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BrightSphere Investment (BSIG) - 2024 Q3 - Quarterly Results
2024-10-31 11:46
Contact: Investor Relations ir@bsig.com (617) 369-7300 Exhibit 99.1 BrightSphere Reports Financial and Operating Results for the Third Quarter Ended September 30, . U.S. GAAP earnings per share of $0.45 for the quarter, compared to $0.46 for Q3'23 U.S. GAAP net income attributable to controlling interests of $16.9 million for the quarter, compared to $19.6 million f . ENI earnings per share of $0.59 for the quarter, compared to $0.45 for Q3'23 . AUM of $120.3 billion at September 30, 2024, compared to $112. ...
3 Reasons Why Growth Investors Shouldn't Overlook BrightSphere Investment Group (BSIG)
ZACKS· 2024-10-25 17:46
Core Viewpoint - Investors are increasingly seeking growth stocks that demonstrate above-average growth potential, with BrightSphere Investment Group (BSIG) being highlighted as a strong candidate due to its favorable growth metrics and Zacks Rank [1][5]. Earnings Growth - BrightSphere Investment Group has a historical EPS growth rate of 1.5%, but projected EPS growth for this year is expected to be 34.8%, significantly outperforming the industry average of 12.9% [3]. Asset Utilization Ratio - The asset utilization ratio for BrightSphere Investment Group is 0.81, indicating that the company generates $0.81 in sales for every dollar in assets, which is substantially higher than the industry average of 0.22. Additionally, the company's sales are projected to grow by 14.6% this year, compared to the industry average of 0.9% [4]. Earnings Estimate Revisions - There has been a positive trend in earnings estimate revisions for BrightSphere Investment Group, with the Zacks Consensus Estimate for the current year increasing by 3.9% over the past month, indicating strong near-term stock price potential [5]. Overall Assessment - BrightSphere Investment Group has achieved a Growth Score of B and holds a Zacks Rank 1 (Strong Buy), suggesting it is a solid choice for growth investors due to its strong earnings growth, efficient asset utilization, and positive earnings estimate revisions [5].
Is the Options Market Predicting a Spike in BrightSphere (BSIG) Stock?
ZACKS· 2024-09-19 13:10
Investors in BrightSphere Investment Group Inc. (BSIG) need to pay close attention to the stock based on moves in the options market lately. That is because the Oct 18, 2024 $22.50 Put had some of the highest implied volatility of all equity options today. What is Implied Volatility? Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the o ...
New Analysts Initiate Coverage: 3 Stock to Watch
ZACKS· 2024-08-13 13:50
Group 1 - The initiation of coverage by analysts can significantly benefit investors and influence financial markets, as analysts provide critical insights into a company's financial health and industry trends [1] - Stocks like Compania de Minas Buenaventura S.A.A. (BVN), BrightSphere Investment Group Inc. (BSIG), and ServisFirst Bancshares, Inc. (SFBS) have recently gained attention from analysts, indicating potential investment opportunities [2] - New analyst coverage often leads to gradual upward price movements for stocks, with positive recommendations resulting in more substantial price reactions compared to negative ones [3] Group 2 - Investors tend to pay more attention to stocks with new analyst recommendations, which can prompt portfolio managers to build positions based on fresh insights [4] - It is advisable to consider the average change in broker recommendations rather than focusing on a single recommendation change, as multiple upgrades and increased coverage are significant indicators of a stock's potential [5] - A prudent investment strategy should focus on the number of analyst recommendations that have increased recently, providing insights into overall sentiment and potential stock trajectory [6] Group 3 - Screening criteria for identifying promising stocks include having a greater number of broker ratings than four weeks ago and an average broker rating that is better than four weeks ago [7] - Additional screening parameters include a stock price of at least $5 and an average daily volume of at least 100,000 shares to attract investor interest [8] Group 4 - Compania de Minas Buenaventura S.A.A. (BVN) has seen an 83.4% share price increase over the past year, outperforming the industry average of 34.3% [9] - BrightSphere Investment Group Inc. (BSIG) shares have gained 12.3% over the past year, with EPS estimates rising to $2.31 for 2024, reflecting analysts' optimism [10] - ServisFirst Bancshares, Inc. (SFBS) shares have increased by 21.4% over the past year, contrasting with a 5.4% decline in the industry [11]
BrightSphere Investment (BSIG) - 2024 Q2 - Quarterly Report
