BrightSphere Investment Group Inc. (NYSE:BSIG) Receives Average Rating of “Reduce” from Brokerages

BrightSphere Investment Group Inc. (NYSE:BSIG) has earned an average recommendation of “Reduce” from the four analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $30.50.

BSIG has been the subject of several research reports. Evercore ISI lifted their target price on BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. BMO Capital Markets reaffirmed a “sector perform” rating and issued a $33.00 price objective (up previously from $30.00) on shares of BrightSphere Investment Group in a report on Tuesday, December 10th. Royal Bank of Canada cut shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $30.00 to $33.00 in a report on Tuesday, December 10th. Morgan Stanley decreased their price target on shares of BrightSphere Investment Group from $26.00 to $25.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Finally, StockNews.com began coverage on shares of BrightSphere Investment Group in a research report on Saturday. They set a “buy” rating for the company.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of BrightSphere Investment Group by 67.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock worth $195,000 after buying an additional 3,561 shares during the period. Quest Partners LLC bought a new stake in BrightSphere Investment Group during the 2nd quarter valued at $147,000. American Century Companies Inc. boosted its position in BrightSphere Investment Group by 5.6% during the 2nd quarter. American Century Companies Inc. now owns 50,729 shares of the company’s stock worth $1,125,000 after acquiring an additional 2,693 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of BrightSphere Investment Group by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,126,772 shares of the company’s stock worth $24,980,000 after purchasing an additional 4,399 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings 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 valued at $3,414,000 after purchasing an additional 115,300 shares during the period. Institutional investors own 98.69% of the company’s stock.

BrightSphere Investment Group Price Performance

The firm has a market capitalization of $982.96 million, a PE ratio of 15.96 and a beta of 1.45. BrightSphere Investment Group has a twelve month low of $18.09 and a twelve month high of $31.52. The company has a 50-day moving average of $29.00 and a two-hundred day moving average of $25.74.

BrightSphere Investment Group (NYSE:BSIG) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.59 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 net margin of 13.92% and a return on equity of 7,606.72%. During the same quarter last year, the company posted $0.45 earnings per share. On average, sell-side analysts predict that BrightSphere Investment Group will post 2.59 earnings per share for the current year.

BrightSphere Investment Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.04 annualized dividend and a yield of ∞. BrightSphere Investment Group’s dividend payout ratio is presently 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.