BrightSphere Investment Group (NYSE:BSIG) Stock Rating Lowered by Royal Bank of Canada

Royal Bank of Canada lowered shares of BrightSphere Investment Group (NYSE:BSIG) from an outperform rating to a sector perform rating in a research note released on Tuesday, MarketBeat reports. Royal Bank of Canada currently has $33.00 price target on the stock, up from their prior price target of $30.00.

BSIG has been the subject of a number of other research reports. Evercore ISI increased their price objective on BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. StockNews.com upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley downgraded BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their price objective for the stock from $23.00 to $26.00 in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $30.75.

BrightSphere Investment Group Stock Down 0.7 %

Shares of BSIG stock opened at $30.39 on Tuesday. The stock has a 50-day simple moving average of $28.13 and a 200 day simple moving average of $25.14. BrightSphere Investment Group has a fifty-two week low of $18.09 and a fifty-two week high of $31.52. The stock has a market capitalization of $1.13 billion, a P/E ratio of 18.42 and a beta of 1.45.

BrightSphere Investment Group (NYSE:BSIG) last released its earnings results on Thursday, October 31st. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The business had revenue of $123.10 million for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $0.45 EPS. On average, sell-side analysts anticipate that BrightSphere Investment Group will post 2.59 earnings per share for the current year.

BrightSphere Investment Group Announces Dividend

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 paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.13%. The ex-dividend date is Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio is currently 2.42%.

Hedge Funds Weigh In On BrightSphere Investment Group

Several institutional investors and hedge funds have recently bought and sold shares of BSIG. Gladius Capital Management LP acquired a new stake in shares of BrightSphere Investment Group during the second quarter worth approximately $32,000. Blue Trust Inc. boosted its stake in shares of BrightSphere Investment Group by 2,397.6% during 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. Point72 Asset Management L.P. purchased a new position in shares of BrightSphere Investment Group during the 3rd quarter valued at $89,000. Quest Partners LLC acquired a new position in shares of BrightSphere Investment Group in the second quarter worth $147,000. Finally, Verition Fund Management LLC acquired a new position in shares of BrightSphere Investment Group in the third quarter worth $213,000. Hedge funds and other institutional investors own 98.69% of the company’s stock.

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.