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

Equities researchers at StockNews.com started coverage on shares of BrightSphere Investment Group (NYSE:BSIG) in a research note issued to investors on Saturday. The brokerage set a “buy” rating on the stock.

A number of other research analysts also recently issued reports on BSIG. Royal Bank of Canada downgraded BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $30.00 to $33.00 in a report on Tuesday, December 10th. Morgan Stanley decreased 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 report on Friday, December 20th. Evercore ISI boosted their price target on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Finally, BMO Capital Markets reaffirmed a “sector perform” rating and set a $33.00 price objective (up from $30.00) on shares of BrightSphere Investment Group in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.50.

BrightSphere Investment Group Price Performance

The company 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 12-month low of $18.09 and a 12-month high of $31.52. The company has a fifty day moving average of $29.00 and a 200 day 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 for the quarter, beating the consensus estimate of $0.52 by $0.07. BrightSphere Investment Group had a net margin of 13.92% and a return on equity of 7,606.72%. The business had revenue of $123.10 million during the quarter, compared to analysts’ expectations of $114.95 million. During the same quarter in the prior year, the company posted $0.45 EPS. On average, equities analysts forecast that BrightSphere Investment Group will post 2.59 EPS for the current year.

Institutional Trading of BrightSphere Investment Group

Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake 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 worth $3,414,000 after buying an additional 115,300 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in shares of BrightSphere Investment Group during the second quarter valued at $1,204,000. Barclays PLC raised its position in BrightSphere Investment Group by 180.9% in the 3rd quarter. Barclays PLC now owns 66,754 shares of the company’s stock worth $1,695,000 after buying an additional 42,989 shares during the last quarter. Verition Fund Management LLC bought a new position in BrightSphere Investment Group during the 3rd quarter valued at about $213,000. Finally, Impax Asset Management Group plc grew its stake in shares of BrightSphere Investment Group by 4.8% in the third quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock worth $27,910,000 after acquiring an additional 50,000 shares during the period. 98.69% of the stock is owned by institutional investors.

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.