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

Stock analysts at StockNews.com began coverage on shares of BrightSphere Investment Group (NYSE:BSIG) in a research note issued on Saturday. The brokerage set a “buy” rating on the stock.

A number of other brokerages have also recently issued reports on BSIG. Evercore ISI increased their price objective on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Morgan Stanley dropped 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. BMO Capital Markets reissued a “sector perform” rating and set a $33.00 price objective (up previously from $30.00) on shares of BrightSphere Investment Group in a report on Tuesday, December 10th. Finally, Royal Bank of Canada downgraded BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $30.00 to $33.00 in a research report on Tuesday, December 10th. 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. According to data from MarketBeat.com, BrightSphere Investment Group presently has a consensus rating of “Hold” and an average target price of $30.50.

BrightSphere Investment Group Stock Performance

The business has a 50-day simple moving average of $29.00 and a 200 day simple moving average of $25.74. The stock has a market capitalization of $982.96 million, a P/E ratio of 15.96 and a beta of 1.45. 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 released its earnings results on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. The company had revenue of $123.10 million for the quarter, compared to the consensus estimate of $114.95 million. During the same period in the previous year, the business earned $0.45 earnings per share. As a group, research analysts predict that BrightSphere Investment Group will post 2.59 EPS for the current fiscal year.

Hedge Funds Weigh In On BrightSphere Investment Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Quest Partners LLC bought a new position in shares of BrightSphere Investment Group during the second quarter valued at approximately $147,000. American Century Companies Inc. grew its stake in BrightSphere Investment Group by 5.6% in the 2nd quarter. American Century Companies Inc. now owns 50,729 shares of the company’s stock worth $1,125,000 after acquiring an additional 2,693 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of BrightSphere Investment Group by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,126,772 shares of the company’s stock valued at $24,980,000 after acquiring an additional 4,399 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of BrightSphere Investment Group by 297.9% in the second quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock valued at $3,414,000 after purchasing an additional 115,300 shares during the period. Finally, Denali Advisors LLC grew its stake in BrightSphere Investment Group by 1.9% in the second quarter. Denali Advisors LLC now owns 160,000 shares of the company’s stock worth $3,547,000 after purchasing an additional 2,909 shares in the last quarter. Hedge funds and other institutional investors 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.