Analysts Set BrightSphere Investment Group Inc. (NYSE:BSIG) Target Price at $29.57

BrightSphere Investment Group Inc. (NYSE:BSIG) has earned a consensus recommendation of “Buy” from the eight brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $29.57.

BSIG has been the subject of several analyst reports. Zacks Investment Research upgraded BrightSphere Investment Group from a “strong sell” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Tuesday, November 2nd. Morgan Stanley increased their price objective on BrightSphere Investment Group from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, July 30th. Royal Bank of Canada increased their price objective on BrightSphere Investment Group from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, November 1st. TheStreet upgraded BrightSphere Investment Group from a “c” rating to a “b” rating in a report on Thursday, July 29th. Finally, Keefe, Bruyette & Woods lowered BrightSphere Investment Group from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $31.00 to $32.00 in a report on Friday, October 29th.

Shares of NYSE BSIG opened at $30.46 on Monday. The stock has a market capitalization of $2.43 billion, a PE ratio of 2.55 and a beta of 1.70. The stock’s fifty day simple moving average is $28.02 and its two-hundred day simple moving average is $25.70. BrightSphere Investment Group has a 12-month low of $17.45 and a 12-month high of $30.88.

BrightSphere Investment Group (NYSE:BSIG) last announced its earnings results on Wednesday, October 27th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). BrightSphere Investment Group had a net margin of 175.91% and a return on equity of 17.87%. During the same period in the prior year, the firm posted $0.47 EPS. As a group, analysts forecast that BrightSphere Investment Group will post 1.41 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 30th. Investors of record on Friday, December 17th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 16th. This represents a $0.04 dividend on an annualized basis and a yield of 0.13%. BrightSphere Investment Group’s dividend payout ratio (DPR) is 0.34%.

Hedge funds have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of BrightSphere Investment Group by 13.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 190,100 shares of the company’s stock valued at $4,454,000 after buying an additional 23,000 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of BrightSphere Investment Group by 34.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 257,620 shares of the company’s stock valued at $6,036,000 after buying an additional 65,343 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of BrightSphere Investment Group by 49.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 31,334 shares of the company’s stock valued at $734,000 after buying an additional 10,332 shares during the last quarter. Quantinno Capital Management LP purchased a new position in shares of BrightSphere Investment Group during the 2nd quarter valued at about $200,000. Finally, Metropolitan Life Insurance Co NY raised its stake in shares of BrightSphere Investment Group by 102,316.7% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 18,435 shares of the company’s stock valued at $432,000 after buying an additional 18,417 shares during the last quarter. Institutional investors own 98.87% of the company’s stock.

BrightSphere Investment Group Company Profile

BrightSphere Investment Group, Inc is a holding company, which engages in the provision of asset management services. It also focuses on the development of new business opportunities in domestic and international markets. The firm operates through the following segments: Quant & Solutions, Alternatives and Liquid Alpha.

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Analyst Recommendations for BrightSphere Investment Group (NYSE:BSIG)

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