BrightSphere Investment Group (NYSE:BSIG) Rating Increased to Buy 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.

Several other equities research analysts have also recently issued reports on the company. Royal Bank of Canada lifted their target price 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 cut BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $23.00 to $26.00 in a report on Friday, October 18th. Finally, Evercore ISI lifted their target price on BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $29.00.

BrightSphere Investment Group Price Performance

BSIG stock opened at $29.59 on Tuesday. The company has a market cap of $1.10 billion, a P/E ratio of 17.93 and a beta of 1.41. BrightSphere Investment Group has a 1 year low of $17.05 and a 1 year high of $30.49. The stock’s fifty day moving average price is $26.11 and its 200-day moving average price is $24.14.

BrightSphere Investment Group (NYSE:BSIG) last released its earnings results on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. The company had revenue of $123.10 million for the quarter, compared to the consensus estimate 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 earned $0.45 earnings per share. As a group, analysts expect that BrightSphere Investment Group will post 2.59 earnings per share for the current year.

BrightSphere Investment Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend is Friday, December 13th. BrightSphere Investment Group’s payout ratio is presently 2.42%.

Hedge Funds Weigh In On BrightSphere Investment Group

A number of large investors have recently made changes to their positions in the business. Gladius Capital Management LP acquired a new position in shares of BrightSphere Investment Group in the 2nd quarter valued at $32,000. Blue Trust Inc. grew its position in BrightSphere Investment Group by 2,397.6% during the 3rd quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock worth $79,000 after purchasing an additional 2,997 shares during the period. Point72 Asset Management L.P. acquired a new stake in BrightSphere Investment Group during the 3rd quarter worth about $89,000. Quest Partners LLC acquired a new stake in BrightSphere Investment Group during the 2nd quarter worth about $147,000. Finally, Verition Fund Management LLC acquired a new stake in BrightSphere Investment Group during the 3rd quarter worth about $213,000. 98.69% of the stock is owned by institutional investors and hedge funds.

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.