Evercore ISI Forecasts Strong Price Appreciation for BrightSphere Investment Group (NYSE:BSIG) Stock

BrightSphere Investment Group (NYSE:BSIG) had its target price raised by Evercore ISI from $28.00 to $31.00 in a report released on Thursday morning,Benzinga reports. They currently have an in-line rating on the stock.

Several other research firms also recently issued reports on BSIG. StockNews.com upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada increased their target price on BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Morgan Stanley downgraded BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and increased their target price for the stock 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, one has issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.00.

BrightSphere Investment Group Stock Down 0.2 %

BSIG stock opened at $29.25 on Thursday. The firm has a market cap of $1.08 billion, a PE ratio of 17.73 and a beta of 1.41. The business has a 50 day moving average of $25.49 and a 200-day moving average of $23.90. BrightSphere Investment Group has a 12-month low of $15.79 and a 12-month high of $30.35.

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, beating the consensus estimate of $0.52 by $0.07. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. The company had revenue of $123.10 million during the quarter, compared to analyst estimates of $114.95 million. During the same period in the prior year, the company posted $0.45 earnings per share. On average, research analysts expect that BrightSphere Investment Group will post 2.59 earnings per share for the current year.

BrightSphere Investment Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.01 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.14%. BrightSphere Investment Group’s dividend payout ratio is presently 2.42%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Texas Permanent School Fund Corp boosted its holdings in shares of BrightSphere Investment Group by 3.4% during the first quarter. Texas Permanent School Fund Corp now owns 28,335 shares of the company’s stock worth $647,000 after purchasing an additional 924 shares during the period. Creative Planning lifted its holdings in BrightSphere Investment Group by 7.6% in the second 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. Gladius Capital Management LP purchased a new stake in BrightSphere Investment Group in the second quarter worth about $32,000. Assenagon Asset Management S.A. lifted its holdings in shares of BrightSphere Investment Group by 3.4% during the third quarter. Assenagon Asset Management S.A. now owns 55,574 shares of the company’s stock valued at $1,412,000 after purchasing an additional 1,805 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its holdings in shares of BrightSphere Investment Group by 9.9% during the second quarter. Linden Thomas Advisory Services LLC now owns 20,960 shares of the company’s stock valued at $465,000 after purchasing an additional 1,889 shares during the last quarter. 98.69% of the stock is owned by institutional investors.

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.