BrightSphere Investment Group (NYSE:BSIG) PT Raised to $28.00

BrightSphere Investment Group (NYSE:BSIG) 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.

BrightSphere Investment Group Trading Up 6.2 %

Shares of BSIG opened at $26.04 on Friday. The business’s fifty day simple moving average is $23.90 and its two-hundred day simple moving average is $23.31. The company has a market cap of $983.37 million, a price-to-earnings ratio of 15.88 and a beta of 1.41. BrightSphere Investment Group has a 12 month low of $15.23 and a 12 month high of $26.57.

BrightSphere Investment Group (NYSE:BSIG) 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.