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

StockNews.com began coverage on shares of BrightSphere Investment Group (NYSE:BSIG) in a research report issued on Sunday. The brokerage set a “buy” rating on the stock.

Several other brokerages also recently weighed in on BSIG. Morgan Stanley cut their price target 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. Royal Bank of Canada cut shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $30.00 to $33.00 in a report on Tuesday, December 10th. BMO Capital Markets reaffirmed a “sector perform” rating and issued a $33.00 price target (up from $30.00) on shares of BrightSphere Investment Group in a report on Tuesday, December 10th. Finally, Evercore ISI increased their price target on BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, BrightSphere Investment Group has a consensus rating of “Hold” and a consensus price target of $30.50.

BrightSphere Investment Group Price Performance

The firm’s fifty day moving average is $29.00 and its two-hundred day moving average is $25.74. BrightSphere Investment Group has a 1-year low of $18.09 and a 1-year 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.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BSIG. Renaissance Technologies LLC raised its stake in shares of BrightSphere Investment Group by 297.9% during the 2nd 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 during the period. Maverick Capital Ltd. purchased a new stake in BrightSphere Investment Group in the 2nd quarter worth $1,204,000. Barclays PLC raised its position 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 acquiring an additional 42,989 shares during the period. Verition Fund Management LLC purchased a new position in BrightSphere Investment Group during the third quarter valued at $213,000. Finally, Impax Asset Management Group plc grew its position 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 valued at $27,910,000 after purchasing an additional 50,000 shares during the period. Institutional investors and hedge funds own 98.69% of the company’s stock.

BrightSphere Investment Group Company Profile

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.