BrightSphere Investment Group (NYSE:BSIG) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of BrightSphere Investment Group (NYSE:BSIG) in a research note published on Sunday. The firm issued a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Evercore ISI increased their price objective on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. BMO Capital Markets restated a “sector perform” rating and set a $33.00 price target (up from $30.00) on shares of BrightSphere Investment Group in a research note on Tuesday, December 10th. Royal Bank of Canada cut BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $30.00 to $33.00 in a research note on Tuesday, December 10th. Finally, Morgan Stanley decreased their target price on 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BrightSphere Investment Group has a consensus rating of “Hold” and an average price target of $30.50.

BrightSphere Investment Group Price Performance

BrightSphere Investment Group has a 1 year low of $18.09 and a 1 year high of $31.52. The company has a 50 day simple moving average of $29.00 and a two-hundred day simple moving average of $25.74. The stock has a market capitalization of $982.96 million, a P/E ratio of 15.96 and a beta of 1.45.

BrightSphere Investment Group (NYSE:BSIG) last issued its quarterly earnings data 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. The firm had revenue of $123.10 million for the quarter, compared to analyst estimates of $114.95 million. BrightSphere Investment Group had a net margin of 13.92% and a return on equity of 7,606.72%. During the same period in the previous year, the firm earned $0.45 EPS. Equities analysts expect that BrightSphere Investment Group will post 2.59 EPS for the current year.

BrightSphere Investment Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of ?. The ex-dividend date was Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio is currently 2.42%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its holdings in BrightSphere Investment Group by 297.9% in the second quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock valued at $3,414,000 after acquiring an additional 115,300 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in shares of BrightSphere Investment Group in the 2nd quarter valued at $1,204,000. Barclays PLC raised its holdings in shares of BrightSphere Investment Group by 180.9% in the 3rd quarter. Barclays PLC now owns 66,754 shares of the company’s stock valued at $1,695,000 after purchasing an additional 42,989 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of BrightSphere Investment Group during the 3rd quarter worth $213,000. Finally, Impax Asset Management Group plc grew its stake in shares of BrightSphere Investment Group by 4.8% during the third quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock worth $27,910,000 after purchasing an additional 50,000 shares in the last quarter. 98.69% of the stock is currently owned by hedge funds and other institutional investors.

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.