Investment group

BrightSphere Investment Group (NYSE:BSIG) Hits New 1-Year Low After Analysts Downgrade


Shares of BrightSphere Investment Group Inc. (NYSE:BSIG – Get Rating) hit a new 52-week low in Thursday’s midday session after Morgan Stanley lowered its price target on the stock from 25.00 $ to $20.00. Morgan Stanley currently has an equal weight rating on the stock. BrightSphere Investment Group traded as low as $17.67 and last traded at $17.70, with a volume of 2692 shares traded. The stock previously closed at $18.57.

Separately, StockNews.com began covering BrightSphere Investment Group in a Thursday, March 31 report. They issued a “holding” rating for the company. Four analysts have rated the stock with a hold rating and one has issued a buy rating for the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $27.50.

Several hedge funds have recently bought and sold BSIG shares. Wellington Management Group LLP acquired a new stake in shares of BrightSphere Investment Group in the third quarter worth approximately $1,571,000. UBS Asset Management Americas Inc. increased its stake in shares of BrightSphere Investment Group by 30.8% during the third quarter. UBS Asset Management Americas Inc. now owns 76,704 shares of the company worth $2,004,000 after purchasing an additional 18,081 shares in the last quarter. Sciencast Management LP purchased a new stake in shares of BrightSphere Investment Group during the fourth quarter for a value of approximately $1,632,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of BrightSphere Investment Group during the fourth quarter for a value of approximately $975,000. Finally, Harvest Investment Services LLC increased its stake in shares of BrightSphere Investment Group by 53.6% during the fourth quarter. Harvest Investment Services LLC now owns 34,565 shares of the company worth $884,000 after purchasing an additional 12,062 shares in the last quarter. 98.74% of the shares are held by institutional investors and hedge funds.

The company has a 50-day moving average price of $19.86 and a 200-day moving average price of $22.40. The company has a market capitalization of $746.06 million, a PE ratio of 1.76 and a beta of 1.65.

BrightSphere Investment Group (NYSE:BSIG – Get Rating) last released its quarterly results on Thursday, May 5. The company reported EPS of $0.52 for the quarter, beating the consensus estimate of $0.44 by $0.08. BrightSphere Investment Group achieved a return on equity of 26.02% and a net margin of 156.79%. The company posted revenue of $112.20 million in the quarter, compared to $106.14 million expected by analysts. Equity research analysts expect BrightSphere Investment Group Inc. to post EPS of 2.4 for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 24. Shareholders of record on Friday, June 10 received a dividend of $0.01. This represents an annualized dividend of $0.04 and a yield of 0.22%. The ex-dividend date was Thursday, June 9. BrightSphere Investment Group’s payout ratio is 0.39%.

BrightSphere Investment Group Company Profile (NYSE:BSIG)

BrightSphere Investment Group Inc is a public asset management holding company. The firm offers its services to individuals and institutions. It manages separate client-focused portfolios through its subsidiaries. The company also launches equity mutual funds for its clients. It invests in public equities, fixed income securities and alternative investment markets through its subsidiaries.

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