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

Equities researchers at StockNews.com started coverage on shares of BrightSphere Investment Group (NYSE:BSIG) in a research note issued on Tuesday. The brokerage set a “buy” rating on the stock.

Several other equities analysts have also issued reports on BSIG. Morgan Stanley cut their target price on BrightSphere Investment Group from $26.00 to $25.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. Royal Bank of Canada lowered BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $30.00 to $33.00 in a research note on Tuesday, December 10th. BMO Capital Markets reiterated a “sector perform” rating and issued a $33.00 target price (up previously from $30.00) on shares of BrightSphere Investment Group in a research note on Tuesday, December 10th. Finally, Evercore ISI lifted their target price on BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.50.

BrightSphere Investment Group Price Performance

The business has a fifty day simple moving average of $29.00 and a 200 day simple moving average of $25.74. BrightSphere Investment Group has a one year low of $18.09 and a one year high of $31.52. The company has a market cap of $982.96 million, a PE ratio of 15.96 and a beta of 1.45.

Institutional Trading of BrightSphere Investment Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC raised its position in shares of BrightSphere Investment Group by 28.9% during the 2nd quarter. AQR Capital Management LLC now owns 103,690 shares of the company’s stock worth $2,299,000 after purchasing an additional 23,232 shares during the period. Creative Planning raised its position in shares of BrightSphere Investment Group by 7.6% during the 2nd quarter. Creative Planning now owns 17,553 shares of the company’s stock worth $389,000 after purchasing an additional 1,235 shares during the period. SG Americas Securities LLC acquired a new stake in shares of BrightSphere Investment Group during the 3rd quarter worth approximately $401,000. Blue Trust Inc. raised its position in shares of BrightSphere Investment Group by 2,397.6% during the 3rd quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock worth $79,000 after purchasing an additional 2,997 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of BrightSphere Investment Group by 3.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 55,574 shares of the company’s stock worth $1,412,000 after purchasing an additional 1,805 shares during the period. 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.