BrightSphere Investment Group (NYSE:BSIG) Earns “Sector Perform” Rating from BMO Capital Markets

BMO Capital Markets reaffirmed their sector perform rating on shares of BrightSphere Investment Group (NYSE:BSIG) in a research note published on Tuesday,Benzinga reports. The firm currently has a $33.00 price target on the stock, up from their previous price target of $30.00.

A number of other research firms also recently commented on BSIG. Evercore ISI upped their target price 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. Morgan Stanley cut BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $23.00 to $26.00 in a report on Friday, October 18th. StockNews.com raised BrightSphere Investment Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada lowered BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $30.00 to $33.00 in a report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.75.

BrightSphere Investment Group Stock Down 1.6 %

NYSE BSIG opened at $30.29 on Tuesday. BrightSphere Investment Group has a 52-week low of $18.09 and a 52-week high of $31.52. The firm has a 50-day moving average price of $28.41 and a 200 day moving average price of $25.22. The stock has a market capitalization of $1.13 billion, a P/E ratio of 18.36 and a beta of 1.45.

BrightSphere Investment Group (NYSE:BSIG) last announced its quarterly earnings data 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. 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 analyst estimates of $114.95 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. On average, equities research analysts expect that BrightSphere Investment Group will post 2.59 earnings per share for the current fiscal year.

BrightSphere Investment Group Announces Dividend

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

Institutional Investors Weigh In On BrightSphere Investment Group

A number of large investors have recently bought and sold shares of BSIG. Gladius Capital Management LP purchased a new stake in shares of BrightSphere Investment Group in the second quarter valued at $32,000. Blue Trust Inc. raised its stake in BrightSphere Investment Group by 2,397.6% in the 3rd quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock valued at $79,000 after purchasing an additional 2,997 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in BrightSphere Investment Group in the 3rd quarter valued at about $89,000. Quest Partners LLC purchased a new position in BrightSphere Investment Group in the 2nd quarter valued at about $147,000. Finally, Verition Fund Management LLC acquired a new stake in shares of BrightSphere Investment Group during the 3rd quarter worth about $213,000. 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.