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

BrightSphere Investment Group Inc. (NYSE:BSIG) has been assigned an average rating of “Reduce” from the four research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $30.75.

A number of analysts recently weighed in on the stock. Royal Bank of Canada lowered shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $30.00 to $33.00 in a research note on Tuesday, December 10th. StockNews.com raised BrightSphere Investment Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Morgan Stanley cut BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $23.00 to $26.00 in a research report on Friday, October 18th. Evercore ISI raised 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 report on Thursday, November 7th. Finally, BMO Capital Markets reaffirmed a “sector perform” rating and issued a $33.00 target price (up from $30.00) on shares of BrightSphere Investment Group in a research report on Tuesday, December 10th.

Institutional Investors Weigh In On BrightSphere Investment Group

Large investors have recently modified their holdings of the stock. Azora Capital LP lifted its stake in shares of BrightSphere Investment Group by 10.7% in the 3rd quarter. Azora Capital LP now owns 2,028,358 shares of the company’s stock worth $51,520,000 after acquiring an additional 195,728 shares during the period. Dimensional Fund Advisors LP increased its stake in BrightSphere Investment Group by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,126,772 shares of the company’s stock worth $24,980,000 after buying an additional 4,399 shares during the period. Impax Asset Management Group plc lifted its stake in shares of BrightSphere Investment Group by 4.8% in the third quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock worth $27,910,000 after acquiring an additional 50,000 shares in the last quarter. Jennison Associates LLC raised its position 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 valued at $24,611,000 after purchasing an additional 195,417 shares in the last quarter. Finally, Denali Advisors LLC raised its position in shares of BrightSphere Investment Group by 1.9% during the 2nd quarter. Denali Advisors LLC now owns 160,000 shares of the company’s stock worth $3,547,000 after purchasing an additional 2,909 shares during the period. Hedge funds and other institutional investors own 98.69% of the company’s stock.

BrightSphere Investment Group Price Performance

Shares of BrightSphere Investment Group stock opened at $30.27 on Tuesday. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 18.35 and a beta of 1.45. The business has a 50-day moving average of $28.67 and a 200 day moving average of $25.36. BrightSphere Investment Group has a 12 month low of $18.09 and a 12 month high of $31.52.

BrightSphere Investment Group (NYSE:BSIG) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.59 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 business had revenue of $123.10 million during the quarter, compared to analyst estimates of $114.95 million. During the same quarter last year, the firm posted $0.45 earnings per share. Equities research analysts anticipate that BrightSphere Investment Group will post 2.59 earnings per share for the current year.

BrightSphere Investment Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.13%. BrightSphere Investment Group’s payout ratio is 2.42%.

About BrightSphere Investment Group

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.