BrightSphere Investment Group (NYSE:BSIG) Price Target Increased to $28.00 by Analysts at Royal Bank of Canada

BrightSphere Investment Group (NYSE:BSIG) had its target price increased by stock analysts at Royal Bank of Canada from $26.00 to $28.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 7.53% from the stock’s current price.

Separately, StockNews.com cut BrightSphere Investment Group from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd.

BrightSphere Investment Group Trading Up 6.2 %

NYSE BSIG opened at $26.04 on Friday. BrightSphere Investment Group has a 1 year low of $15.23 and a 1 year high of $26.57. The company has a market cap of $965.30 million, a PE ratio of 15.69 and a beta of 1.41. The stock’s 50-day moving average price is $23.90 and its two-hundred day moving average price is $23.31.

BrightSphere Investment Group (NYSE:BSIG) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. BrightSphere Investment Group had a net margin of 15.00% and a return on equity of 871.33%. The business had revenue of $109.00 million during the quarter, compared to the consensus estimate of $104.72 million. During the same quarter in the prior year, the firm earned $0.28 EPS. Research analysts forecast that BrightSphere Investment Group will post 2.31 EPS for the current fiscal year.

Institutional Investors Weigh In On BrightSphere Investment Group

A number of institutional investors have recently modified their holdings of the stock. Texas Permanent School Fund Corp boosted its position in BrightSphere Investment Group by 3.4% during the first quarter. Texas Permanent School Fund Corp now owns 28,335 shares of the company’s stock valued at $647,000 after purchasing an additional 924 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of BrightSphere Investment Group by 29.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,885 shares of the company’s stock valued at $94,000 after buying an additional 1,106 shares during the last quarter. Creative Planning grew its stake in shares of BrightSphere Investment Group by 7.6% in the 2nd quarter. Creative Planning now owns 17,553 shares of the company’s stock valued at $389,000 after buying an additional 1,235 shares in the last quarter. Gladius Capital Management LP acquired a new position in BrightSphere Investment Group in the second quarter worth approximately $32,000. Finally, Linden Thomas Advisory Services LLC increased its holdings in BrightSphere Investment Group by 9.9% in the second quarter. Linden Thomas Advisory Services LLC now owns 20,960 shares of the company’s stock worth $465,000 after buying an additional 1,889 shares during the last quarter. Institutional investors and hedge funds 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.