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

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

Other analysts also recently issued reports about the company. Evercore ISI boosted their price target 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. Morgan Stanley reduced their target price on shares of BrightSphere Investment Group from $26.00 to $25.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. Royal Bank of Canada lowered shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $30.00 to $33.00 in a research report on Tuesday, December 10th. 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $30.50.

BrightSphere Investment Group Stock Performance

The firm has a market cap of $982.96 million, a PE ratio of 15.96 and a beta of 1.45. The business’s 50-day moving average is $29.00 and its 200-day moving average is $25.74. BrightSphere Investment Group has a 12 month low of $18.09 and a 12 month high of $31.52.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BSIG. DGS Capital Management LLC grew its stake in BrightSphere Investment Group by 2.6% during the third quarter. DGS Capital Management LLC now owns 25,153 shares of the company’s stock worth $639,000 after buying an additional 646 shares in the last quarter. Creative Planning boosted 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 acquiring an additional 1,235 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in BrightSphere Investment Group by 3.4% in the third quarter. Assenagon Asset Management S.A. now owns 55,574 shares of the company’s stock valued at $1,412,000 after acquiring an additional 1,805 shares during the last quarter. New York State Teachers Retirement System raised its position in BrightSphere Investment Group by 24.3% during the third quarter. New York State Teachers Retirement System now owns 13,132 shares of the company’s stock valued at $334,000 after purchasing an additional 2,565 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in BrightSphere Investment Group by 5.6% during the second quarter. American Century Companies Inc. now owns 50,729 shares of the company’s stock worth $1,125,000 after purchasing an additional 2,693 shares during the last quarter. Institutional investors and hedge funds 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.