BrightSphere Investment Group Inc. (NYSE:BSIG) Given Consensus Rating of “Hold” by Brokerages

BrightSphere Investment Group Inc. (NYSE:BSIGGet Rating) has earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $27.00.

Separately, Morgan Stanley decreased their target price on BrightSphere Investment Group from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Friday, July 29th.

Hedge Funds Weigh In On BrightSphere Investment Group

Several hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP boosted its holdings in BrightSphere Investment Group by 6.0% in the second quarter. Royce & Associates LP now owns 276,164 shares of the company’s stock valued at $4,974,000 after acquiring an additional 15,640 shares during the last quarter. Sciencast Management LP acquired a new position in BrightSphere Investment Group in the second quarter valued at about $263,000. SG Americas Securities LLC acquired a new position in BrightSphere Investment Group in the second quarter valued at about $339,000. Assenagon Asset Management S.A. acquired a new position in BrightSphere Investment Group in the second quarter valued at about $1,667,000. Finally, KBC Group NV acquired a new position in BrightSphere Investment Group in the second quarter valued at about $53,000. Institutional investors own 98.74% of the company’s stock.

BrightSphere Investment Group Price Performance

Shares of NYSE:BSIG opened at $18.84 on Friday. The business’s fifty day moving average price is $18.87 and its two-hundred day moving average price is $21.52. BrightSphere Investment Group has a fifty-two week low of $16.62 and a fifty-two week high of $31.17. The stock has a market capitalization of $780.35 million, a price-to-earnings ratio of 4.20 and a beta of 1.56.

BrightSphere Investment Group (NYSE:BSIGGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). BrightSphere Investment Group had a net margin of 65.73% and a return on equity of 46.17%. During the same period in the prior year, the firm earned $0.40 earnings per share. Research analysts expect that BrightSphere Investment Group will post 1.91 EPS for the current fiscal year.

BrightSphere Investment Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend is Thursday, September 15th. BrightSphere Investment Group’s dividend payout ratio is 0.89%.

About BrightSphere Investment Group

(Get Rating)

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.

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