Brightsphere Investment Group (NYSE:BSIG) Trading Down 8.5%

Brightsphere Investment Group PLC (NYSE:BSIG)’s stock price fell 8.5% during trading on Wednesday . The company traded as low as $5.54 and last traded at $5.81, 781,987 shares were traded during mid-day trading. An increase of 35% from the average session volume of 577,337 shares. The stock had previously closed at $6.35.

A number of research firms have commented on BSIG. Wells Fargo & Co restated a “hold” rating on shares of Brightsphere Investment Group in a research report on Monday, March 16th. Keefe, Bruyette & Woods downgraded Brightsphere Investment Group from an “outperform” rating to a “market perform” rating and set a $7.25 target price on the stock. in a research report on Monday. Morgan Stanley downgraded Brightsphere Investment Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday. Royal Bank of Canada restated a “buy” rating and issued a $13.00 target price on shares of Brightsphere Investment Group in a research report on Sunday, February 9th. Finally, Bank of America cut their price objective on Brightsphere Investment Group from $7.00 to $4.00 and set an “underperform” rating on the stock in a report on Monday, March 23rd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Brightsphere Investment Group has an average rating of “Hold” and a consensus price target of $10.42.

The stock has a market cap of $512.21 million, a PE ratio of 2.34, a P/E/G ratio of 0.47 and a beta of 1.65. The company has a fifty day moving average of $7.35 and a 200-day moving average of $9.21.

Brightsphere Investment Group (NYSE:BSIG) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.06. Brightsphere Investment Group had a return on equity of 1,914.29% and a net margin of 27.32%. The company had revenue of $207.40 million for the quarter. On average, equities research analysts expect that Brightsphere Investment Group PLC will post 1.7 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, March 12th. This represents a $0.40 annualized dividend and a yield of 6.88%. Brightsphere Investment Group’s dividend payout ratio (DPR) is 22.60%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in Brightsphere Investment Group during the 4th quarter worth about $18,255,000. CI Investments Inc. increased its holdings in Brightsphere Investment Group by 4.1% during the 4th quarter. CI Investments Inc. now owns 1,640,973 shares of the company’s stock worth $16,771,000 after purchasing an additional 65,100 shares during the period. State Street Corp increased its holdings in Brightsphere Investment Group by 1.3% during the 4th quarter. State Street Corp now owns 1,535,425 shares of the company’s stock worth $15,692,000 after purchasing an additional 19,940 shares during the period. Prudential Financial Inc. increased its holdings in Brightsphere Investment Group by 11.2% during the 4th quarter. Prudential Financial Inc. now owns 1,160,880 shares of the company’s stock worth $11,864,000 after purchasing an additional 117,146 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in shares of Brightsphere Investment Group by 6.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,115,255 shares of the company’s stock worth $11,398,000 after acquiring an additional 64,980 shares in the last quarter. Institutional investors own 97.56% of the company’s stock.

About Brightsphere Investment Group (NYSE:BSIG)

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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