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

Stock analysts at StockNews.com assumed coverage on shares of BrightSphere Investment Group (NYSE:BSIG) in a note issued to investors on Monday. The firm set a “buy” rating on the stock.

A number of other equities analysts have also issued reports on the company. Evercore ISI increased 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. BMO Capital Markets restated 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 report on Tuesday, December 10th. Morgan Stanley dropped their target price on shares of BrightSphere Investment Group from $26.00 to $25.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Finally, Royal Bank of Canada lowered shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $30.00 to $33.00 in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.50.

BrightSphere Investment Group Stock Performance

The firm 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. The stock has a 50 day simple moving average of $29.00 and a two-hundred day simple moving average of $25.74.

BrightSphere Investment Group (NYSE:BSIG) last announced its quarterly earnings results 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. The business had revenue of $123.10 million for the quarter, compared to the consensus estimate of $114.95 million. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. During the same quarter last year, the business posted $0.45 EPS. On average, research analysts predict that BrightSphere Investment Group will post 2.59 EPS for the current year.

Institutional Trading of BrightSphere Investment Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSIG. Azora Capital LP raised its holdings in BrightSphere Investment Group by 10.7% in the third quarter. Azora Capital LP now owns 2,028,358 shares of the company’s stock worth $51,520,000 after purchasing an additional 195,728 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of BrightSphere Investment Group by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,126,772 shares of the company’s stock valued at $24,980,000 after purchasing an additional 4,399 shares during the last quarter. Impax Asset Management Group plc lifted its position in BrightSphere Investment Group by 4.8% during the 3rd quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock worth $27,910,000 after buying an additional 50,000 shares in the last quarter. Jennison Associates LLC boosted its position in BrightSphere Investment Group by 25.3% during the third quarter. Jennison Associates LLC now owns 968,936 shares of the company’s stock valued at $24,611,000 after purchasing an additional 195,417 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of BrightSphere Investment Group by 17.4% in the third quarter. JPMorgan Chase & Co. now owns 264,673 shares of the company’s stock valued at $6,723,000 after buying an additional 39,312 shares in the last quarter. 98.69% of the stock is currently 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.