Analysts Set BrightSphere Investment Group Inc. (NYSE:BSIG) PT at $30.50

BrightSphere Investment Group Inc. (NYSE:BSIG) has received an average recommendation of “Reduce” from the four brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $30.50.

BSIG has been the subject of a number of research analyst reports. Royal Bank of Canada downgraded BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $30.00 to $33.00 in a report on Tuesday, December 10th. StockNews.com initiated coverage on BrightSphere Investment Group in a report on Saturday. They issued a “buy” rating on the stock. Morgan Stanley reduced their price objective on BrightSphere Investment Group from $26.00 to $25.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. BMO Capital Markets reissued a “sector perform” rating and set a $33.00 target price (up previously from $30.00) on shares of BrightSphere Investment Group in a research report on Tuesday, December 10th. Finally, Evercore ISI lifted their price target on shares of 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.

Institutional Trading of BrightSphere Investment Group

Large investors have recently bought and sold shares of the company. DGS Capital Management LLC lifted its position in shares of BrightSphere Investment Group by 2.6% during the third quarter. DGS Capital Management LLC now owns 25,153 shares of the company’s stock worth $639,000 after purchasing an additional 646 shares in the last quarter. Creative Planning increased its stake in BrightSphere Investment Group by 7.6% during the 2nd quarter. Creative Planning now owns 17,553 shares of the company’s stock worth $389,000 after buying an additional 1,235 shares during the period. Assenagon Asset Management S.A. lifted its holdings in BrightSphere Investment Group by 3.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 55,574 shares of the company’s stock worth $1,412,000 after buying an additional 1,805 shares in the last quarter. New York State Teachers Retirement System boosted its position in BrightSphere Investment Group by 24.3% in the 3rd quarter. New York State Teachers Retirement System now owns 13,132 shares of the company’s stock valued at $334,000 after buying an additional 2,565 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of BrightSphere Investment Group by 5.6% during the second quarter. American Century Companies Inc. now owns 50,729 shares of the company’s stock valued at $1,125,000 after acquiring an additional 2,693 shares in the last quarter. Institutional investors and hedge funds own 98.69% of the company’s stock.

BrightSphere Investment Group Price Performance

The stock’s fifty day simple moving average is $29.00 and its 200-day simple moving average is $25.74. BrightSphere Investment Group has a 12-month low of $18.09 and a 12-month high of $31.52. 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 (NYSE:BSIG) last released its earnings results on Thursday, October 31st. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.07. BrightSphere Investment Group had a net margin of 13.92% and a return on equity of 7,606.72%. The business had revenue of $123.10 million for the quarter, compared to analysts’ expectations of $114.95 million. During the same period last year, the company earned $0.45 earnings per share. Sell-side analysts predict that BrightSphere Investment Group will post 2.59 EPS for the current fiscal year.

BrightSphere Investment Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of ∞. The ex-dividend date was Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio (DPR) is presently 2.42%.

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.