Morgan Stanley Has Lowered Expectations for BrightSphere Investment Group (NYSE:BSIG) Stock Price

BrightSphere Investment Group (NYSE:BSIG) had its price objective reduced by equities research analysts at Morgan Stanley from $26.00 to $25.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Morgan Stanley’s price objective points to a potential downside of 8.36% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Evercore ISI lifted their price objective on BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. BMO Capital Markets restated a “sector perform” rating and set a $33.00 price target (up previously from $30.00) on shares of BrightSphere Investment Group in a report on Tuesday, December 10th. Finally, Royal Bank of Canada lowered BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $30.00 to $33.00 in a research report on Tuesday, December 10th. One equities 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 stock. According to data from MarketBeat.com, BrightSphere Investment Group has an average rating of “Hold” and an average price target of $30.50.

BrightSphere Investment Group Price Performance

BSIG stock traded down $0.74 during mid-day trading on Friday, hitting $27.28. 152,209 shares of the stock were exchanged, compared to its average volume of 251,925. The business has a fifty day moving average price of $28.95 and a 200 day moving average price of $25.45. BrightSphere Investment Group has a 12 month low of $18.09 and a 12 month high of $31.52. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 16.53 and a beta of 1.45.

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

Institutional Investors Weigh In On BrightSphere Investment Group

Several institutional investors and hedge funds have recently made changes to their positions in BSIG. Azora Capital LP lifted its holdings in shares of BrightSphere Investment Group by 10.7% during the third quarter. Azora Capital LP now owns 2,028,358 shares of the company’s stock valued at $51,520,000 after purchasing an additional 195,728 shares in the last quarter. Jennison Associates LLC boosted its holdings in BrightSphere Investment Group by 25.3% in the third quarter. Jennison Associates LLC now owns 968,936 shares of the company’s stock worth $24,611,000 after purchasing an additional 195,417 shares during the last quarter. Renaissance Technologies LLC raised its stake in BrightSphere Investment Group by 297.9% during the 2nd quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock valued at $3,414,000 after buying an additional 115,300 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of BrightSphere Investment Group in the 2nd quarter worth $1,870,000. Finally, Maverick Capital Ltd. purchased a new stake in BrightSphere Investment Group during the second quarter valued at $1,204,000. Institutional investors own 98.69% of the company’s stock.

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.