BrightSphere Investment Group (NYSE:BSIG) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of BrightSphere Investment Group (NYSE:BSIG) from a hold rating to a buy rating in a research report report published on Friday morning.

BSIG has been the subject of several other research reports. Morgan Stanley downgraded 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 note on Friday, October 18th. Royal Bank of Canada upped their price target on BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday.

BrightSphere Investment Group Stock Down 0.1 %

Shares of BSIG stock opened at $27.39 on Friday. BrightSphere Investment Group has a 12 month low of $15.79 and a 12 month high of $27.59. The company has a market cap of $1.02 billion, a PE ratio of 16.60 and a beta of 1.41. The business’s 50 day moving average is $25.07 and its two-hundred day moving average is $23.74.

BrightSphere Investment Group (NYSE:BSIG) last announced its earnings results on Thursday, October 31st. The company reported $0.59 EPS for the quarter, topping 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 firm had revenue of $123.10 million for the quarter, compared to the consensus estimate of $114.95 million. During the same quarter last year, the firm posted $0.45 EPS. As a group, equities analysts expect that BrightSphere Investment Group will post 2.4 EPS for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

The company also recently announced 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend is Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio (DPR) is presently 2.42%.

Institutional Trading of BrightSphere Investment Group

Institutional investors and hedge funds have recently modified their holdings of the company. Jennison Associates LLC lifted its position in BrightSphere Investment Group by 29.4% in the first 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 lifted its holdings in shares of BrightSphere Investment Group by 297.9% during the 2nd quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock worth $3,414,000 after acquiring an additional 115,300 shares during the period. Marshall Wace LLP acquired a new stake in shares of BrightSphere Investment Group during the 2nd quarter valued at about $1,870,000. Susquehanna Fundamental Investments LLC bought a new stake in BrightSphere Investment Group in the first quarter valued at about $1,292,000. Finally, Maverick Capital Ltd. acquired a new position in BrightSphere Investment Group in the second quarter worth about $1,204,000. 98.69% of the stock is currently 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.