BrightSphere Investment Group (NYSE:BSIG) Upgraded at StockNews.com

BrightSphere Investment Group (NYSE:BSIG) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

A number of other equities research analysts have also weighed in on the company. Morgan Stanley lowered BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $23.00 to $26.00 in a research note on Friday, October 18th. Royal Bank of Canada boosted their price objective on BrightSphere Investment Group from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday.

BrightSphere Investment Group Price Performance

Shares of BSIG opened at $27.43 on Friday. BrightSphere Investment Group has a 1 year low of $15.23 and a 1 year high of $27.58. The stock has a 50 day simple moving average of $25.00 and a two-hundred day simple moving average of $23.70. The firm has a market cap of $1.02 billion, a P/E ratio of 16.62 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. BrightSphere Investment Group had a net margin of 13.92% and a return on equity of 7,606.72%. The business had revenue of $109.00 million during the quarter, compared to analyst estimates of $104.72 million. During the same period in the prior year, the business posted $0.28 earnings per share. On average, equities analysts anticipate that BrightSphere Investment Group will post 2.4 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Gladius Capital Management LP bought a new stake in shares of BrightSphere Investment Group in the 2nd quarter worth approximately $32,000. Blue Trust Inc. boosted its holdings in BrightSphere Investment Group by 2,397.6% in the third quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock valued at $79,000 after acquiring an additional 2,997 shares in the last quarter. PNC Financial Services Group Inc. increased its position 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 valued at $94,000 after purchasing an additional 1,106 shares during the period. Quest Partners LLC bought a new position in BrightSphere Investment Group in the 2nd quarter worth $147,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in BrightSphere Investment Group by 67.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock worth $195,000 after purchasing an additional 3,561 shares in the last quarter. Institutional investors own 98.69% of the company’s stock.

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.