Brightsphere Investment Group (NYSE:BSIG) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Brightsphere Investment Group (NYSE:BSIG) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

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. “

Several other analysts have also recently issued reports on the stock. Citigroup cut shares of Apergy from a buy rating to a neutral rating and decreased their target price for the company from $41.00 to $34.00 in a research report on Tuesday, July 9th. Bank of America set a $144.00 target price on shares of Walt Disney and gave the company a buy rating in a research report on Friday, April 12th. Finally, Royal Bank of Canada set a $60.00 target price on shares of Masonite International and gave the company a buy rating in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $14.30.

Shares of NYSE BSIG opened at $11.54 on Wednesday. The firm’s 50-day simple moving average is $11.25. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.63 and a current ratio of 0.63. Brightsphere Investment Group has a 12-month low of $10.04 and a 12-month high of $14.87.

Brightsphere Investment Group (NYSE:BSIG) last announced its earnings results on Thursday, May 2nd. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. The firm had revenue of $205.70 million for the quarter, compared to analysts’ expectations of $203.30 million. Brightsphere Investment Group had a net margin of 14.88% and a return on equity of 187.25%. The business’s revenue was down 17.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS. As a group, sell-side analysts expect that Brightsphere Investment Group will post 1.83 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.40 annualized dividend and a yield of 3.47%.

A number of large investors have recently modified their holdings of the stock. California Public Employees Retirement System grew its position in Brightsphere Investment Group by 248.3% in the 4th quarter. California Public Employees Retirement System now owns 139,714 shares of the company’s stock worth $1,492,000 after purchasing an additional 99,600 shares during the period. Bank of New York Mellon Corp grew its position in Brightsphere Investment Group by 1.1% in the 4th quarter. Bank of New York Mellon Corp now owns 248,697 shares of the company’s stock worth $2,657,000 after purchasing an additional 2,817 shares during the period. Dimensional Fund Advisors LP grew its position in Brightsphere Investment Group by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,939,701 shares of the company’s stock worth $20,716,000 after purchasing an additional 118,443 shares during the period. Geode Capital Management LLC grew its position in Brightsphere Investment Group by 24.4% in the 4th quarter. Geode Capital Management LLC now owns 371,174 shares of the company’s stock worth $3,963,000 after purchasing an additional 72,901 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in shares of Brightsphere Investment Group by 133.5% during the 4th quarter. Lord Abbett & CO. LLC now owns 2,267,855 shares of the company’s stock valued at $24,221,000 after acquiring an additional 1,296,560 shares during the period. Institutional investors own 0.11% 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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