BrightSphere Investment Group (NYSE:BSIG) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of BrightSphere Investment Group (NYSE:BSIG) from a hold rating to a buy rating in a research report sent to investors on Friday.

A number of other research firms have also issued reports on BSIG. Royal Bank of Canada reiterated an outperform rating and issued a $24.00 target price on shares of BrightSphere Investment Group in a report on Friday, February 2nd. TheStreet upgraded shares of BrightSphere Investment Group from a d+ rating to a c- rating in a research note on Thursday, January 25th. Finally, Morgan Stanley lifted their price target on shares of BrightSphere Investment Group from $20.00 to $22.00 and gave the stock an equal weight rating in a research note on Friday, January 19th.

BrightSphere Investment Group Stock Performance

Shares of BSIG opened at $22.56 on Friday. The company’s 50-day simple moving average is $22.70 and its 200-day simple moving average is $20.30. BrightSphere Investment Group has a 1 year low of $15.23 and a 1 year high of $23.63. The stock has a market capitalization of $854.12 million, a PE ratio of 13.76 and a beta of 1.47.

BrightSphere Investment Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.01 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%. BrightSphere Investment Group’s dividend payout ratio (DPR) is presently 2.44%.

Insiders Place Their Bets

In other BrightSphere Investment Group news, CEO Suren Rana sold 109,960 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $20.74, for a total transaction of $2,280,570.40. Following the completion of the sale, the chief executive officer now directly owns 130,967 shares of the company’s stock, valued at approximately $2,716,255.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.90% of the stock is owned by insiders.

Institutional Trading of BrightSphere Investment Group

A number of hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its stake 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 buying an additional 1,106 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of BrightSphere Investment Group by 48.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,790 shares of the company’s stock worth $170,000 after buying an additional 2,886 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of BrightSphere Investment Group by 16.3% during the 3rd quarter. Federated Hermes Inc. now owns 9,846 shares of the company’s stock worth $191,000 after buying an additional 1,383 shares in the last quarter. Linden Thomas Advisory Services LLC raised its stake in shares of BrightSphere Investment Group by 20.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 12,600 shares of the company’s stock worth $241,000 after buying an additional 2,171 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in shares of BrightSphere Investment Group by 22.9% during the 3rd quarter. New York State Teachers Retirement System now owns 15,079 shares of the company’s stock worth $292,000 after buying an additional 2,813 shares in the last quarter. 98.69% of the stock is 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.