BrightSphere Investment Group (NYSE:BSIG) Price Target Raised to $30.00

BrightSphere Investment Group (NYSE:BSIG) had its price objective raised by Royal Bank of Canada from $28.00 to $30.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on BSIG. Morgan Stanley downgraded 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. StockNews.com downgraded BrightSphere Investment Group from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd.

BrightSphere Investment Group Stock Performance

Shares of BSIG stock opened at $27.39 on Friday. BrightSphere Investment Group has a 1 year low of $15.79 and a 1 year high of $27.59. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 16.60 and a beta of 1.41. The stock’s 50-day moving average is $25.07 and its two-hundred day moving average is $23.74.

BrightSphere Investment Group (NYSE:BSIG) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. The company had revenue of $123.10 million for the quarter, compared to analyst estimates of $114.95 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. As a group, research analysts predict that BrightSphere Investment Group will post 2.4 EPS for the current year.

BrightSphere Investment Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.01 per share. The ex-dividend date 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 payout ratio is currently 2.42%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its holdings in BrightSphere Investment Group by 29.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,885 shares of the company’s stock valued at $94,000 after acquiring an additional 1,106 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of BrightSphere Investment Group in the 1st quarter worth about $378,000. Jennison Associates LLC raised its stake in shares of BrightSphere Investment Group by 29.4% in the 1st quarter. Jennison Associates LLC now owns 759,391 shares of the company’s stock valued at $17,344,000 after purchasing an additional 172,318 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in shares of 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 worth $647,000 after purchasing an additional 924 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in BrightSphere Investment Group in the first quarter worth about $1,292,000. 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.