7th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.05. Brightsphere Investment Group had a return on equity of 141.96% and a net margin of 14.69%. The business had revenue of $214.50 million during the quarter, compared to the consensus estimate of $212.23 million. The company’s quarterly revenue was down 13.9% compared to the same quarter last year. As a group, sell-side analysts expect that Brightsphere Investment Group will post 1.82 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Thursday, March 14th.

In other Brightsphere Investment Group news, major shareholder Hna Eagle Holdco Llc sold 22,776,663 shares of Brightsphere Investment Group stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $13.94, for a total value of $317,506,682.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Aidan J. Riordan sold 5,738 shares of Brightsphere Investment Group stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $14.03, for a total value of $80,504.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,792,535 shares of company stock valued at $317,725,199. 0.61% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of Brightsphere Investment Group by 32.8% in the fourth quarter. FMR LLC now owns 10,623,076 shares of the company’s stock worth $113,455,000 after acquiring an additional 2,625,467 shares during the period. BlackRock Inc. raised its stake in Brightsphere Investment Group by 8.1% in the 3rd quarter. BlackRock Inc. now owns 4,896,528 shares of the company’s stock worth $60,715,000 after acquiring an additional 365,382 shares during the last quarter. Jennison Associates LLC raised its stake in Brightsphere Investment Group by 1.4% in the 4th quarter. Jennison Associates LLC now owns 4,373,577 shares of the company’s stock worth $46,710,000 after acquiring an additional 62,233 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in Brightsphere Investment Group by 133.5% in the 4th quarter. Lord Abbett & CO. LLC now owns 2,267,855 shares of the company’s stock worth $24,221,000 after acquiring an additional 1,296,560 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in Brightsphere Investment Group by 383.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,091,824 shares of the company’s stock worth $25,939,000 after acquiring an additional 1,658,877 shares during the last quarter. Hedge funds and other institutional investors own 0.74% of the company’s stock.

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.

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Analyst Recommendations for Brightsphere Investment Group (NYSE:BSIG)

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