BrightSphere Investment Group (NYSE:BSIG) Lowered to “Underweight” at Morgan Stanley

Morgan Stanley lowered shares of BrightSphere Investment Group (NYSE:BSIG) from an equal weight rating to an underweight rating in a research report sent to investors on Friday morning, MarketBeat reports. Morgan Stanley currently has $26.00 price objective on the stock, up from their previous price objective of $23.00.

A number of other research firms have also issued reports on BSIG. Royal Bank of Canada upped their target price on shares of BrightSphere Investment Group from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. StockNews.com downgraded shares of BrightSphere Investment Group from a “buy” rating to a “hold” rating in a report on Monday, July 22nd.

BrightSphere Investment Group Trading Up 0.1 %

Shares of BrightSphere Investment Group stock opened at $27.10 on Friday. BrightSphere Investment Group has a twelve month low of $15.23 and a twelve month high of $27.33. The firm has a market capitalization of $1.00 billion, a PE ratio of 16.33 and a beta of 1.41. The firm’s 50-day moving average price is $24.38 and its 200 day moving average price is $23.45.

BrightSphere Investment Group (NYSE:BSIG) last released its earnings results on Thursday, August 1st. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. BrightSphere Investment Group had a return on equity of 871.33% and a net margin of 15.00%. The business had revenue of $109.00 million for the quarter, compared to the consensus estimate of $104.72 million. During the same quarter last year, the business posted $0.28 earnings per share. On average, sell-side analysts predict that BrightSphere Investment Group will post 2.31 EPS for the current fiscal year.

BrightSphere Investment Group Announces Dividend

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

Hedge Funds Weigh In On BrightSphere Investment Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Gladius Capital Management LP acquired a new position in BrightSphere Investment Group in the second quarter valued at approximately $32,000. Blue Trust Inc. lifted its stake in shares of 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. grew its holdings in shares of 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 stake in BrightSphere Investment Group in the 2nd quarter valued at about $147,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 buying an additional 3,561 shares during the last quarter. 98.69% of the stock is currently owned by institutional investors and hedge funds.

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.