BrightSphere Investment Group (NYSE:BSIG) Rating Increased to Buy at StockNews.com

BrightSphere Investment Group (NYSE:BSIG - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Friday.

BSIG has been the subject of several other reports. Morgan Stanley lowered BrightSphere Investment Group from an "equal weight" rating to an "underweight" rating and boosted their target price for the stock from $23.00 to $26.00 in a report on Friday, October 18th. Royal Bank of Canada boosted their price objective on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Friday.

BrightSphere Investment Group Stock Performance

Shares of NYSE BSIG traded up $1.04 during trading hours on Friday, hitting $27.43. The stock had a trading volume of 158,687 shares, compared to its average volume of 258,742. The company has a market capitalization of $1.02 billion, a P/E ratio of 16.52 and a beta of 1.41. The firm's 50-day moving average price is $25.00 and its two-hundred day moving average price is $23.69. BrightSphere Investment Group has a 52 week low of $15.23 and a 52 week high of $27.58.

BrightSphere Investment Group (NYSE:BSIG - Get Free Report) last announced 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 company had revenue of $109.00 million for the quarter, compared to analyst estimates 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 prior year, the business posted $0.28 EPS. As a group, analysts expect that BrightSphere Investment Group will post 2.4 EPS for the current fiscal year.

Institutional Trading of BrightSphere Investment Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Impax Asset Management Group plc grew its holdings in shares of BrightSphere Investment Group by 4.8% during the 3rd quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company's stock worth $27,910,000 after purchasing an additional 50,000 shares in the last quarter. New York State Teachers Retirement System boosted its stake 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 worth $334,000 after buying an additional 2,565 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in BrightSphere Investment Group by 3.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 55,574 shares of the company's stock valued at $1,412,000 after buying an additional 1,805 shares during the period. Blue Trust Inc. raised 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 valued at $79,000 after buying an additional 2,997 shares in the last quarter. Finally, Creative Planning lifted its holdings in shares of BrightSphere Investment Group by 13.1% during the 3rd quarter. Creative Planning now owns 19,853 shares of the company's stock worth $504,000 after acquiring an additional 2,300 shares during the period. 98.69% of the stock is currently owned by institutional investors and hedge funds.

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.

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