BrightSphere Investment Group (NYSE:BSIG) Stock Rating Lowered by Royal Bank of Canada

BrightSphere Investment Group (NYSE:BSIG - Get Free Report) was downgraded by equities research analysts at Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They presently have a $33.00 price objective on the stock, up from their previous price objective of $30.00. Royal Bank of Canada's price target points to a potential upside of 8.59% from the company's current price.

Several other research firms have also recently issued reports on BSIG. Evercore ISI raised their target price on BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. StockNews.com upgraded BrightSphere Investment Group from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley downgraded BrightSphere Investment Group from an "equal weight" rating to an "underweight" rating and upped their target price for the company from $23.00 to $26.00 in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $30.75.

BrightSphere Investment Group Trading Down 0.7 %

Shares of NYSE:BSIG traded down $0.20 during trading on Tuesday, reaching $30.39. 178,653 shares of the company traded hands, compared to its average volume of 252,905. BrightSphere Investment Group has a 52-week low of $18.09 and a 52-week high of $31.52. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 18.21 and a beta of 1.45. The business's fifty day moving average is $28.00 and its 200-day moving average is $25.09.

BrightSphere Investment Group (NYSE:BSIG - Get Free Report) 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, sell-side analysts predict that BrightSphere Investment Group will post 2.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BrightSphere Investment Group

Several hedge funds have recently made changes to their positions in BSIG. Gladius Capital Management LP purchased a new position in BrightSphere Investment Group during the second quarter valued at $32,000. Blue Trust Inc. increased its stake in shares of BrightSphere Investment Group by 2,397.6% in the 3rd quarter. Blue Trust Inc. now owns 3,122 shares of the company's stock worth $79,000 after acquiring an additional 2,997 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of BrightSphere Investment Group in the 3rd quarter worth about $89,000. Quest Partners LLC purchased a new position in BrightSphere Investment Group during the 2nd quarter valued at about $147,000. Finally, Verition Fund Management LLC bought a new stake in BrightSphere Investment Group during the third quarter worth about $213,000. 98.69% of the stock is currently 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.