BrightSphere Investment Group (NYSE:BSIG) Now Covered by Analysts at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of BrightSphere Investment Group (NYSE:BSIG) in a report released on Saturday. The brokerage set a “buy” rating on the stock.

Several other research firms also recently weighed in on BSIG. Royal Bank of Canada downgraded shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $30.00 to $33.00 in a research note on Tuesday, December 10th. Evercore ISI boosted 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 research note on Thursday, November 7th. Morgan Stanley reduced their price objective on shares of BrightSphere Investment Group from $26.00 to $25.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Finally, BMO Capital Markets reaffirmed a “sector perform” rating and set a $33.00 price objective (up previously from $30.00) on shares of BrightSphere Investment Group in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.50.

BrightSphere Investment Group Stock Performance

The company has a market capitalization of $982.96 million, a price-to-earnings ratio of 15.96 and a beta of 1.45. BrightSphere Investment Group has a 12-month low of $18.09 and a 12-month high of $31.52. The stock has a 50 day moving average of $29.00 and a 200-day moving average of $25.74.

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

Institutional Investors Weigh In On BrightSphere Investment Group

Several hedge funds have recently bought and sold shares of the stock. DGS Capital Management LLC lifted its holdings in shares of BrightSphere Investment Group by 2.6% in the 3rd quarter. DGS Capital Management LLC now owns 25,153 shares of the company’s stock worth $639,000 after acquiring an additional 646 shares during the last quarter. Creative Planning lifted its holdings 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 worth $389,000 after acquiring an additional 1,235 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of BrightSphere Investment Group by 3.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 55,574 shares of the company’s stock worth $1,412,000 after acquiring an additional 1,805 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of BrightSphere Investment Group by 24.3% in the 3rd quarter. New York State Teachers Retirement System now owns 13,132 shares of the company’s stock worth $334,000 after acquiring an additional 2,565 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of 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 during the last quarter. 98.69% of the stock is currently owned by institutional investors.

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.