BrightSphere Investment Group (NYSE:BSIG) Downgraded to Sector Perform Rating by Royal Bank of Canada

Royal Bank of Canada cut shares of BrightSphere Investment Group (NYSE:BSIG) from an outperform rating to a sector perform rating in a report published on Tuesday, MarketBeat Ratings reports. They currently have $33.00 target price on the stock, up from their previous target price of $30.00.

Other equities analysts have also recently issued reports about the company. StockNews.com upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. 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 report on Thursday, November 7th. Finally, Morgan Stanley downgraded shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their price objective for the company from $23.00 to $26.00 in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, BrightSphere Investment Group presently has a consensus rating of “Hold” and a consensus target price of $30.75.

BrightSphere Investment Group Stock Down 0.7 %

Shares of NYSE BSIG opened at $30.39 on Tuesday. BrightSphere Investment Group has a fifty-two week low of $18.09 and a fifty-two week high of $31.52. The business has a 50 day moving average price of $28.13 and a two-hundred day moving average price of $25.14. The firm has a market cap of $1.13 billion, a PE ratio of 18.42 and a beta of 1.45.

BrightSphere Investment Group (NYSE:BSIG) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.59 earnings per share 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 company had revenue of $123.10 million during the quarter, compared to analyst estimates of $114.95 million. During the same period last year, the business earned $0.45 EPS. On average, analysts anticipate that BrightSphere Investment Group will post 2.59 earnings per share for the current year.

BrightSphere Investment Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Friday, December 13th. BrightSphere Investment Group’s payout ratio is 2.42%.

Institutional Investors Weigh In On BrightSphere Investment Group

Large investors have recently made changes to their positions in the company. Gladius Capital Management LP acquired a new stake in BrightSphere Investment Group in the 2nd quarter valued at approximately $32,000. Blue Trust Inc. raised its stake in shares of BrightSphere Investment Group by 2,397.6% during the third quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock valued at $79,000 after purchasing an additional 2,997 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in BrightSphere Investment Group in the third quarter worth about $89,000. Quest Partners LLC acquired a new stake in BrightSphere Investment Group in the second quarter worth about $147,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in BrightSphere Investment Group by 67.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock valued at $195,000 after buying an additional 3,561 shares in the last quarter. 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.