BrightSphere Investment Group Inc. (NYSE:BSIG) Receives $30.00 Consensus PT from Analysts

BrightSphere Investment Group Inc. (NYSE:BSIG) has been assigned a consensus recommendation of “Reduce” from the four ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $30.75.

Several equities analysts recently weighed in on the company. StockNews.com upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Royal Bank of Canada cut BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $30.00 to $33.00 in a research report on Tuesday, December 10th. Morgan Stanley lowered 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 report on Friday, October 18th. Evercore ISI boosted 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 report on Thursday, November 7th. Finally, BMO Capital Markets reaffirmed a “sector perform” rating and set a $33.00 price objective (up from $30.00) on shares of BrightSphere Investment Group in a report on Tuesday, December 10th.

Hedge Funds Weigh In On BrightSphere Investment Group

Several hedge funds and other institutional investors have recently modified their holdings of BSIG. Price T Rowe Associates Inc. MD acquired a new stake in shares of BrightSphere Investment Group in the first quarter valued at approximately $214,000. Assenagon Asset Management S.A. raised its holdings in shares of BrightSphere Investment Group by 17.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 53,769 shares of the company’s stock worth $1,192,000 after acquiring an additional 7,810 shares during the period. Gladius Capital Management LP acquired a new position in shares of BrightSphere Investment Group during the 2nd quarter valued at about $32,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of BrightSphere Investment Group by 67.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock valued at $195,000 after purchasing an additional 3,561 shares during the period. Finally, Quest Partners LLC acquired a new stake in BrightSphere Investment Group during the second quarter worth about $147,000. 98.69% of the stock is owned by hedge funds and other institutional investors.

BrightSphere Investment Group Stock Down 0.5 %

Shares of BSIG opened at $30.12 on Tuesday. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 18.25 and a beta of 1.45. BrightSphere Investment Group has a 52 week low of $18.09 and a 52 week high of $31.52. The stock’s 50-day moving average price is $28.53 and its 200-day moving average price is $25.29.

BrightSphere Investment Group (NYSE:BSIG) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. The business had revenue of $123.10 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $0.45 EPS. As a group, equities analysts anticipate that BrightSphere Investment Group will post 2.59 EPS for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

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

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.