2024-08-08 12:05
[PART I — FINANCIAL INFORMATION](index=3&type=section&id=Part%20I%20Financial%20Information) This section presents the company's unaudited condensed consolidated financial statements and management's discussion and analysis [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents BrightSphere's unaudited condensed consolidated financial statements and notes for Q2 2024 and FY2023 [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets%20as%20of%20June%2030%2C%202024%20and%20December%2031%2C%202023) The balance sheets show a decrease in total assets and a shift to an equity deficit as of June 30, 2024 Condensed Consolidated Balance Sheet Summary (in millions) | Metric | June 30, 2024 | December 31, 2023 | |:---|:---|:---| | Total assets | $533.1 | $611.4 | | Total liabilities | $551.9 | $561.9 | | Total equity (deficit) and redeemable non-controlling interests in consolidated Funds | $(18.8) | $49.5 | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20for%20the%20three%20and%20six%20months%20ended%20June%2030%2C%202024%20and%202023) Total revenue increased for both periods; net income attributable to controlling interests rose for six months Condensed Consolidated Statements of Operations Summary (in millions, except per share data) | Metric | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | |:---|:---|:---|:---|:---| | Total revenue | $109.0 | $96.3 | $214.7 | $188.1 | | Operating income | $20.6 | $20.4 | $43.5 | $40.2 | | Net income attributable to controlling interests | $11.0 | $11.4 | $25.6 | $23.4 | | Earnings per share (basic) | $0.29 | $0.27 | $0.67 | $0.56 | | Earnings per share (diluted) | $0.29 | $0.27 | $0.66 | $0.55 | [Condensed Consolidated Statements of Comprehensive Income](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20for%20the%20three%20and%20six%20months%20ended%20June%2030%2C%202024%20and%202023) Total comprehensive income attributable to controlling interests decreased for the quarter, increased for six months Condensed Consolidated Statements of Comprehensive Income Summary (in millions) | Metric | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | |:---|:---|:---|:---|:---| | Net income | $11.5 | $11.5 | $27.2 | $23.5 | | Total other comprehensive income | $0.8 | $1.4 | $1.3 | $2.7 | | Total comprehensive income attributable to controlling interests | $11.8 | $12.8 | $26.9 | $26.1 | [Condensed Consolidated Statements of Changes in Stockholders' Equity (Three Months)](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity%20for%20the%20three%20months%20ended%20June%2030%2C%202024%20and%202023) Stockholders' equity for Q2 2024 was significantly impacted by common stock repurchases and a net deficit Changes in Stockholders' Equity (Three Months Ended June 30, 2024) (in millions) | Metric | Amount | |:---|:---| | Repurchases of common stock including excise taxes | $(20.7) | | Net income | $11.0 | | Dividends ($0.01 per share) | $(0.4) | | Total stockholders' equity (deficit) at June 30, 2024 | $(30.8) | [Condensed Consolidated Statements of Changes in Stockholders' Equity (Six Months)](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity%20for%20the%20six%20months%20ended%20June%2030%2C%202024%20and%202023) Stockholders' equity for H1 2024 was primarily affected by substantial common stock repurchases Changes in Stockholders' Equity (Six Months Ended June 30, 2024) (in millions) | Metric | Amount | |:---|:---| | Repurchases of common stock including excise taxes | $(95.7) | | Net income | $25.6 | | Dividends ($0.02 per share) | $(0.8) | | Total stockholders' equity (deficit) at June 30, 2024 | $(30.8) | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20for%20the%20six%20months%20ended%20June%2030%2C%202024%20and%202023) Operating cash decreased; financing activities shifted to net outflow from share repurchases Net Cash Flows (Six Months Ended June 30, in millions) | Activity | 2024 | 2023 | |:---|:---|:---| | Operating activities | $5.4 | $7.3 | | Investing activities | $(18.8) | $(10.7) | | Financing activities | $(61.7) | $35.7 | | Net increase (decrease) in cash and cash equivalents | $(74.2) | $31.7 | [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) These notes provide essential details and explanations supporting the condensed consolidated financial statements [1) Organization and Description of the Business](index=10&type=section&id=1%29%20Organization%20and%20Description%20of%20the%20Business) BrightSphere operates as a global asset manager through its Quant & Solutions segment, with a profit-sharing model - BrightSphere Investment Group Inc. (BSIG) is a global, diversified asset management company, providing investment management services primarily to institutional investors through its