BrightSphere Investment Group (NYSE:BSIG) Downgraded by Morgan Stanley

by · The Cerbat Gem

Morgan Stanley lowered shares of BrightSphere Investment Group (NYSE:BSIG – Free Report) from an equal weight rating to an underweight rating in a research report report published on Friday, MarketBeat Ratings reports. The brokerage currently has $26.00 target price on the stock, up from their prior target price of $23.00.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada increased their target price on BrightSphere Investment Group from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, October 11th. StockNews.com downgraded BrightSphere Investment Group from a “buy” rating to a “hold” rating in a report on Monday, July 22nd.

Check Out Our Latest Stock Analysis on BSIG

BrightSphere Investment Group Stock Up 0.1 %

NYSE:BSIG opened at $27.10 on Friday. BrightSphere Investment Group has a 52 week low of $15.23 and a 52 week high of $27.33. The company has a fifty day simple moving average of $24.38 and a two-hundred day simple moving average of $23.45. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 16.33 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG – Get Free Report) last released its earnings results on Thursday, August 1st. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. BrightSphere Investment Group had a net margin of 15.00% and a return on equity of 871.33%. The firm had revenue of $109.00 million for the quarter, compared to analyst estimates of $104.72 million. During the same period in the prior year, the firm earned $0.28 earnings per share. On average, analysts expect that BrightSphere Investment Group will post 2.31 EPS for the current year.

BrightSphere Investment Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Friday, September 13th. BrightSphere Investment Group’s dividend payout ratio (DPR) is currently 2.41%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BSIG. Gladius Capital Management LP purchased a new stake in BrightSphere Investment Group in the second quarter valued at approximately $32,000. Blue Trust Inc. raised its position in BrightSphere Investment Group by 2,397.6% in the 3rd 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 during the last quarter. PNC Financial Services Group Inc. boosted its stake in BrightSphere Investment Group by 29.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,885 shares of the company’s stock worth $94,000 after purchasing an additional 1,106 shares during the period. Quest Partners LLC purchased a new position in BrightSphere Investment Group during the 2nd quarter worth $147,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in BrightSphere Investment Group by 67.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock valued at $195,000 after purchasing an additional 3,561 shares during the period. Hedge funds and other institutional investors own 98.69% of the company’s stock.

About BrightSphere Investment Group

(Get Free Report)

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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