BrightSphere Investment Group (NYSE:BSIG) Stock Rating Lowered by Royal Bank of Canada

Royal Bank of Canada cut shares of BrightSphere Investment Group (NYSE:BSIG) from an outperform rating to a sector perform rating in a research note published on Tuesday, Marketbeat.com reports. Royal Bank of Canada currently has $33.00 price objective on the stock, up from their previous price objective of $30.00.

A number of other research firms also recently weighed in on BSIG. 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 note on Thursday, November 7th. StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley cut shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $23.00 to $26.00 in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.75.

BrightSphere Investment Group Price Performance

NYSE:BSIG opened at $30.29 on Tuesday. The stock has a market cap of $1.13 billion, a P/E ratio of 18.36 and a beta of 1.45. The company has a fifty day moving average price of $28.41 and a 200 day moving average price of $25.22. BrightSphere Investment Group has a one year low of $18.09 and a one year high of $31.52.

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. BrightSphere Investment Group had a net margin of 13.92% and a return on equity of 7,606.72%. The business had revenue of $123.10 million during the quarter, compared to analysts’ expectations of $114.95 million. During the same quarter last year, the company earned $0.45 earnings per share. As a group, equities research analysts anticipate that BrightSphere Investment Group will post 2.59 EPS 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 issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Friday, December 13th. BrightSphere Investment Group’s payout ratio is 2.42%.

Hedge Funds Weigh In On BrightSphere Investment Group

Several institutional investors have recently added to or reduced their stakes in BSIG. DGS Capital Management LLC grew its stake in BrightSphere Investment Group by 2.6% during the third quarter. DGS Capital Management LLC now owns 25,153 shares of the company’s stock worth $639,000 after buying an additional 646 shares during the last quarter. Optimist Retirement Group LLC bought a new stake in BrightSphere Investment Group during the 3rd quarter worth approximately $238,000. Barclays PLC increased its holdings in BrightSphere Investment Group by 180.9% during the 3rd quarter. Barclays PLC now owns 66,754 shares of the company’s stock valued at $1,695,000 after purchasing an additional 42,989 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in BrightSphere Investment Group during the 3rd quarter valued at $458,000. Finally, Weiss Asset Management LP bought a new position in BrightSphere Investment Group in the 3rd quarter valued at $477,000. 98.69% of the stock is owned by institutional investors.

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.