majority-owned subsidiary, Acadian Asset Management LLC (Acadian)[18](index=18&type=chunk) - The company utilizes a profit-sharing model with Acadian, aligning economic interests between BSIG and Acadian key employees, which is crucial for talent management and long-term growth[19](index=19&type=chunk) Common Stock Repurchases (Six Months Ended June 30, 2024) | Metric | Value | |:---|:---| | Shares repurchased | 4,445,534 | | Average price per share | $21.32 | | Total cost (including commissions) | $94.9 million | [2) Basis of Presentation and Significant Accounting Policies](index=11&type=section&id=2%29%20Basis%20of%20Presentation%20and%20Significant%20Accounting%20Policies) Financial statements are unaudited, prepared under U.S. GAAP, and the company is evaluating new FASB ASUs - The Condensed Consolidated Financial Statements are prepared in accordance with U.S. GAAP and are unaudited, reflecting management's necessary estimates and assumptions[22](index=22&type=chunk)[24](index=24&type=chunk) - The company is evaluating new FASB ASUs: 2023-07 (Segment Reporting) and 2023-09 (Income Tax Disclosures), which are expected to result in additional disclosures[25](index=25&type=chunk)[26](index=26&type=chunk) - ASU 2024-01 (Stock Compensation) is not anticipated to have a material impact[27](index=27&type=chunk) [3) Investments](index=12&type=section&id=3%29%20Investments) Total investments increased to **$121.1 million** as of June 30, 2024, driven by consolidated Funds Total Investments (in millions) | Category | June 30, 2024 | December 31, 2023 | |:---|:---|:---| | Investments of consolidated Funds | $53.2 | $33.9 | | Other investments | $20.8 | $20.0 | | Investments related to long-term incentive compensation plans | $47.1 | $44.7 | | **Total investments** | **$121.1** | **$98.6** | [4) Fair Value Measurements](index=13&type=section&id=4%29%20Fair%20Value%20Measurements) Fair value assets increased to **$121.1 million**, mostly Level I or II; unconsolidated Funds valued by NAV Total Fair Value Assets and Liabilities (in millions) | Category | June 30, 2024 | December 31, 2023 | |:---|:---|:---| | Total fair value assets | $121
BrightSphere Investment (BSIG) - 2024 Q2 - Earnings Call Transcript
2024-08-02 00:41
BrightSphere Investment Group Inc. (NYSE:BSIG) Q2 2024 Earnings Conference Call August 1, 2024 11:00 AM ET Company Participants Melody Huang - Senior Vice President, Director of Finance and Investor Relations Suren Rana - President and Chief Executive Officer Conference Call Participants Michael Cyprys - Morgan Stanley Kenneth Lee - RBC Capital Markets John Dunn - Evercore ISI Operator Welcome to the BrightSphere Investment Group Earnings Conference Call and Webcast for the Second Quarter 2024. During the c ...
BrightSphere Investment (BSIG) - 2024 Q2 - Earnings Call Presentation
2024-08-01 23:42
Contact: Investor Relations ir@bsig.com (617) 369-7300 Exhibit 99.1 BrightSphere Reports Financial and Operating Results for the Second Quarter Ended June 30, 2024 • U.S. GAAP earnings per share of $0.29 for the quarter, compared to $0.27 for Q2'23 • U.S. GAAP net income attributable to controlling interests of $11.0 million for the quarter, compared to $11.4 million for Q2'23 • ENI earnings per share of $0.45 for the quarter, compared to $0.28 for Q2'23 • AUM of $112.6 billion at June 30, 2024 compared to ...
BrightSphere Investment Group (BSIG) Tops Q2 Earnings and Revenue Estimates
ZACKS· 2024-08-01 13:47
BrightSphere Investment Group (BSIG) came out with quarterly earnings of $0.45 per share, beating the Zacks Consensus Estimate of $0.43 per share. This compares to earnings of $0.28 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 4.65%. A quarter ago, it was expected that this asset manager would post earnings of $0.34 per share when it actually produced earnings of $0.44, delivering a surprise of 29.41%. Over the last four q ...
BrightSphere Investment (BSIG) - 2024 Q2 - Quarterly Results
2024-08-01 11:37
Contact: Investor Relations ir@bsig.com (617) 369-7300 Exhibit 99.1 BrightSphere Reports Financial and Operating Results for the Second Quarter Ended June 30, 2( . . . . . U.S. GAAP earnings per share of $0.29 for the quarter, compared to $0.27 for Q2'23 U.S. GAAP net income attributable to controlling interests of $11.0 million for the quarter, compared to $11.4 million f ENI earnings per share of $0.45 for the quarter, compared to $0.28 for Q2'23 AUM of $112.6 billion at June 30, 2024 compared to $110.4 b ...
BrightSphere Investment Group (BSIG) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
ZACKS· 2024-07-25 15:07
Zacks Consensus Estimate Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. Estimate Revisions Trend Estimate revisions ahead of a company's earnings release ...