Brightsphere Investment Group (NYSE:BSIG) had its price target reduced by equities researchers at Citigroup from $18.50 to $16.50 in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 29.21% from the stock’s previous close.

Separately, Zacks Investment Research raised shares of Brightsphere Investment Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 11th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $18.21.

Shares of BSIG traded up $0.22 during mid-day trading on Wednesday, reaching $12.77. The stock had a trading volume of 2,416 shares. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Brightsphere Investment Group has a 52-week low of $11.15 and a 52-week high of $18.62.

Brightsphere Investment Group (NYSE:BSIG) last announced its quarterly earnings data on Thursday, November 1st. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.01. Brightsphere Investment Group had a net margin of 6.71% and a return on equity of 147.71%. The firm had revenue of $230.10 million during the quarter, compared to analyst estimates of $227.95 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. Brightsphere Investment Group’s quarterly revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts anticipate that Brightsphere Investment Group will post 1.87 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. increased its stake in shares of Brightsphere Investment Group by 383.2% during the third quarter. Point72 Asset Management L.P. now owns 2,091,824 shares of the company’s stock worth $25,939,000 after buying an additional 1,658,877 shares during the period. TIAA CREF Investment Management LLC purchased a new position in Brightsphere Investment Group in the third quarter valued at approximately $15,822,000. Citadel Advisors LLC increased its stake in Brightsphere Investment Group by 712.5% in the second quarter. Citadel Advisors LLC now owns 1,125,413 shares of the company’s stock valued at $16,048,000 after purchasing an additional 986,904 shares during the last quarter. Teachers Advisors LLC purchased a new position in Brightsphere Investment Group in the third quarter valued at approximately $9,099,000. Finally, Jennison Associates LLC increased its stake in Brightsphere Investment Group by 21.2% in the second quarter. Jennison Associates LLC now owns 4,158,138 shares of the company’s stock valued at $59,295,000 after purchasing an additional 726,469 shares during the last quarter. 1.34% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Brightsphere Investment Group (NYSE:BSIG)

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