BrightSphere Investment Group (NYSE:BSIG) Price Target Raised to $31.00

BrightSphere Investment Group (NYSE:BSIG) had its price target upped by Evercore ISI from $28.00 to $31.00 in a research note released on Thursday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Royal Bank of Canada boosted their target price on BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Morgan Stanley cut BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $23.00 to $26.00 in a research note on Friday, October 18th. Finally, StockNews.com raised BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.00.

BrightSphere Investment Group Stock Performance

Shares of BSIG stock opened at $29.25 on Thursday. The stock’s 50 day simple moving average is $25.49 and its 200 day simple moving average is $23.90. BrightSphere Investment Group has a twelve month low of $15.79 and a twelve month high of $30.35. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 17.73 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last released its earnings results on Thursday, October 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $123.10 million for the quarter, compared to analyst estimates 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 quarter last year, the firm posted $0.45 EPS. On average, analysts forecast that BrightSphere Investment Group will post 2.59 EPS for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio is currently 2.42%.

Institutional Investors Weigh In On BrightSphere Investment Group

A number of large investors have recently modified their holdings of the business. Jennison Associates LLC lifted its stake 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 acquiring an additional 195,417 shares during the last quarter. Quest Partners LLC lifted its stake in shares of BrightSphere Investment Group by 329.0% in the 3rd quarter. Quest Partners LLC now owns 28,459 shares of the company’s stock valued at $723,000 after purchasing an additional 21,825 shares during the period. GSA Capital Partners LLP lifted its stake in shares of BrightSphere Investment Group by 29.4% in the 3rd quarter. GSA Capital Partners LLP now owns 46,993 shares of the company’s stock valued at $1,194,000 after purchasing an additional 10,674 shares during the period. Impax Asset Management Group plc lifted its stake in shares of BrightSphere Investment Group by 4.8% in the 3rd quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock valued at $27,910,000 after purchasing an additional 50,000 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 3rd quarter. New York State Teachers Retirement System now owns 13,132 shares of the company’s stock valued at $334,000 after purchasing an additional 2,565 shares during the period. Institutional investors and hedge funds 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.