StockNews.com Upgrades BrightSphere Investment Group (NYSE:BSIG) to Buy

BrightSphere Investment Group (NYSE:BSIG - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Tuesday.

Several other equities analysts have also recently weighed in on BSIG. 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. Royal Bank of Canada increased their price objective on BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, Evercore ISI raised their price objective on BrightSphere Investment Group from $28.00 to $31.00 and gave the company an "in-line" rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $29.00.

BrightSphere Investment Group Price Performance

NYSE BSIG traded up $0.03 on Tuesday, reaching $30.15. The stock had a trading volume of 210,723 shares, compared to its average volume of 258,773. The firm has a fifty day moving average of $25.60 and a two-hundred day moving average of $23.96. The company has a market cap of $1.12 billion, a P/E ratio of 18.25 and a beta of 1.41. BrightSphere Investment Group has a 1-year low of $16.01 and a 1-year high of $30.49.

BrightSphere Investment Group (NYSE:BSIG - Get Free Report) last issued 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 company 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 firm posted $0.45 earnings per share. Research analysts predict that BrightSphere Investment Group will post 2.59 EPS for the current fiscal year.

Institutional Investors Weigh In On BrightSphere Investment Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC increased its position in BrightSphere Investment Group by 25.3% during the third quarter. Jennison Associates LLC now owns 968,936 shares of the company's stock worth $24,611,000 after purchasing an additional 195,417 shares during the last quarter. Quest Partners LLC raised its position in shares of BrightSphere Investment Group by 329.0% during the 3rd quarter. Quest Partners LLC now owns 28,459 shares of the company's stock worth $723,000 after buying an additional 21,825 shares in the last quarter. GSA Capital Partners LLP raised its holdings in shares of BrightSphere Investment Group by 29.4% in the 3rd quarter. GSA Capital Partners LLP now owns 46,993 shares of the company's stock worth $1,194,000 after purchasing an additional 10,674 shares in the last quarter. Impax Asset Management Group plc increased 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 worth $27,910,000 after acquiring an additional 50,000 shares in the last quarter. Finally, New York State Teachers Retirement System grew its position in BrightSphere Investment Group by 24.3% during the third quarter. New York State Teachers Retirement System now owns 13,132 shares of the company's stock valued at $334,000 after purchasing an additional 2,565 shares in the last quarter. 98.69% of the stock is currently owned by institutional investors and hedge funds.

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.