BrightSphere Investment Group Inc. (NYSE:BSIG) Receives Average Recommendation of “Reduce” from Brokerages

BrightSphere Investment Group Inc. (NYSE:BSIG) has earned an average recommendation of “Reduce” from the four research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $30.50.

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada lowered shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $30.00 to $33.00 in a report on Tuesday, December 10th. StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Evercore ISI upped their target price on BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Morgan Stanley decreased their price target on BrightSphere Investment Group from $26.00 to $25.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Finally, BMO Capital Markets restated a “sector perform” rating and set a $33.00 price objective (up previously from $30.00) on shares of BrightSphere Investment Group in a report on Tuesday, December 10th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BSIG. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of BrightSphere Investment Group by 67.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock worth $195,000 after acquiring an additional 3,561 shares in the last quarter. Quest Partners LLC acquired a new position in shares of BrightSphere Investment Group during the second quarter worth $147,000. American Century Companies Inc. lifted its holdings in shares of BrightSphere Investment Group by 5.6% during the 2nd quarter. American Century Companies Inc. now owns 50,729 shares of the company’s stock valued at $1,125,000 after purchasing an additional 2,693 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of BrightSphere Investment Group by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,126,772 shares of the company’s stock worth $24,980,000 after purchasing an additional 4,399 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake 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. 98.69% of the stock is currently owned by institutional investors.

BrightSphere Investment Group Stock Performance

The stock has a market capitalization of $982.96 million, a P/E ratio of 15.96 and a beta of 1.45. BrightSphere Investment Group has a 52-week low of $18.09 and a 52-week high of $31.52. The company’s 50-day moving average is $29.00 and its 200 day moving average is $25.74.

BrightSphere Investment Group (NYSE:BSIG) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. The company had revenue of $123.10 million for the quarter, compared to analyst estimates of $114.95 million. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. During the same quarter in the prior year, the firm posted $0.45 EPS. Equities research analysts expect that BrightSphere Investment Group will post 2.59 earnings per share for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $0.01 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of ∞. BrightSphere Investment Group’s payout ratio is 2.42%.

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.