BrightSphere Investment Group (NYSE:BSIG) Upgraded at StockNews.com

StockNews.com upgraded shares of BrightSphere Investment Group (NYSE:BSIG) from a hold rating to a buy rating in a report issued on Tuesday morning.

A number of other equities analysts have also issued reports on BSIG. Royal Bank of Canada increased their price objective on BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Morgan Stanley lowered shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and increased their target price for the company from $23.00 to $26.00 in a research note on Friday, October 18th. Finally, Evercore ISI lifted 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 report on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $29.00.

BrightSphere Investment Group Trading Up 0.3 %

Shares of NYSE BSIG opened at $29.75 on Tuesday. The business has a 50 day simple moving average of $25.98 and a 200-day simple moving average of $24.09. BrightSphere Investment Group has a twelve month low of $17.05 and a twelve month high of $30.49. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 17.98 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last issued its earnings results on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $123.10 million for the quarter, compared to analysts’ expectations of $114.95 million. BrightSphere Investment Group had a net margin of 13.92% and a return on equity of 7,606.72%. During the same period in the prior year, the company earned $0.45 earnings per share. As a group, equities analysts predict that BrightSphere Investment Group will post 2.59 earnings per share for the current year.

BrightSphere Investment Group Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Azora Capital LP grew its position in BrightSphere Investment Group by 10.7% during the third quarter. Azora Capital LP now owns 2,028,358 shares of the company’s stock valued at $51,520,000 after purchasing an additional 195,728 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of BrightSphere Investment Group during the 3rd quarter valued at $311,000. PDT Partners LLC increased its stake in shares of BrightSphere Investment Group by 13.0% in the third quarter. PDT Partners LLC now owns 47,166 shares of the company’s stock worth $1,198,000 after acquiring an additional 5,418 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of BrightSphere Investment Group in the third quarter worth $213,000. Finally, Jennison Associates LLC raised its holdings in shares of BrightSphere Investment Group by 25.3% during the third quarter. Jennison Associates LLC now owns 968,936 shares of the company’s stock worth $24,611,000 after acquiring an additional 195,417 shares in the last quarter. Hedge funds and other institutional investors own 98.69% of the company’s stock.

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.