BrightSphere Investment Group (NYSE:BSIG) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of BrightSphere Investment Group (NYSE:BSIG) from a hold rating to a buy rating in a research note released on Tuesday.

Other analysts have also recently issued reports about the company. Morgan Stanley downgraded BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $23.00 to $26.00 in a research note on Friday, October 18th. Royal Bank of Canada lifted their price objective 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. Finally, Evercore ISI upped their target price on BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.00.

BrightSphere Investment Group Price Performance

Shares of NYSE BSIG opened at $30.15 on Tuesday. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 18.27 and a beta of 1.41. The firm’s 50 day simple moving average is $25.74 and its 200-day simple moving average is $24.01. BrightSphere Investment Group has a 12 month low of $16.01 and a 12 month high of $30.49.

BrightSphere Investment Group (NYSE:BSIG) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. The firm had revenue of $123.10 million during 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 in the previous year, the business earned $0.45 EPS. Analysts anticipate that BrightSphere Investment Group will post 2.59 earnings per share for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio is presently 2.42%.

Hedge Funds Weigh In On BrightSphere Investment Group

Hedge funds have recently modified their holdings of the business. Gladius Capital Management LP acquired a new stake in BrightSphere Investment Group in the 2nd quarter valued at approximately $32,000. Blue Trust Inc. raised its holdings in shares of BrightSphere Investment Group by 2,397.6% in the 3rd quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock valued at $79,000 after buying an additional 2,997 shares during the period. Quest Partners LLC acquired a new position in BrightSphere Investment Group during the 2nd quarter worth about $147,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in BrightSphere Investment Group by 67.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock valued at $195,000 after acquiring an additional 3,561 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new position in BrightSphere Investment Group in the 1st quarter valued at about $214,000. 98.69% of the stock is currently owned by hedge funds and other institutional investors.

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.