BrightSphere Investment Group (NYSE:BSIG) Cut to Sector Perform at Royal Bank of Canada

Royal Bank of Canada lowered shares of BrightSphere Investment Group (NYSE:BSIG) from an outperform rating to a sector perform rating in a research report released on Tuesday morning, Marketbeat.com reports. They currently have $33.00 target price on the stock, up from their previous target price of $30.00.

Several other research analysts have also weighed in on the company. Morgan Stanley lowered BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and upped their price target for the company from $23.00 to $26.00 in a research report on Friday, October 18th. Evercore ISI upped their target price on BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.75.

BrightSphere Investment Group Price Performance

Shares of BSIG opened at $30.29 on Tuesday. BrightSphere Investment Group has a one year low of $18.09 and a one year high of $31.52. The company has a 50-day moving average of $28.41 and a two-hundred day moving average of $25.22. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 18.36 and a beta of 1.45.

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

BrightSphere Investment Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $0.01 dividend. The ex-dividend date is Friday, December 13th. 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 currently 2.42%.

Hedge Funds Weigh In On BrightSphere Investment Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BSIG. DGS Capital Management LLC increased its holdings in shares of BrightSphere Investment Group by 2.6% during the 3rd quarter. DGS Capital Management LLC now owns 25,153 shares of the company’s stock valued at $639,000 after acquiring an additional 646 shares during the last quarter. Creative Planning boosted its position in BrightSphere Investment Group by 7.6% during the second quarter. Creative Planning now owns 17,553 shares of the company’s stock worth $389,000 after purchasing an additional 1,235 shares during the period. Gladius Capital Management LP acquired a new position in BrightSphere Investment Group during the second quarter valued at approximately $32,000. Assenagon Asset Management S.A. raised its position in shares of BrightSphere Investment Group by 3.4% in the third quarter. Assenagon Asset Management S.A. now owns 55,574 shares of the company’s stock valued at $1,412,000 after purchasing an additional 1,805 shares during the period. Finally, New York State Teachers Retirement System lifted its stake in shares of BrightSphere Investment Group by 24.3% in the third quarter. New York State Teachers Retirement System now owns 13,132 shares of the company’s stock worth $334,000 after buying an additional 2,565 shares during the last quarter. 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.