BrightSphere Investment Group (NYSE:BSIG) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

BrightSphere Investment Group (NYSE:BSIG) had its price objective lifted by equities researchers at Royal Bank of Canada from $28.00 to $30.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 9.37% from the company’s previous close.

BSIG has been the subject of several other research reports. StockNews.com downgraded shares of BrightSphere Investment Group from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Morgan Stanley downgraded shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $23.00 to $26.00 in a research report on Friday, October 18th.

BrightSphere Investment Group Trading Up 3.9 %

Shares of NYSE:BSIG opened at $27.43 on Friday. The company has a market capitalization of $1.02 billion, a PE ratio of 16.62 and a beta of 1.41. BrightSphere Investment Group has a twelve month low of $15.23 and a twelve month high of $27.58. The firm has a 50 day simple moving average of $25.00 and a 200-day simple moving average of $23.70.

BrightSphere Investment Group (NYSE:BSIG) last released 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 13.92% and a return on equity of 7,606.72%. The firm 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. As a group, equities research analysts predict that BrightSphere Investment Group will post 2.4 EPS for the current fiscal year.

Hedge Funds Weigh In On BrightSphere Investment Group

A number of institutional investors and hedge funds have recently made changes to their positions in BSIG. PNC Financial Services Group Inc. grew its stake 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 worth $94,000 after purchasing an additional 1,106 shares during the period. Capstone Investment Advisors LLC acquired a new stake in BrightSphere Investment Group in the 1st quarter valued at about $378,000. Jennison Associates LLC grew its stake in BrightSphere Investment Group by 29.4% in the 1st quarter. Jennison Associates LLC now owns 759,391 shares of the company’s stock valued at $17,344,000 after acquiring an additional 172,318 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in BrightSphere Investment Group by 3.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 28,335 shares of the company’s stock valued at $647,000 after acquiring an additional 924 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in BrightSphere Investment Group in the 1st quarter valued at about $1,292,000. 98.69% of the stock is 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.