BrightSphere Investment Group (NYSE:BSIG) Cut to Underweight at Morgan Stanley

Morgan Stanley lowered shares of BrightSphere Investment Group (NYSE:BSIG) from an equal weight rating to an underweight rating in a research report report published on Friday morning, Marketbeat.com reports. They currently have $26.00 price objective on the stock, up from their prior price objective of $23.00.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com cut shares of BrightSphere Investment Group from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Royal Bank of Canada raised their price objective on shares of BrightSphere Investment Group from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, October 11th.

BrightSphere Investment Group Price Performance

BSIG opened at $27.10 on Friday. The firm has a market cap of $1.02 billion, a PE ratio of 16.52 and a beta of 1.41. The stock has a 50-day moving average price of $24.38 and a 200-day moving average price of $23.46. BrightSphere Investment Group has a 1 year low of $15.23 and a 1 year high of $27.33.

BrightSphere Investment Group (NYSE:BSIG) last issued its earnings results on Thursday, August 1st. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $109.00 million during the quarter, compared to analysts’ expectations of $104.72 million. During the same period in the previous year, the company earned $0.28 earnings per share. As a group, sell-side analysts anticipate that BrightSphere Investment Group will post 2.31 EPS for the current year.

BrightSphere Investment Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.01 per share. The ex-dividend date was Friday, September 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 2.44%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Texas Permanent School Fund Corp raised its holdings in BrightSphere Investment Group by 3.4% during the first quarter. Texas Permanent School Fund Corp now owns 28,335 shares of the company’s stock valued at $647,000 after acquiring an additional 924 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of BrightSphere Investment Group by 29.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,885 shares of the company’s stock valued at $94,000 after purchasing an additional 1,106 shares during the last quarter. Creative Planning grew its position in shares of BrightSphere Investment Group by 7.6% during the second quarter. Creative Planning now owns 17,553 shares of the company’s stock valued at $389,000 after purchasing an additional 1,235 shares in the last quarter. Gladius Capital Management LP bought a new stake in shares of BrightSphere Investment Group in the second quarter worth about $32,000. Finally, Linden Thomas Advisory Services LLC grew its holdings in BrightSphere Investment Group by 9.9% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 20,960 shares of the company’s stock valued at $465,000 after buying an additional 1,889 shares in the last quarter. Hedge funds and other institutional investors 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.