BrightSphere Investment Group (NYSE:BSIG) Price Target Cut to $25.00 by Analysts at Morgan Stanley

BrightSphere Investment Group (NYSE:BSIG) had its price objective reduced by Morgan Stanley from $26.00 to $25.00 in a research report report published on Friday morning,Benzinga reports. They currently have an underweight rating on the stock.

Other analysts also recently issued reports about the stock. BMO Capital Markets reissued a “sector perform” rating and issued a $33.00 price target (up from $30.00) on shares of BrightSphere Investment Group in a research note on Tuesday, December 10th. Evercore ISI increased their target price on BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Royal Bank of Canada downgraded BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $30.00 to $33.00 in a research report on Tuesday, December 10th. Finally, StockNews.com upgraded shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.50.

BrightSphere Investment Group Price Performance

Shares of NYSE:BSIG opened at $27.01 on Friday. The firm has a fifty day moving average price of $28.97 and a two-hundred day moving average price of $25.48. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 16.37 and a beta of 1.45. BrightSphere Investment Group has a one year low of $18.09 and a one year high of $31.52.

BrightSphere Investment Group (NYSE:BSIG) last announced its earnings results on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $123.10 million for the quarter, compared to analyst estimates of $114.95 million. During the same period in the prior year, the company earned $0.45 EPS. Equities research analysts expect that BrightSphere Investment Group will post 2.59 EPS for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio is presently 2.42%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BSIG. Blue Trust Inc. raised its stake in BrightSphere Investment Group by 2,397.6% during the 3rd quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock valued at $79,000 after buying an additional 2,997 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in BrightSphere Investment Group during the third quarter valued at approximately $89,000. Quest Partners LLC bought a new position 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 bought a new stake in BrightSphere Investment Group during the 3rd quarter valued at approximately $213,000. Institutional investors 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.