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 report sent to investors on Tuesday morning.

BSIG has been the subject of a number of other research reports. 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 report on Friday, November 1st. Evercore ISI increased their price objective on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Morgan Stanley downgraded shares of 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 report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $29.00.

BrightSphere Investment Group Stock Down 0.2 %

BSIG stock opened at $29.59 on Tuesday. The firm has a market cap of $1.10 billion, a P/E ratio of 17.93 and a beta of 1.41. BrightSphere Investment Group has a 52-week low of $17.05 and a 52-week high of $30.49. The company’s 50-day simple moving average is $26.11 and its 200-day simple moving average is $24.14.

BrightSphere Investment Group (NYSE:BSIG) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $123.10 million for the quarter, compared to analyst estimates 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 last year, the company posted $0.45 EPS. On average, analysts anticipate that BrightSphere Investment Group will post 2.59 earnings per share for the current fiscal year.

BrightSphere Investment Group Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.04 annualized dividend and a yield of 0.14%. BrightSphere Investment Group’s dividend payout ratio (DPR) is presently 2.42%.

Institutional Trading of BrightSphere Investment Group

Institutional investors have recently added to or reduced their stakes in the stock. Gladius Capital Management LP purchased a new position in BrightSphere Investment Group in the 2nd quarter valued at approximately $32,000. Blue Trust Inc. boosted its position in 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. Point72 Asset Management L.P. purchased a new position in BrightSphere Investment Group in the 3rd quarter valued at approximately $89,000. Quest Partners LLC purchased a new position in BrightSphere Investment Group in the 2nd quarter valued at approximately $147,000. Finally, Verition Fund Management LLC purchased a new position in BrightSphere Investment Group in the 3rd quarter valued at approximately $213,000. Institutional investors and hedge funds 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.