Zacks Investment Research upgraded shares of Brightsphere Investment Group (NYSE:BSIG) from a sell rating to a hold rating in a research report report published on Thursday 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. “

A number of other brokerages also recently commented on BSIG. Credit Suisse Group restated a buy rating and issued a $16.00 target price on shares of Brightsphere Investment Group in a research note on Wednesday, September 11th. Morgan Stanley lowered their target price on Brightsphere Investment Group from $12.00 to $11.00 and set an equal weight rating on the stock in a research note on Friday, August 2nd. Finally, Wells Fargo & Co restated a buy rating on shares of Brightsphere Investment Group in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Brightsphere Investment Group has an average rating of Hold and a consensus target price of $14.25.

Shares of BSIG traded up $0.06 during mid-day trading on Thursday, reaching $10.16. The company had a trading volume of 347,532 shares, compared to its average volume of 600,573. Brightsphere Investment Group has a 52-week low of $8.40 and a 52-week high of $14.87. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 3.62. The stock has a market capitalization of $910.03 million, a P/E ratio of 5.46, a PEG ratio of 1.26 and a beta of 1.84. The stock has a 50 day moving average of $9.73 and a two-hundred day moving average of $10.76.

Brightsphere Investment Group (NYSE:BSIG) last issued its earnings results on Tuesday, November 5th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Brightsphere Investment Group had a return on equity of 228.89% and a net margin of 21.67%. The company had revenue of $197.80 million during the quarter, compared to analysts’ expectations of $205.68 million. During the same quarter in the previous year, the company earned $0.46 EPS. The firm’s quarterly revenue was down 14.0% compared to the same quarter last year. On average, sell-side analysts expect that Brightsphere Investment Group will post 1.73 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in Brightsphere Investment Group by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 254,832 shares of the company’s stock worth $2,908,000 after purchasing an additional 6,160 shares in the last quarter. Algert Global LLC purchased a new position in Brightsphere Investment Group during the second quarter worth approximately $388,000. JPMorgan Chase & Co. boosted its position in Brightsphere Investment Group by 174.3% during the second quarter. JPMorgan Chase & Co. now owns 2,603,882 shares of the company’s stock worth $28,929,000 after purchasing an additional 1,654,493 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC purchased a new position in Brightsphere Investment Group during the second quarter worth approximately $1,042,000. Finally, Nisa Investment Advisors LLC purchased a new position in Brightsphere Investment Group during the second quarter worth approximately $57,000. Institutional investors own 1.98% 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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