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

StockNews.com assumed coverage on shares of BrightSphere Investment Group (NYSE:BSIG) in a research note issued to investors on Monday morning. The brokerage issued a buy rating on the stock.

A number of other equities research analysts have also weighed in on BSIG. Morgan Stanley reduced their price objective on BrightSphere Investment Group from $26.00 to $25.00 and set an “underweight” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada downgraded BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $30.00 to $33.00 in a research note on Tuesday, December 10th. BMO Capital Markets reiterated a “sector perform” rating and issued a $33.00 price objective (up previously from $30.00) on shares of BrightSphere Investment Group in a report on Tuesday, December 10th. Finally, Evercore ISI boosted their target price on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. One 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 MarketBeat.com, BrightSphere Investment Group has an average rating of “Hold” and a consensus target price of $30.50.

BrightSphere Investment Group Price Performance

The firm’s 50-day moving average is $29.00 and its 200 day moving average is $25.74. The company has a market cap of $982.96 million, a price-to-earnings 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 issued its earnings results on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $123.10 million for the quarter, compared to analyst estimates 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 business posted $0.45 earnings per share. As a group, equities research analysts predict that BrightSphere Investment Group will post 2.59 EPS for the current year.

Hedge Funds Weigh In On BrightSphere Investment Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. boosted its position in shares of BrightSphere Investment Group by 5.6% during the 2nd quarter. American Century Companies Inc. now owns 50,729 shares of the company’s stock valued at $1,125,000 after purchasing an additional 2,693 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 in the last quarter. Renaissance Technologies LLC lifted its stake in BrightSphere Investment Group by 297.9% during the 2nd quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock valued at $3,414,000 after acquiring an additional 115,300 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of BrightSphere Investment Group in the 2nd quarter worth $1,870,000. Finally, AQR Capital Management LLC raised its holdings in shares of BrightSphere Investment Group by 28.9% in the second quarter. AQR Capital Management LLC now owns 103,690 shares of the company’s stock valued at $2,299,000 after purchasing an additional 23,232 shares during the last quarter. 98.69% of the stock is 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.