Wedge Capital Management L L P NC trimmed its holdings in shares of Brightsphere Investment Group PLC (NYSE:BSIG) by 36.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,534 shares of the company’s stock after selling 6,068 shares during the period. Wedge Capital Management L L P NC’s holdings in Brightsphere Investment Group were worth $104,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of BSIG. Nuveen Asset Management LLC acquired a new stake in shares of Brightsphere Investment Group during the second quarter worth $20,420,000. JPMorgan Chase & Co. raised its holdings in shares of 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 during the period. Citadel Advisors LLC raised its holdings in shares of Brightsphere Investment Group by 57.6% during the second quarter. Citadel Advisors LLC now owns 1,549,660 shares of the company’s stock worth $17,681,000 after purchasing an additional 566,370 shares during the period. Maverick Capital Ltd. acquired a new stake in shares of Brightsphere Investment Group during the second quarter worth $4,730,000. Finally, LSV Asset Management raised its holdings in shares of Brightsphere Investment Group by 85.4% during the second quarter. LSV Asset Management now owns 799,559 shares of the company’s stock worth $9,122,000 after purchasing an additional 368,254 shares during the period. 1.98% of the stock is currently owned by institutional investors.
A number of brokerages have weighed in on BSIG. Credit Suisse Group reissued a “buy” rating and set a $16.00 target price on shares of Brightsphere Investment Group in a report on Wednesday, September 11th. Zacks Investment Research raised shares of Brightsphere Investment Group from a “sell” rating to a “hold” rating in a report on Thursday. Wells Fargo & Co reaffirmed a “buy” rating on shares of Brightsphere Investment Group in a report on Tuesday, November 5th. Finally, Morgan Stanley dropped their price objective on shares of Brightsphere Investment Group from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $14.25.
Shares of BSIG stock traded up $0.06 during trading hours on Friday, reaching $10.16. The stock had a trading volume of 347,532 shares, compared to its average volume of 600,573. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.63 and a quick ratio of 0.63. Brightsphere Investment Group PLC has a twelve month low of $8.40 and a twelve month high of $14.87. The firm has a 50-day simple moving average of $9.73 and a 200-day simple moving average of $10.76. The firm has a market capitalization of $910.03 million, a PE ratio of 5.46, a price-to-earnings-growth ratio of 1.26 and a beta of 1.84.
Brightsphere Investment Group (NYSE:BSIG) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 firm had revenue of $197.80 million during the quarter, compared to analyst estimates of $205.68 million. During the same period last year, the business earned $0.46 EPS. The firm’s revenue was down 14.0% on a year-over-year basis. On average, equities analysts anticipate that Brightsphere Investment Group PLC will post 1.73 earnings per share for the current year.
Brightsphere Investment Group 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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