Brightsphere Investment Group (NYSE:BSIG) PT Lowered to $11.00 at Morgan Stanley

Brightsphere Investment Group (NYSE:BSIG) had its price objective cut by equities research analysts at Morgan Stanley from $12.00 to $11.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 12.13% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada set a $17.00 price objective on Brightsphere Investment Group and gave the stock a “buy” rating in a research note on Friday, May 3rd. Zacks Investment Research lowered Brightsphere Investment Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. Citigroup decreased their price objective on Brightsphere Investment Group from $15.00 to $12.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, Bank of America downgraded Brightsphere Investment Group from a “buy” rating to an “underperform” rating in a research report on Friday, April 12th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $13.90.

Brightsphere Investment Group stock traded down $0.18 during mid-day trading on Friday, reaching $9.81. 15,235 shares of the stock traded hands, compared to its average volume of 323,365. The firm’s 50-day simple moving average is $11.23. Brightsphere Investment Group has a 12-month low of $9.94 and a 12-month high of $14.87. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 3.62. The firm has a market capitalization of $1.00 billion and a PE ratio of 5.27.

Brightsphere Investment Group (NYSE:BSIG) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. Brightsphere Investment Group had a return on equity of 187.25% and a net margin of 14.88%. The business had revenue of $207.10 million during the quarter, compared to analyst estimates of $211.13 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. Brightsphere Investment Group’s revenue for the quarter was down 11.5% on a year-over-year basis. Equities research analysts expect that Brightsphere Investment Group will post 1.8 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Brightsphere Investment Group during the 4th quarter valued at $20,685,000. Geode Capital Management LLC boosted its position in Brightsphere Investment Group by 24.4% during the 4th quarter. Geode Capital Management LLC now owns 371,174 shares of the company’s stock valued at $3,963,000 after acquiring an additional 72,901 shares in the last quarter. Amalgamated Bank bought a new stake in Brightsphere Investment Group during the 4th quarter valued at $126,000. FMR LLC boosted its position in Brightsphere Investment Group by 32.8% during the 4th quarter. FMR LLC now owns 10,623,076 shares of the company’s stock valued at $113,455,000 after acquiring an additional 2,625,467 shares in the last quarter. Finally, Stevens Capital Management LP bought a new stake in Brightsphere Investment Group during the 1st quarter valued at $173,000. Institutional investors own 0.13% 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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