BrightSphere Investment Group (NYSE:BSIG) Hits New 1-Year High - Here's What Happened

BrightSphere Investment Group Inc. (NYSE:BSIG - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $27.58 and last traded at $27.11, with a volume of 3367 shares trading hands. The stock had previously closed at $26.37.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BSIG shares. Morgan Stanley cut shares of BrightSphere Investment Group from an "equal weight" rating to an "underweight" rating and increased their price objective for the stock from $23.00 to $26.00 in a research report on Friday, October 18th. Royal Bank of Canada raised their price target on BrightSphere Investment Group from $26.00 to $28.00 and gave the stock an "outperform" rating in a research report on Friday, October 11th. Finally, StockNews.com downgraded BrightSphere Investment Group from a "buy" rating to a "hold" rating in a report on Monday, July 22nd.

BrightSphere Investment Group Stock Performance

The stock has a market capitalization of $996.59 million, a PE ratio of 16.08 and a beta of 1.41. The firm's 50 day moving average is $24.86 and its two-hundred day moving average is $23.64.

BrightSphere Investment Group (NYSE:BSIG - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. The business had revenue of $109.00 million during the quarter, compared to the consensus estimate of $104.72 million. BrightSphere Investment Group had a net margin of 15.00% and a return on equity of 871.33%. During the same quarter in the previous year, the firm posted $0.28 earnings per share. On average, analysts anticipate that BrightSphere Investment Group Inc. will post 2.4 EPS for the current year.

Institutional Investors Weigh In On BrightSphere Investment Group

Large investors have recently bought and sold shares of the stock. Gladius Capital Management LP purchased a new stake in shares of BrightSphere Investment Group during the second quarter worth approximately $32,000. Blue Trust Inc. grew its holdings in BrightSphere Investment Group by 2,397.6% during 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. PNC Financial Services Group Inc. increased its position in shares of BrightSphere Investment Group by 29.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,885 shares of the company's stock valued at $94,000 after purchasing an additional 1,106 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of BrightSphere Investment Group in the 2nd quarter valued at $147,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of BrightSphere Investment Group by 67.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company's stock worth $195,000 after purchasing an additional 3,561 shares during the last quarter. Hedge funds and other 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.