BrightSphere Investment Group (NYSE:BSIG) Given New $30.00 Price Target at Royal Bank of Canada

BrightSphere Investment Group (NYSE:BSIG - Get Free Report) had its target price lifted by stock analysts at Royal Bank of Canada from $28.00 to $30.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank of Canada's target price indicates a potential upside of 9.37% from the stock's current price.

Several other research analysts also recently issued reports on the stock. Morgan Stanley downgraded shares of BrightSphere Investment Group from an "equal weight" rating to an "underweight" rating and boosted their price objective for the stock from $23.00 to $26.00 in a report on Friday, October 18th. StockNews.com downgraded BrightSphere Investment Group from a "buy" rating to a "hold" rating in a research report on Monday, July 22nd.

BrightSphere Investment Group Trading Up 3.9 %

BrightSphere Investment Group stock traded up $1.04 on Friday, reaching $27.43. 158,687 shares of the stock were exchanged, compared to its average volume of 258,742. BrightSphere Investment Group has a twelve month low of $15.23 and a twelve month high of $27.58. The firm has a fifty day moving average price of $25.00 and a two-hundred day moving average price of $23.69. The stock has a market cap of $1.02 billion, a PE ratio of 16.52 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG - Get Free Report) last issued 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. BrightSphere Investment Group had a return on equity of 871.33% and a net margin of 15.00%. The company had revenue of $109.00 million for the quarter, compared to the consensus estimate of $104.72 million. During the same period in the previous year, the business posted $0.28 EPS. Equities analysts anticipate that BrightSphere Investment Group will post 2.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BSIG. Impax Asset Management Group plc increased its position 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 valued at $27,910,000 after acquiring an additional 50,000 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of BrightSphere Investment Group by 24.3% in the 3rd quarter. New York State Teachers Retirement System now owns 13,132 shares of the company's stock valued at $334,000 after buying an additional 2,565 shares during the period. Assenagon Asset Management S.A. raised its position in shares of BrightSphere Investment Group by 3.4% during the third quarter. Assenagon Asset Management S.A. now owns 55,574 shares of the company's stock worth $1,412,000 after acquiring an additional 1,805 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of BrightSphere Investment Group by 2,397.6% during the third quarter. Blue Trust Inc. now owns 3,122 shares of the company's stock valued at $79,000 after acquiring an additional 2,997 shares during the period. Finally, Creative Planning boosted its holdings in BrightSphere Investment Group by 13.1% in the third quarter. Creative Planning now owns 19,853 shares of the company's stock valued at $504,000 after acquiring an additional 2,300 shares during the last quarter. 98.69% of the stock is owned by institutional investors.

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.