BrightSphere Investment Group (NYSE:BSIG) Upgraded by StockNews.com to Buy Rating

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

A number of other equities research analysts have also issued reports on BSIG. Royal Bank of Canada increased their price target on BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Morgan Stanley cut BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $23.00 to $26.00 in a report on Friday, October 18th. Finally, Evercore ISI increased their price objective on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, BrightSphere Investment Group has an average rating of “Hold” and an average target price of $29.00.

BrightSphere Investment Group Price Performance

Shares of BrightSphere Investment Group stock opened at $30.15 on Tuesday. BrightSphere Investment Group has a 1 year low of $16.01 and a 1 year high of $30.49. The firm’s 50-day moving average is $25.74 and its 200 day moving average is $24.01. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 18.27 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last announced its earnings results on Thursday, October 31st. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.07. The business had revenue of $123.10 million for the quarter, compared to analysts’ expectations of $114.95 million. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. During the same period last year, the firm posted $0.45 earnings per share. On average, equities analysts expect that BrightSphere Investment Group will post 2.59 EPS for the current fiscal year.

BrightSphere Investment Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.13%. BrightSphere Investment Group’s dividend payout ratio is currently 2.42%.

Hedge Funds Weigh In On BrightSphere Investment Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC grew its stake in BrightSphere Investment Group by 25.3% during the 3rd quarter. Jennison Associates LLC now owns 968,936 shares of the company’s stock worth $24,611,000 after buying an additional 195,417 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of BrightSphere Investment Group by 297.9% during the second 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 last quarter. Marshall Wace LLP purchased a new stake in shares of BrightSphere Investment Group during the second quarter worth about $1,870,000. Maverick Capital Ltd. acquired a new position in shares of BrightSphere Investment Group during the second quarter valued at about $1,204,000. Finally, Impax Asset Management Group plc raised its position in shares of BrightSphere Investment Group by 4.8% in the 3rd quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock valued at $27,910,000 after purchasing an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 98.69% of the company’s stock.

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.