BrightSphere Investment Group (NYSE:BSIG) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of BrightSphere Investment Group (NYSE:BSIG) from a hold rating to a buy rating in a research report sent to investors on Friday.

Other research analysts have also recently issued reports about the stock. Morgan Stanley cut shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and lifted their price target for the company from $23.00 to $26.00 in a research report on Friday, October 18th. Royal Bank of Canada increased their price objective on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday.

BrightSphere Investment Group Stock Up 3.9 %

Shares of BSIG traded up $1.04 on Friday, reaching $27.43. The stock had a trading volume of 158,687 shares, compared to its average volume of 258,742. BrightSphere Investment Group has a twelve month low of $15.23 and a twelve month high of $27.58. The firm has a market capitalization of $1.02 billion, a PE ratio of 16.62 and a beta of 1.41. The firm has a 50-day moving average of $25.00 and a 200 day moving average of $23.69.

BrightSphere Investment Group (NYSE:BSIG) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.45 EPS for the quarter, beating 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 quarter in the prior year, the company posted $0.28 EPS. On average, sell-side analysts anticipate that BrightSphere Investment Group will post 2.4 earnings per share for the current fiscal year.

BrightSphere Investment Group Announces Dividend

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 paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. BrightSphere Investment Group’s dividend payout ratio (DPR) is presently 2.42%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. acquired a new stake in shares of BrightSphere Investment Group in the 1st quarter valued at about $853,000. Jennison Associates LLC raised its stake in BrightSphere Investment Group by 29.4% during the first quarter. Jennison Associates LLC now owns 759,391 shares of the company’s stock valued at $17,344,000 after buying an additional 172,318 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in BrightSphere Investment Group by 297.9% during the 2nd quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock worth $3,414,000 after buying an additional 115,300 shares during the last quarter. Maverick Capital Ltd. acquired a new position in shares of BrightSphere Investment Group in the 2nd quarter worth approximately $1,204,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of BrightSphere Investment Group by 61.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 77,216 shares of the company’s stock valued at $1,756,000 after acquiring an additional 29,302 shares during the last quarter. 98.69% of the stock is currently owned by 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.