Royal Bank of Canada Issues Positive Forecast for BrightSphere Investment Group (NYSE:BSIG) Stock Price

BrightSphere Investment Group (NYSE:BSIG) had its price target increased by Royal Bank of Canada from $28.00 to $30.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also commented on the company. StockNews.com lowered BrightSphere Investment Group from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Morgan Stanley cut BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $23.00 to $26.00 in a research note on Friday, October 18th.

BrightSphere Investment Group Price Performance

BSIG traded up $1.04 during midday trading on Friday, reaching $27.43. 158,687 shares of the company’s stock traded hands, compared to its average volume of 258,742. BrightSphere Investment Group has a 52 week low of $15.23 and a 52 week high of $27.58. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 16.62 and a beta of 1.41. The firm has a fifty day moving average of $25.00 and a two-hundred day moving average of $23.69.

BrightSphere Investment Group (NYSE:BSIG) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. BrightSphere Investment Group had a net margin of 15.00% and a return on equity of 871.33%. The company had revenue of $109.00 million during the quarter, compared to the consensus estimate of $104.72 million. During the same period in the prior year, the firm earned $0.28 earnings per share. Sell-side analysts forecast that BrightSphere Investment Group will post 2.4 EPS for the current year.

BrightSphere Investment Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Friday, December 13th. BrightSphere Investment Group’s payout ratio is 2.42%.

Institutional Trading of BrightSphere Investment Group

Several institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its position in shares of BrightSphere Investment Group by 29.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,885 shares of the company’s stock valued at $94,000 after buying an additional 1,106 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in BrightSphere Investment Group during the first quarter valued at approximately $378,000. Jennison Associates LLC boosted its holdings in BrightSphere Investment Group by 29.4% in the first quarter. Jennison Associates LLC now owns 759,391 shares of the company’s stock worth $17,344,000 after purchasing an additional 172,318 shares during the last quarter. Texas Permanent School Fund Corp grew its position in BrightSphere Investment Group by 3.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 28,335 shares of the company’s stock worth $647,000 after purchasing an additional 924 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in BrightSphere Investment Group during the 1st quarter valued at $1,292,000. 98.69% of the stock is currently owned by hedge funds and other institutional investors.

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.