BrightSphere Investment Group (NYSE:BSIG – Free Report) had its price objective increased by Royal Bank of Canada from $26.00 to $28.00 in a research report report published on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.
Separately, StockNews.com cut BrightSphere Investment Group from a buy rating to a hold rating in a report on Monday, July 22nd.
Check Out Our Latest Stock Report on BrightSphere Investment Group
BrightSphere Investment Group Trading Up 6.2 %
BrightSphere Investment Group (NYSE:BSIG – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. The firm had revenue of $109.00 million for the quarter, compared to analysts’ expectations of $104.72 million. BrightSphere Investment Group had a return on equity of 871.33% and a net margin of 15.00%. During the same period in the prior year, the firm earned $0.28 EPS. As a group, research analysts forecast that BrightSphere Investment Group will post 2.31 EPS for the current year.
BrightSphere Investment Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.01 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.15%. BrightSphere Investment Group’s dividend payout ratio is currently 2.44%.
Hedge Funds Weigh In On BrightSphere Investment Group
A number of institutional investors have recently bought and sold shares of BSIG. Jennison Associates LLC raised its holdings in BrightSphere Investment Group by 29.4% in the 1st quarter. Jennison Associates LLC now owns 759,391 shares of the company’s stock worth $17,344,000 after purchasing an additional 172,318 shares during the period. Renaissance Technologies LLC raised its holdings in BrightSphere Investment Group by 297.9% in the 2nd quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock worth $3,414,000 after purchasing an additional 115,300 shares during the period. Marshall Wace LLP bought a new position in BrightSphere Investment Group in the 2nd quarter worth $1,870,000. Denali Advisors LLC raised its holdings in BrightSphere Investment Group by 99.5% in the 1st quarter. Denali Advisors LLC now owns 157,091 shares of the company’s stock worth $3,588,000 after purchasing an additional 78,347 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in BrightSphere Investment Group in the 1st quarter worth $1,292,000. 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.
Recommended Stories
- Five stocks we like better than BrightSphere Investment Group
- The 3 Best Fintech Stocks to Buy Now
- Why Fastenal Stock Could Hit New Highs After Strong Q3 Results
- Insider Trades May Not Tell You What You Think
- Why Eli Lilly Stock Is Soaring—and How It Plans to Stay on Top
- Are Penny Stocks a Good Fit for Your Portfolio?
- 3 Mid-Cap Stocks Under $20 With Insider Buying and Major Upside
Receive News & Ratings for BrightSphere Investment Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BrightSphere Investment Group and related companies with MarketBeat.com's FREE daily email newsletter.