BrightSphere Investment Group (NYSE:BSIG) Earns Buy Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of BrightSphere Investment Group (NYSE:BSIG) in a research note released on Monday morning. The firm issued a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada downgraded shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $30.00 to $33.00 in a research note on Tuesday, December 10th. Evercore ISI increased their price target on BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Morgan Stanley lowered their price target on 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. Finally, BMO Capital Markets reissued a “sector perform” rating and issued a $33.00 price objective (up previously from $30.00) on shares of BrightSphere Investment Group in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.50.

BrightSphere Investment Group Stock Performance

The firm has a market cap of $982.96 million, a price-to-earnings ratio of 15.96 and a beta of 1.45. The company has a 50-day moving average price of $29.00 and a 200 day moving average price of $25.74. BrightSphere Investment Group has a 1 year low of $18.09 and a 1 year high of $31.52.

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

Institutional Trading of BrightSphere Investment Group

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised its stake in BrightSphere Investment Group by 2,397.6% in the 3rd 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 during the period. Point72 Asset Management L.P. acquired a new stake in shares of BrightSphere Investment Group during the 3rd quarter worth about $89,000. Verition Fund Management LLC acquired a new position in BrightSphere Investment Group in the 3rd quarter valued at about $213,000. Optimist Retirement Group LLC bought a new position in BrightSphere Investment Group in the 3rd quarter valued at about $238,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in BrightSphere Investment Group during the third quarter worth approximately $311,000. 98.69% of the stock is owned by institutional investors and hedge funds.

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.