BrightSphere Investment Group (NYSE:BSIG) Now Covered by StockNews.com

StockNews.com started coverage on shares of BrightSphere Investment Group (NYSE:BSIG) in a research note issued to investors on Saturday morning. The firm issued a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. Morgan Stanley dropped their price objective on BrightSphere Investment Group from $26.00 to $25.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Evercore ISI increased their price target on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. BMO Capital Markets reaffirmed a “sector perform” rating and issued a $33.00 price objective (up previously from $30.00) on shares of BrightSphere Investment Group in a research note on Tuesday, December 10th. Finally, Royal Bank of Canada downgraded shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $30.00 to $33.00 in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $30.50.

BrightSphere Investment Group Stock Performance

BrightSphere Investment Group has a fifty-two week low of $18.09 and a fifty-two week high of $31.52. The stock has a market cap of $982.96 million, a PE ratio of 15.96 and a beta of 1.45. The firm’s 50 day moving average is $29.00 and its two-hundred day moving average is $25.74.

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

BrightSphere Investment Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of ∞. The ex-dividend date of this dividend was Friday, December 13th. BrightSphere Investment Group’s payout ratio is 2.42%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in shares of BrightSphere Investment Group in the second quarter valued at about $147,000. American Century Companies Inc. grew its holdings in BrightSphere Investment Group by 5.6% in the 2nd quarter. American Century Companies Inc. now owns 50,729 shares of the company’s stock valued at $1,125,000 after buying an additional 2,693 shares during the last quarter. Dimensional Fund Advisors LP increased its position in BrightSphere Investment Group by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,126,772 shares of the company’s stock worth $24,980,000 after buying an additional 4,399 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of BrightSphere Investment Group by 297.9% during the second quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock worth $3,414,000 after buying an additional 115,300 shares during the last quarter. Finally, Denali Advisors LLC boosted its position in shares of BrightSphere Investment Group by 1.9% in the second quarter. Denali Advisors LLC now owns 160,000 shares of the company’s stock valued at $3,547,000 after acquiring an additional 2,909 shares during the period. 98.69% of the stock is currently owned by institutional investors and hedge funds.

BrightSphere Investment Group Company Profile

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.