BrightSphere Investment Group (NYSE:BSIG) Trading Down 2.7% – Here’s Why

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BSIG. Royal Bank of Canada lowered shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $30.00 to $33.00 in a research report on Tuesday, December 10th. StockNews.com upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Morgan Stanley downgraded BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $23.00 to $26.00 in a research report on Friday, October 18th. BMO Capital Markets reaffirmed a “sector perform” rating and issued a $33.00 price objective (up previously from $30.00) on shares of BrightSphere Investment Group in a research note on Tuesday, December 10th. Finally, 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 research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.75.

BrightSphere Investment Group Stock Performance

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

BrightSphere Investment Group (NYSE:BSIG) last issued its earnings results on Thursday, October 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $123.10 million during the quarter, compared to analyst estimates of $114.95 million. During the same period in the previous year, the firm earned $0.45 earnings per share. On average, equities analysts forecast that BrightSphere Investment Group Inc. will post 2.59 EPS for the current year.

BrightSphere Investment Group Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its holdings in shares of BrightSphere Investment Group by 297.9% in the 2nd quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock worth $3,414,000 after buying an additional 115,300 shares during the period. Maverick Capital Ltd. purchased a new position in BrightSphere Investment Group during the 2nd quarter valued at about $1,204,000. Verition Fund Management LLC bought a new stake in shares of BrightSphere Investment Group in the 3rd quarter valued at about $213,000. Impax Asset Management Group plc lifted its position in shares of BrightSphere Investment Group by 4.8% in the 3rd quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock worth $27,910,000 after purchasing an additional 50,000 shares during the period. Finally, Quest Partners LLC boosted its stake in shares of BrightSphere Investment Group by 329.0% during the third quarter. Quest Partners LLC now owns 28,459 shares of the company’s stock valued at $723,000 after purchasing an additional 21,825 shares in the last quarter. 98.69% of the stock is currently owned by hedge funds and other institutional investors.

About BrightSphere Investment Group

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.