StockNews.com Begins Coverage on BrightSphere Investment Group (NYSE:BSIG)

Stock analysts at StockNews.com began 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.

Other equities research analysts have also recently issued reports about the company. Evercore ISI lifted their price objective 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 reiterated a “sector perform” rating and set a $33.00 price target (up from $30.00) on shares of BrightSphere Investment Group in a research note on Tuesday, December 10th. Morgan Stanley lowered 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, Royal Bank of Canada downgraded shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $30.00 to $33.00 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $30.50.

BrightSphere Investment Group Stock 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 fifty-two week low of $18.09 and a fifty-two week high of $31.52. The stock 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 (NYSE:BSIG) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $114.95 million. During the same period in the previous year, the firm earned $0.45 EPS. As a group, research analysts anticipate that BrightSphere Investment Group will post 2.59 earnings per share for the current year.

Institutional Investors Weigh In On BrightSphere Investment Group

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of BrightSphere Investment Group by 17.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 264,673 shares of the company’s stock valued at $6,723,000 after acquiring an additional 39,312 shares during the last quarter. DGS Capital Management LLC boosted its holdings in BrightSphere Investment Group by 2.6% in the third quarter. DGS Capital Management LLC now owns 25,153 shares of the company’s stock valued at $639,000 after purchasing an additional 646 shares in the last quarter. Optimist Retirement Group LLC purchased a new position in BrightSphere Investment Group in the third quarter valued at approximately $238,000. Barclays PLC raised its holdings in BrightSphere Investment Group by 180.9% during the third quarter. Barclays PLC now owns 66,754 shares of the company’s stock worth $1,695,000 after purchasing an additional 42,989 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of BrightSphere Investment Group during the 3rd quarter worth approximately $458,000. 98.69% of the stock is owned by hedge funds and other 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.