BrightSphere Investment Group Inc. (NYSE:BSIG) Given Consensus Recommendation of “Reduce” by Analysts

Shares of BrightSphere Investment Group Inc. (NYSE:BSIG) have been assigned an average recommendation of “Reduce” from the four ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and three have issued a hold rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $30.50.

Several equities research analysts have recently weighed in on the company. BMO Capital Markets reissued a “sector perform” rating and issued a $33.00 price target (up previously from $30.00) on shares of BrightSphere Investment Group in a research note on Tuesday, December 10th. Evercore ISI raised 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. Morgan Stanley reduced their price objective on shares of BrightSphere Investment Group from $26.00 to $25.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. 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, Royal Bank of Canada downgraded BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $30.00 to $33.00 in a report on Tuesday, December 10th.

Hedge Funds Weigh In On BrightSphere Investment Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Azora Capital LP raised its stake in BrightSphere Investment Group by 10.7% during the 3rd quarter. Azora Capital LP now owns 2,028,358 shares of the company’s stock worth $51,520,000 after buying an additional 195,728 shares during the period. Jennison Associates LLC lifted its holdings in shares of BrightSphere Investment Group by 25.3% in the 3rd quarter. Jennison Associates LLC now owns 968,936 shares of the company’s stock worth $24,611,000 after purchasing an additional 195,417 shares in the last quarter. Renaissance Technologies LLC grew its position in BrightSphere Investment Group by 297.9% in the 2nd quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock valued at $3,414,000 after purchasing an additional 115,300 shares during the period. Marshall Wace LLP bought a new stake in BrightSphere Investment Group during the 2nd quarter valued at $1,870,000. Finally, Maverick Capital Ltd. acquired a new position in BrightSphere Investment Group during the second quarter worth $1,204,000. Institutional investors own 98.69% of the company’s stock.

BrightSphere Investment Group Price Performance

The firm has a 50-day moving average price of $29.00 and a 200 day moving average price of $25.74. The firm has a market capitalization of $982.96 million, a P/E ratio of 15.96 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.

BrightSphere Investment Group (NYSE:BSIG) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.59 earnings per share (EPS) 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 firm had revenue of $123.10 million during the quarter, compared to the consensus estimate of $114.95 million. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, equities research analysts predict that BrightSphere Investment Group will post 2.59 EPS for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of ?. The ex-dividend date was Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio (DPR) is currently 2.42%.

BrightSphere Investment Group Company Profile

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.