BrightSphere Investment Group (NYSE:BSIG) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of BrightSphere Investment Group (NYSE:BSIG) in a research report issued on Saturday. The firm set a “buy” rating on the stock.

BSIG has been the subject of a number of other reports. Evercore ISI upped their price target on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. BMO Capital Markets reissued a “sector perform” rating and set a $33.00 price objective (up from $30.00) on shares of BrightSphere Investment Group in a research report on Tuesday, December 10th. Royal Bank of Canada downgraded shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $30.00 to $33.00 in a research report on Tuesday, December 10th. Finally, Morgan Stanley reduced their price objective on shares of BrightSphere Investment Group from $26.00 to $25.00 and set an “underweight” rating on the stock in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.50.

BrightSphere Investment Group Price Performance

The firm’s 50 day moving average price is $29.00 and its two-hundred day moving average price is $25.74. BrightSphere Investment Group has a 1-year low of $18.09 and a 1-year high of $31.52. The company has a market cap of $982.96 million, a price-to-earnings ratio of 15.96 and a beta of 1.45.

BrightSphere Investment Group (NYSE:BSIG) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.59 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 company had revenue of $123.10 million during the quarter, compared to analyst estimates of $114.95 million. During the same period in the prior year, the business posted $0.45 EPS. Research analysts predict that BrightSphere Investment Group will post 2.59 EPS for the current fiscal year.

Institutional Trading of BrightSphere Investment Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its position 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 stake in shares of BrightSphere Investment Group in the 2nd quarter worth about $1,204,000. Barclays PLC grew its position in BrightSphere Investment Group by 180.9% during the 3rd quarter. Barclays PLC now owns 66,754 shares of the company’s stock valued at $1,695,000 after purchasing an additional 42,989 shares during the last quarter. Verition Fund Management LLC purchased a new stake in BrightSphere Investment Group during the 3rd quarter valued at about $213,000. Finally, Impax Asset Management Group plc grew its position in BrightSphere Investment Group by 4.8% during the 3rd quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock valued at $27,910,000 after purchasing an additional 50,000 shares during the last quarter. 98.69% of the stock is 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.