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

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

A number of other equities analysts also recently commented on the company. Evercore ISI lifted their price target on 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 decreased their price target on 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. Royal Bank of Canada downgraded BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $30.00 to $33.00 in a research note on Tuesday, December 10th. Finally, BMO Capital Markets restated a “sector perform” rating and issued a $33.00 target price (up 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 issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $30.50.

BrightSphere Investment Group Price Performance

The firm has a 50 day moving average of $29.00 and a 200-day moving average of $25.74. BrightSphere Investment Group has a 52-week low of $18.09 and a 52-week high of $31.52. The stock has a market capitalization of $982.96 million, a price-to-earnings ratio of 15.96 and a beta of 1.45.

Institutional Investors Weigh In On BrightSphere Investment Group

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in BrightSphere Investment Group by 2,397.6% during the third quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock valued at $79,000 after purchasing an additional 2,997 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in BrightSphere Investment Group during the third quarter valued at approximately $89,000. Verition Fund Management LLC bought a new stake in shares of BrightSphere Investment Group in the 3rd quarter worth approximately $213,000. Optimist Retirement Group LLC bought a new stake in shares of BrightSphere Investment Group in the 3rd quarter worth approximately $238,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of BrightSphere Investment Group in the 3rd quarter worth approximately $311,000. 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.