StockNews.com Initiates Coverage on BrightSphere Investment Group (NYSE:BSIG)

Stock analysts at StockNews.com assumed coverage on shares of BrightSphere Investment Group (NYSE:BSIG) in a research report issued to clients and investors on Tuesday. The firm set a “buy” rating on the stock.

Other equities analysts also recently issued reports about the stock. Evercore ISI increased their price objective 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 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 research report on Tuesday, December 10th. Royal Bank of Canada cut 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 report on Tuesday, December 10th. Finally, Morgan Stanley reduced their target price on BrightSphere Investment Group from $26.00 to $25.00 and set an “underweight” rating for the company in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $30.50.

BrightSphere Investment Group Price Performance

The stock has a market capitalization of $982.96 million, a PE ratio of 15.96 and a beta of 1.45. 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 12-month low of $18.09 and a 12-month high of $31.52.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. increased its stake in shares of BrightSphere Investment Group by 2,397.6% in the 3rd quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock worth $79,000 after acquiring an additional 2,997 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of BrightSphere Investment Group in the 3rd quarter valued at approximately $89,000. Verition Fund Management LLC acquired a new stake in shares of BrightSphere Investment Group during the 3rd quarter worth approximately $213,000. Optimist Retirement Group LLC purchased a new stake in shares of BrightSphere Investment Group during the 3rd quarter valued at approximately $238,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in BrightSphere Investment Group in the third quarter valued at approximately $311,000. 98.69% of the stock is currently owned by institutional investors and hedge funds.

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.