Brokerages Set BrightSphere Investment Group Inc. (NYSE:BSIG) Target Price at $30.00

BrightSphere Investment Group Inc. (NYSE:BSIG) has received a consensus recommendation of “Reduce” from the four analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $30.75.

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

BrightSphere Investment Group Stock Performance

NYSE:BSIG opened at $30.29 on Tuesday. 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 has a one year low of $18.09 and a one year high of $31.52. The business’s 50-day simple moving average is $28.41 and its 200 day simple moving average is $25.22.

BrightSphere Investment Group (NYSE:BSIG) last released its earnings results on Thursday, October 31st. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.52 by $0.07. The company had revenue of $123.10 million during 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 in the prior year, the business posted $0.45 EPS. On average, equities research analysts predict that BrightSphere Investment Group will post 2.59 EPS for the current year.

BrightSphere Investment Group Dividend Announcement

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 issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Friday, December 13th. BrightSphere Investment Group’s payout ratio is 2.42%.

Hedge Funds Weigh In On BrightSphere Investment Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gladius Capital Management LP acquired a new stake in shares of BrightSphere Investment Group in the second quarter worth $32,000. Blue Trust Inc. boosted its position in BrightSphere Investment Group by 2,397.6% during the 3rd quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock worth $79,000 after acquiring an additional 2,997 shares during the period. Point72 Asset Management L.P. purchased a new position in BrightSphere Investment Group during the 3rd quarter valued at about $89,000. Quest Partners LLC acquired a new position in shares of BrightSphere Investment Group in the 2nd quarter valued at about $147,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of BrightSphere Investment Group by 67.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock worth $195,000 after purchasing an additional 3,561 shares in the last quarter. Institutional investors and hedge funds own 98.69% of the company’s stock.

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.