BrightSphere Investment Group Inc. (NYSE:BSIG - Get Free Report) fell 2.7% during mid-day trading on Friday . The stock traded as low as $26.73 and last traded at $27.26. 70,757 shares traded hands during trading, a decline of 72% from the average session volume of 251,542 shares. The stock had previously closed at $28.02.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. BMO Capital Markets reaffirmed a "sector perform" rating and set a $33.00 target price (up from $30.00) on shares of BrightSphere Investment Group in a report on Tuesday, December 10th. StockNews.com upgraded BrightSphere Investment Group from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. Royal Bank of Canada downgraded BrightSphere Investment Group from an "outperform" rating to a "sector perform" rating and lifted their target price for the company from $30.00 to $33.00 in a research report on Tuesday, December 10th. Evercore ISI upped their price target on BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an "in-line" rating in a research report on Thursday, November 7th. Finally, Morgan Stanley decreased 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $30.50.
Get Our Latest Analysis on BSIG
BrightSphere Investment Group Trading Down 3.6 %
The company has a market cap of $1.01 billion, a PE ratio of 16.37 and a beta of 1.45. The business's 50 day moving average is $28.97 and its two-hundred day moving average is $25.48.
BrightSphere Investment Group (NYSE:BSIG - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.52 by $0.07. The business had revenue of $123.10 million for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $0.45 earnings per share. As a group, equities research analysts predict that BrightSphere Investment Group Inc. will post 2.59 EPS for the current fiscal year.
BrightSphere Investment Group Announces Dividend
The firm also recently declared 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 dividend on an annualized basis and a yield of 0.15%. 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 boosted its stake in BrightSphere Investment Group by 10.7% during the third 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 during 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
(
Get Free Report)
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.
See Also
Before you consider BrightSphere Investment Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BrightSphere Investment Group wasn't on the list.
While BrightSphere Investment Group currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
