BrightSphere Investment Group (NYSE:BSIG) Stock Rating Upgraded by StockNews.com

BrightSphere Investment Group (NYSE:BSIG) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

A number of other research analysts have also weighed in on BSIG. Royal Bank of Canada lifted their price objective on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley cut BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and lifted their price target for the company from $23.00 to $26.00 in a research report on Friday, October 18th.

BrightSphere Investment Group Price Performance

NYSE:BSIG opened at $27.43 on Friday. BrightSphere Investment Group has a 1 year low of $15.23 and a 1 year high of $27.58. The business has a fifty day simple moving average of $25.00 and a two-hundred day simple moving average of $23.70. The company has a market capitalization of $1.02 billion, a P/E ratio of 16.62 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $109.00 million for the quarter, compared to analysts’ expectations of $104.72 million. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. During the same period in the previous year, the business posted $0.28 EPS. As a group, analysts anticipate that BrightSphere Investment Group will post 2.4 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of BrightSphere Investment Group by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,126,772 shares of the company’s stock worth $24,980,000 after purchasing an additional 4,399 shares in the last quarter. Impax Asset Management Group plc grew its stake in BrightSphere Investment Group by 4.8% in the 3rd quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock worth $27,910,000 after buying an additional 50,000 shares in the last quarter. Jennison Associates LLC grew its stake in BrightSphere Investment Group by 29.4% in the 1st quarter. Jennison Associates LLC now owns 759,391 shares of the company’s stock worth $17,344,000 after buying an additional 172,318 shares in the last quarter. Denali Advisors LLC increased its holdings in shares of BrightSphere Investment Group by 1.9% in the 2nd quarter. Denali Advisors LLC now owns 160,000 shares of the company’s stock worth $3,547,000 after buying an additional 2,909 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position 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 valued at $3,414,000 after buying an additional 115,300 shares in the last quarter. Institutional investors 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.