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

StockNews.com started coverage on shares of BrightSphere Investment Group (NYSE:BSIG) in a report published on Monday. The firm issued a buy rating on the stock.

Other analysts have also issued reports about the company. BMO Capital Markets reissued a “sector perform” rating and set a $33.00 target price (up from $30.00) on shares of BrightSphere Investment Group in a report on Tuesday, December 10th. Morgan Stanley decreased their target price on shares of BrightSphere Investment Group from $26.00 to $25.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Evercore ISI upped their price target on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada lowered shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $30.00 to $33.00 in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.50.

BrightSphere Investment Group Price Performance

The firm has a 50-day simple moving average of $29.00 and a 200-day simple moving average of $25.74. BrightSphere Investment Group has a twelve month low of $18.09 and a twelve month high of $31.52. The company has a market cap of $982.96 million, a P/E ratio of 15.96 and a beta of 1.45.

BrightSphere Investment Group (NYSE:BSIG) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.07. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. The business had revenue of $123.10 million during the quarter, compared to analysts’ expectations of $114.95 million. During the same period in the previous year, the company posted $0.45 earnings per share. As a group, research analysts forecast that BrightSphere Investment Group will post 2.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BSIG. Blue Trust Inc. grew its holdings 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 valued at $79,000 after purchasing an additional 2,997 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of BrightSphere Investment Group during the third quarter worth $89,000. Verition Fund Management LLC acquired a new position in shares of BrightSphere Investment Group during the third quarter worth $213,000. Optimist Retirement Group LLC bought a new position in shares of BrightSphere Investment Group in the 3rd quarter valued at $238,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in BrightSphere Investment Group during the 3rd quarter worth $311,000. 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.