Brightsphere Investment Group (BSIG) Cut to “Neutral” at Citigroup

Brightsphere Investment Group (NYSE:BSIG) was downgraded by research analysts at Citigroup from a “buy” rating to a “neutral” rating in a report released on Monday, MarketBeat reports.

Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Brightsphere Investment Group from a “buy” rating to a “sell” rating in a research note on Tuesday, January 8th. Keefe, Bruyette & Woods cut shares of Brightsphere Investment Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $15.25 to $13.00 in a research note on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $16.50.

Brightsphere Investment Group stock opened at $11.27 on Monday. 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 $18.62.

Brightsphere Investment Group (NYSE:BSIG) last released its earnings results on Thursday, November 1st. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The firm had revenue of $230.10 million for the quarter, compared to analysts’ expectations of $227.95 million. Brightsphere Investment Group had a net margin of 6.71% and a return on equity of 135.80%. Brightsphere Investment Group’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company earned $0.43 EPS. Sell-side analysts forecast that Brightsphere Investment Group will post 1.83 earnings per share for the current fiscal year.

In other news, major shareholder Hna Eagle Holdco Llc sold 4,598,566 shares of Brightsphere Investment Group stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $12.80, for a total value of $58,861,644.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.61% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc boosted its stake in Brightsphere Investment Group by 0.6% during the third quarter. Vanguard Group Inc now owns 757,407 shares of the company’s stock worth $9,392,000 after buying an additional 4,395 shares in the last quarter. Clearbridge Investments LLC purchased a new position in shares of Brightsphere Investment Group during the 3rd quarter valued at $5,920,000. Vanguard Group Inc. lifted its position in shares of Brightsphere Investment Group by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 757,407 shares of the company’s stock valued at $9,392,000 after buying an additional 4,395 shares during the last quarter. Nordea Investment Management AB purchased a new position in shares of Brightsphere Investment Group during the 3rd quarter valued at $4,488,000. Finally, TIAA CREF Investment Management LLC purchased a new position in shares of Brightsphere Investment Group during the 3rd quarter valued at $15,822,000. 0.03% of the stock is currently owned by institutional investors.

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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