BrightSphere Investment Group’s (BSIG) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of BrightSphere Investment Group (NYSE:BSIGFree Report) in a report published on Friday, Benzinga reports. Royal Bank of Canada currently has a $24.00 price target on the stock.

BSIG has been the subject of several other reports. TheStreet upgraded BrightSphere Investment Group from a d+ rating to a c- rating in a research report on Thursday, January 25th. StockNews.com initiated coverage on BrightSphere Investment Group in a research report on Thursday, October 5th. They set a hold rating for the company. Finally, Morgan Stanley lifted their target price on BrightSphere Investment Group from $20.00 to $22.00 and gave the stock an equal weight rating in a research report on Friday, January 19th.

Read Our Latest Report on BSIG

BrightSphere Investment Group Stock Down 3.0 %

Shares of BSIG opened at $20.71 on Friday. The company has a market cap of $859.67 million, a PE ratio of 13.36 and a beta of 1.51. The business has a fifty day moving average of $19.54 and a 200 day moving average of $19.20. BrightSphere Investment Group has a 52-week low of $15.23 and a 52-week high of $26.88.

BrightSphere Investment Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, March 15th will be issued a $0.01 dividend. The ex-dividend date is Thursday, March 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.19%. BrightSphere Investment Group’s payout ratio is currently 2.58%.

Institutional Trading of BrightSphere Investment Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC bought a new stake in shares of BrightSphere Investment Group in the first quarter valued at about $27,000. Tower Research Capital LLC TRC raised its holdings in shares of BrightSphere Investment Group by 180.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,417 shares of the company’s stock valued at $51,000 after acquiring an additional 1,555 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of BrightSphere Investment Group by 12.4% in the third quarter. Public Employees Retirement System of Ohio now owns 4,532 shares of the company’s stock valued at $68,000 after acquiring an additional 500 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in BrightSphere Investment Group in the second quarter valued at about $124,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in BrightSphere Investment Group by 48.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,790 shares of the company’s stock valued at $170,000 after purchasing an additional 2,886 shares during the last quarter. 98.69% of the stock is currently owned by institutional investors.

BrightSphere Investment Group Company Profile

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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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