Shares of BrightSphere Investment Group Inc. (NYSE:BSIG) have earned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $23.60.
Several research firms recently commented on BSIG. Bank of America raised shares of BrightSphere Investment Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $22.00 to $27.00 in a report on Thursday, April 15th. 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 report on Friday, February 5th. Zacks Investment Research raised shares of BrightSphere Investment Group from a “sell” rating to a “hold” rating in a report on Wednesday, April 7th. Finally, Morgan Stanley cut their price target on shares of BrightSphere Investment Group from $30.00 to $29.00 and set an “overweight” rating on the stock in a report on Friday, April 30th.
In other 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. Insiders own 25.80% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new position in BrightSphere Investment Group during the 4th quarter valued at about $20,274,000. SG Americas Securities LLC purchased a new position in BrightSphere Investment Group during the 4th quarter valued at about $104,000. Rhumbline Advisers lifted its position in BrightSphere Investment Group by 0.8% during the 4th quarter. Rhumbline Advisers now owns 175,602 shares of the company’s stock valued at $3,386,000 after acquiring an additional 1,461 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in BrightSphere Investment Group by 32.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 23,900 shares of the company’s stock valued at $308,000 after acquiring an additional 5,861 shares during the period. Finally, Trexquant Investment LP purchased a new position in BrightSphere Investment Group during the 4th quarter valued at about $198,000. 99.22% of the stock is currently owned by hedge funds and other institutional investors.
BSIG stock opened at $22.62 on Thursday. BrightSphere Investment Group has a 52 week low of $7.09 and a 52 week high of $24.01. The firm’s fifty day moving average is $21.61 and its 200 day moving average is $19.32. The firm has a market cap of $1.80 billion, a P/E ratio of 12.16, a P/E/G ratio of 3.23 and a beta of 1.86.
BrightSphere Investment Group (NYSE:BSIG) last released its earnings results on Thursday, April 29th. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). BrightSphere Investment Group had a net margin of 20.95% and a return on equity of 80.30%. As a group, equities analysts predict that BrightSphere Investment Group will post 1.72 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 25th. Stockholders of record on Friday, June 11th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend is Thursday, June 10th. BrightSphere Investment Group’s payout ratio is 2.26%.
BrightSphere Investment Group Company Profile
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.
Read More: Hold Rating
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: Penny Stocks
By the time you read this Vladimir Tenev, the CEO of the trading app Robinhood, will be testifying in front of Congress. The company’s role in the GameStop (NYSE:GME) short squeeze will be called into question.
However, the real issue at stake is the right of traders to buy and sell the equities of their choice. In the case of Robinhood, some traders are buying a lot of penny stocks. While definitions vary, penny stocks are generally considered stocks that are trading for less than $10 per share. These stocks are largely ignored by the investment community.
One reason is that many of these stocks are cheap for a reason. For example, the company may have a business model that is out of date. In other cases, they operate in a very small, niche market that doesn’t drive a lot of revenue.
And most of these stocks are ignored by the investment community. They simply aren’t considered significant enough to spend time debating.
But some penny stocks do have the attention of Wall Street. And they’re being largely ignored by the day trading community. The focus of this special presentation is to direct you to penny stocks that have a story that the “smart money” thinks will eventually be trading at much higher prices.
And that’s why you should be looking at them now.