BrightSphere Investment Group’s (BSIG) Sector Perform Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets reaffirmed their sector perform rating on shares of BrightSphere Investment Group (NYSE:BSIG) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $33.00 price objective on the stock, up from their prior price objective of $30.00.

BSIG has been the topic of several other reports. StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Morgan Stanley cut BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $23.00 to $26.00 in a research note on Friday, October 18th. Evercore ISI upped their price target on BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada lowered BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $30.00 to $33.00 in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $30.75.

BrightSphere Investment Group Price Performance

BSIG stock opened at $30.39 on Tuesday. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 18.42 and a beta of 1.45. The business has a fifty day moving average price of $28.13 and a 200 day moving average price of $25.14. BrightSphere Investment Group has a fifty-two week low of $18.09 and a fifty-two week high of $31.52.

BrightSphere Investment Group (NYSE:BSIG) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The business had revenue of $123.10 million during the quarter, compared to analysts’ expectations of $114.95 million. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. During the same period in the previous year, the business posted $0.45 earnings per share. On average, equities analysts expect that BrightSphere Investment Group will post 2.59 earnings per share for the current fiscal year.

BrightSphere Investment Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.01 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.13%. BrightSphere Investment Group’s dividend payout ratio is 2.42%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Gladius Capital Management LP bought a new position in shares of BrightSphere Investment Group during the second quarter worth $32,000. Blue Trust Inc. lifted its holdings in BrightSphere Investment Group by 2,397.6% during the third quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock worth $79,000 after acquiring an additional 2,997 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in BrightSphere Investment Group in the third quarter valued at about $89,000. Quest Partners LLC bought a new stake in shares of BrightSphere Investment Group in the second quarter worth about $147,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of BrightSphere Investment Group by 67.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock worth $195,000 after purchasing an additional 3,561 shares during the period. Institutional investors and hedge funds own 98.69% of the company’s stock.

About BrightSphere Investment Group

BrightSphere Investment Group Inc 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.