BrightSphere Investment Group Inc. (NYSE: BSIG) was the target of a sharp increase in short-term interest rates in November. As of November 15, there was short interest totaling 5,370,000 shares, an increase of 219.6% over the October 31 total of 1,680,000 shares. Based on an average daily trading volume of 819,200 shares, the day-to-coverage ratio is currently 6.6 days.
Several analysts recently commented on the company. Zacks Investment Research upgraded BrightSphere Investment Group from a “strong sell” rating to a “buy” rating and set a price target of $ 33.00 for the company in a research note on Tuesday, November 2 . Evercore ISI reissued a “hold” note and issued a price target of $ 26.00 on shares of BrightSphere Investment Group in a research note on Friday August 6. Keefe, Bruyette & Woods downgraded BrightSphere Investment Group from an “outperformance” rating to a “market performance” rating and increased their target price for the share from $ 31.00 to $ 32.00 in a Friday October 29 research note. Finally, the Royal Bank of Canada increased its price target on BrightSphere Investment Group from $ 30.00 to $ 32.00 and assigned the stock an “outperformance” rating in a research note on Monday November 1st. Two analysts rated the stock with a conservation rating and five issued a buy rating for the stock. According to data from MarketBeat.com, BrightSphere Investment Group currently has a consensus rating of “Buy” and a consensus target price of $ 29.57.
BSIG shares traded down $ 0.31 on Friday, reaching $ 30.15. 1,071,084 shares of the company traded for an average volume of 560,613. The stock has a market cap of $ 2.41 billion, a PE ratio of 2.53 and a beta of 1.70. The stock’s 50-day simple moving average is $ 28.17 and its two-hundred-day simple moving average is $ 25.81. BrightSphere Investment Group has a 52 week low of $ 17.45 and a 52 week high of $ 30.88.
BrightSphere Investment Group (NYSE: BSIG) last reported its quarterly results on Wednesday, October 27. The company reported earnings of $ 0.28 per share for the quarter, missing the consensus estimate of $ 0.29 of ($ 0.01). BrightSphere Investment Group had a net margin of 175.91% and a return on equity of 17.87%. During the same period of the previous year, the company made EPS of $ 0.47. As a group, analysts expect BrightSphere Investment Group to post earnings per share of 1.41 for the current year.
The company also recently unveiled a quarterly dividend, which will be paid on Thursday, December 30. Shareholders of record on Friday, December 17 will receive a dividend of $ 0.01 per share. This represents an annualized dividend of $ 0.04 and a return of 0.13%. The ex-date of this dividend is Thursday, December 16. BrightSphere Investment Group’s dividend payout ratio (DPR) is 0.34%.
A number of hedge funds and other institutional investors have recently changed their positions in BSIG. Ameriprise Financial Inc. increased its holdings of shares of BrightSphere Investment Group by 1.5% in the first quarter. Ameriprise Financial Inc. now owns 298,207 shares of the company valued at $ 6,078,000 after acquiring an additional 4,530 shares during the period. AQR Capital Management LLC increased its stake in shares of BrightSphere Investment Group by 68.9% in the first quarter. AQR Capital Management LLC now owns 76,343 shares of the company valued at $ 1,556,000 after acquiring an additional 31,132 shares during the period. Cubist Systematic Strategies LLC increased its holdings of shares of BrightSphere Investment Group by 170.4% in the first quarter. Cubist Systematic Strategies LLC now owns 21,002 shares of the company valued at $ 428,000 after acquiring an additional 13,236 shares during the period. Millennium Management LLC increased its holdings of shares of BrightSphere Investment Group by 114.1% in the first quarter. Millennium Management LLC now owns 441,996 shares of the company valued at $ 9,008,000 after acquiring an additional 235,576 shares during the period. Finally, Paloma Partners Management Co purchased a new position in shares of BrightSphere Investment Group in the first quarter valued at $ 293,000. 98.87% of the shares are held by institutional investors and hedge funds.
BrightSphere Investment Group Company Profile
BrightSphere Investment Group, Inc is a holding company which provides asset management services. It also focuses on developing new business opportunities in national and international markets. The company operates through the following segments: Quant & Solutions, Alternatives and Liquid Alpha.
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