Brokerages Set Brightsphere Investment Group PLC (BSIG) Price Target at $19.80

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Shares of Brightsphere Investment Group PLC (NYSE:BSIG) have earned a consensus recommendation of “Buy” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $19.80.

A number of equities research analysts have commented on BSIG shares. Zacks Investment Research raised Brightsphere Investment Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 11th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $19.00 price target on shares of Brightsphere Investment Group in a research note on Friday, July 13th. Finally, Morgan Stanley cut their price target on Brightsphere Investment Group from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, July 12th.

Brightsphere Investment Group stock traded down $0.06 during midday trading on Wednesday, reaching $11.94. The company’s stock had a trading volume of 353,368 shares. Brightsphere Investment Group has a fifty-two week low of $11.88 and a fifty-two week high of $18.62. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.02 and a quick ratio of 1.02.

Brightsphere Investment Group (NYSE:BSIG) last released its earnings results on Thursday, August 2nd. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. Brightsphere Investment Group had a return on equity of 138.53% and a net margin of 3.06%. The company had revenue of $233.90 million during the quarter, compared to the consensus estimate of $236.00 million. During the same quarter last year, the company earned $0.42 earnings per share. Brightsphere Investment Group’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts expect that Brightsphere Investment Group will post 1.86 earnings per share for the current fiscal year.

The company also recently declared a dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 13th. Brightsphere Investment Group’s dividend payout ratio (DPR) is presently 11.11%.

Several large investors have recently added to or reduced their stakes in BSIG. BlackRock Inc. acquired a new position in shares of Brightsphere Investment Group during the 1st quarter worth $65,788,000. Millennium Management LLC purchased a new stake in Brightsphere Investment Group during the 1st quarter worth about $41,182,000. Dimensional Fund Advisors LP purchased a new stake in Brightsphere Investment Group during the 1st quarter worth about $24,949,000. Allianz Asset Management GmbH purchased a new stake in Brightsphere Investment Group during the 1st quarter worth about $15,881,000. Finally, Citadel Advisors LLC increased its position in Brightsphere Investment Group by 712.5% during the 2nd quarter. Citadel Advisors LLC now owns 1,125,413 shares of the company’s stock worth $16,048,000 after purchasing an additional 986,904 shares in the last quarter. 1.34% of the stock is owned by institutional investors and hedge funds.

About Brightsphere Investment Group

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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