BrightSphere Investment Group Inc. (NYSE:BSIG) Receives $30.50 Consensus PT from Analysts

BrightSphere Investment Group Inc. (NYSE:BSIG) has received a consensus recommendation of “Reduce” from the four brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and three have issued a hold rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $30.50.

BSIG has been the topic of a number of recent research reports. Morgan Stanley decreased their target price on BrightSphere Investment Group from $26.00 to $25.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada downgraded BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $30.00 to $33.00 in a research note on Tuesday, December 10th. StockNews.com raised BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Evercore ISI increased their target price on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, BMO Capital Markets restated 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 note on Tuesday, December 10th.

BrightSphere Investment Group Price Performance

The company has a market cap of $982.96 million, a PE ratio of 15.96 and a beta of 1.45. The business has a fifty day simple moving average of $29.00 and a 200 day simple moving average of $25.74. BrightSphere Investment Group has a one year low of $18.09 and a one year high of $31.52.

BrightSphere Investment Group (NYSE:BSIG) last announced its earnings results on Thursday, October 31st. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The business had revenue of $123.10 million during the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $0.45 earnings per share. Equities analysts forecast that BrightSphere Investment Group will post 2.59 earnings per share for the current year.

BrightSphere Investment Group Dividend Announcement

The firm 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 yield of ∞. BrightSphere Investment Group’s dividend payout ratio is presently 2.42%.

Hedge Funds Weigh In On BrightSphere Investment Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Azora Capital LP grew its holdings in BrightSphere Investment Group by 10.7% during the 3rd quarter. Azora Capital LP now owns 2,028,358 shares of the company’s stock valued at $51,520,000 after buying an additional 195,728 shares in the last quarter. Jennison Associates LLC boosted its position in shares of BrightSphere Investment Group by 25.3% during the 3rd quarter. Jennison Associates LLC now owns 968,936 shares of the company’s stock valued at $24,611,000 after acquiring an additional 195,417 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of BrightSphere Investment Group by 297.9% in the second quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock valued at $3,414,000 after purchasing an additional 115,300 shares in the last quarter. Marshall Wace LLP bought a new stake in BrightSphere Investment Group in the second quarter worth $1,870,000. Finally, Maverick Capital Ltd. purchased a new stake in BrightSphere Investment Group during the second quarter valued at $1,204,000. 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.