BrightSphere Investment Group Inc. (NYSE:BSIG) Given Average Recommendation of “Buy” by Brokerages

BrightSphere Investment Group Inc. (NYSE:BSIGGet Rating) has been given a consensus rating of “Buy” by the seven analysts that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $28.40.

BSIG has been the subject of a number of research analyst reports. Zacks Investment Research raised BrightSphere Investment Group from a “hold” rating to a “strong-buy” rating and set a $25.00 target price for the company in a research note on Tuesday, April 12th. TheStreet cut BrightSphere Investment Group from a “b” rating to a “c” rating in a research note on Thursday, February 3rd. Morgan Stanley cut their price target on shares of BrightSphere Investment Group from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, April 8th. Finally, StockNews.com started coverage on shares of BrightSphere Investment Group in a report on Thursday, March 31st. They issued a “hold” rating for the company.

In other news, CEO Suren Rana sold 119,963 shares of the stock in a transaction dated Tuesday, February 8th. The shares were sold at an average price of $24.05, for a total transaction of $2,885,110.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 27.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. acquired a new position in shares of BrightSphere Investment Group during the 3rd quarter worth about $28,000. USA Financial Portformulas Corp bought a new position in BrightSphere Investment Group during the third quarter worth about $60,000. PNC Financial Services Group Inc. increased its position in BrightSphere Investment Group by 19.7% during the third quarter. PNC Financial Services Group Inc. now owns 2,408 shares of the company’s stock worth $62,000 after buying an additional 396 shares during the last quarter. Royal Bank of Canada raised its stake in BrightSphere Investment Group by 202.7% in the second quarter. Royal Bank of Canada now owns 3,971 shares of the company’s stock valued at $93,000 after buying an additional 2,659 shares during the period. Finally, US Bancorp DE raised its stake in BrightSphere Investment Group by 131.8% in the third quarter. US Bancorp DE now owns 4,376 shares of the company’s stock valued at $115,000 after buying an additional 2,488 shares during the period. 75.67% of the stock is owned by institutional investors.

Shares of NYSE:BSIG opened at $22.33 on Thursday. The firm’s 50 day simple moving average is $23.73 and its 200 day simple moving average is $24.36. BrightSphere Investment Group has a fifty-two week low of $19.93 and a fifty-two week high of $31.17. The company has a market capitalization of $981.05 million, a price-to-earnings ratio of 2.22 and a beta of 1.61.

BrightSphere Investment Group (NYSE:BSIGGet Rating) last issued its earnings results on Thursday, February 3rd. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.12. The firm had revenue of $162.90 million during the quarter, compared to the consensus estimate of $117.07 million. BrightSphere Investment Group had a net margin of 151.92% and a return on equity of 21.01%. On average, equities analysts anticipate that BrightSphere Investment Group will post 2.4 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 11th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend was Thursday, March 10th. BrightSphere Investment Group’s dividend payout ratio is presently 0.40%.

About BrightSphere Investment Group (Get Rating)

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.

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