BrightSphere Investment Group (NYSE:BSIG) Upgraded by Zacks Investment Research to “Hold”
According to Zacks, “BrightSphere Investment Group plc is a diversified multi-boutique asset management company. The Company focuses on equities and fixed income portfolios, as well as investments in timber and real estate sectors. BrightSphere Investment Group plc, formerly known as OM Asset Management plc, is based in London, United Kingdom. “
A number of other equities analysts also recently commented on BSIG. Morgan Stanley lifted their target price on shares of BrightSphere Investment Group from $15.50 to $21.00 and gave the stock an equal weight rating in a research note on Monday, January 11th. Credit Suisse Group reduced their target price on shares of BrightSphere Investment Group from $28.00 to $27.00 and set an outperform rating on the stock in a research note on Friday, February 5th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. BrightSphere Investment Group has an average rating of Hold and an average price target of $20.50.
BrightSphere Investment Group (NYSE:BSIG) last posted its quarterly earnings results on Wednesday, February 3rd. The company reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.04. BrightSphere Investment Group had a net margin of 20.95% and a return on equity of 80.30%. The firm had revenue of $178.80 million for the quarter. As a group, analysts expect that BrightSphere Investment Group will post 1.72 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 26th. Shareholders of record on Friday, March 12th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Thursday, March 11th. BrightSphere Investment Group’s dividend payout ratio is presently 2.26%.
In other BrightSphere Investment Group news, insider Richard Jonathan Hart sold 2,679 shares of BrightSphere Investment Group stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $20.41, for a total transaction of $54,678.39. 25.80% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the stock. Azora Capital LP grew its holdings in shares of BrightSphere Investment Group by 151.2% in the fourth quarter. Azora Capital LP now owns 2,134,548 shares of the company’s stock valued at $41,154,000 after purchasing an additional 1,284,893 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in BrightSphere Investment Group by 84.6% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,729,951 shares of the company’s stock worth $22,317,000 after acquiring an additional 792,917 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in BrightSphere Investment Group by 39.6% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,544,296 shares of the company’s stock worth $29,775,000 after acquiring an additional 438,380 shares in the last quarter. Norges Bank acquired a new position in BrightSphere Investment Group during the 4th quarter worth approximately $20,274,000. Finally, Morgan Stanley grew its holdings in BrightSphere Investment Group by 320.2% during the 4th quarter. Morgan Stanley now owns 911,479 shares of the company’s stock worth $17,573,000 after acquiring an additional 694,555 shares in the last quarter. Hedge funds and other institutional investors own 99.22% of the company’s stock.
About BrightSphere Investment Group
BrightSphere Investment Group Inc 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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