Morgan Stanley set a $12.00 price objective on Brightsphere Investment Group (NYSE:BSIG) in a report published on Friday. The firm currently has a hold rating on the stock.

Several other equities research analysts have also issued reports on BSIG. Citigroup reduced their price target on Brightsphere Investment Group from $17.50 to $16.50 and set a buy rating for the company in a report on Friday, November 2nd. Zacks Investment Research upgraded Brightsphere Investment Group from a hold rating to a buy rating and set a $14.00 price target for the company in a report on Friday, November 16th. Finally, Keefe, Bruyette & Woods lowered Brightsphere Investment Group from an outperform rating to a market perform rating and reduced their price target for the company from $15.25 to $13.00 in a report on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $15.75.

Shares of Brightsphere Investment Group stock opened at $13.36 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. Brightsphere Investment Group has a 52-week low of $10.04 and a 52-week high of $16.34.

Brightsphere Investment Group (NYSE:BSIG) last announced its quarterly earnings results on Thursday, February 7th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.05. The business had revenue of $214.50 million during the quarter, compared to analyst estimates of $212.23 million. Brightsphere Investment Group had a return on equity of 141.96% and a net margin of 14.69%. Brightsphere Investment Group’s quarterly revenue was down 13.9% on a year-over-year basis. As a group, sell-side analysts forecast that Brightsphere Investment Group will post 1.63 EPS for the current year.

In related news, major shareholder Hna Eagle Holdco Llc sold 4,598,566 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $12.80, for a total value of $58,861,644.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of BSIG. Point72 Asset Management L.P. lifted its holdings in Brightsphere Investment Group by 383.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,091,824 shares of the company’s stock worth $25,939,000 after purchasing an additional 1,658,877 shares during the last quarter. TIAA CREF Investment Management LLC acquired a new stake in Brightsphere Investment Group in the 3rd quarter worth approximately $15,822,000. Teachers Advisors LLC acquired a new stake in Brightsphere Investment Group in the 3rd quarter worth approximately $9,099,000. Citadel Advisors LLC lifted its holdings in Brightsphere Investment Group by 47.7% in the 3rd quarter. Citadel Advisors LLC now owns 1,662,371 shares of the company’s stock worth $20,614,000 after purchasing an additional 536,958 shares during the last quarter. Finally, Velanne Asset Management Ltd acquired a new stake in Brightsphere Investment Group in the 4th quarter worth approximately $5,390,000. Hedge funds and other institutional investors own 0.03% 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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Analyst Recommendations for Brightsphere Investment Group (NYSE:BSIG)

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