BrightSphere Investment Group (NYSE:BSIG) Shares Down 2.7% – Time to Sell?

BrightSphere Investment Group Inc. (NYSE:BSIG) was down 2.7% during mid-day trading on Friday . The stock traded as low as $26.73 and last traded at $27.26. Approximately 70,757 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 251,542 shares. The stock had previously closed at $28.02.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BSIG. Evercore ISI raised 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 research report on Thursday, November 7th. Morgan Stanley cut BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $23.00 to $26.00 in a research note on Friday, October 18th. StockNews.com raised BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. BMO Capital Markets reissued a “sector perform” rating and issued a $33.00 target price (up previously from $30.00) on shares of BrightSphere Investment Group in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada downgraded shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $30.00 to $33.00 in a report on Tuesday, December 10th. One 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.com, BrightSphere Investment Group presently has a consensus rating of “Hold” and a consensus price target of $30.75.

BrightSphere Investment Group Stock Down 1.7 %

The company has a market cap of $1.03 billion, a P/E ratio of 16.68 and a beta of 1.45. The business has a fifty day simple moving average of $28.95 and a two-hundred day simple moving average of $25.45.

BrightSphere Investment Group (NYSE:BSIG) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $114.95 million. During the same quarter last year, the firm posted $0.45 earnings per share. On average, equities analysts predict that BrightSphere Investment Group Inc. will post 2.59 EPS for the current fiscal year.

BrightSphere Investment Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 annualized dividend and a dividend yield of 0.15%. BrightSphere Investment Group’s dividend payout ratio (DPR) is 2.42%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in 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. bought a new position in BrightSphere Investment Group in the 3rd quarter worth $89,000. Quest Partners LLC purchased a new stake in BrightSphere Investment Group in the 2nd quarter worth $147,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in BrightSphere Investment Group by 67.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock valued at $195,000 after acquiring an additional 3,561 shares during the period. Finally, Verition Fund Management LLC purchased a new position in shares of BrightSphere Investment Group in the third quarter valued at about $213,000. 98.69% of the stock is currently 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.