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

BrightSphere Investment Group (NYSE:BSIG) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

A number of other equities research analysts have also commented on BSIG. Morgan Stanley lowered BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and increased their price target 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 $28.00 to $30.00 and gave the company an “outperform” rating in a report on Friday.

BrightSphere Investment Group Stock Performance

Shares of NYSE:BSIG traded up $1.04 on Friday, hitting $27.43. The stock had a trading volume of 158,687 shares, compared to its average volume of 258,742. The firm’s 50 day moving average price is $25.00 and its 200-day moving average price is $23.69. BrightSphere Investment Group has a twelve month low of $15.23 and a twelve month high of $27.58. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 16.52 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. BrightSphere Investment Group had a net margin of 15.00% and a return on equity of 871.33%. The firm had revenue of $109.00 million for the quarter, compared to analysts’ expectations of $104.72 million. During the same period in the prior year, the firm earned $0.28 earnings per share. As a group, sell-side analysts predict that BrightSphere Investment Group will post 2.4 EPS for the current year.

Hedge Funds Weigh In On BrightSphere Investment Group

Several hedge funds have recently added to or reduced their stakes in BSIG. Impax Asset Management Group plc grew its position 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 buying an additional 50,000 shares during the period. New York State Teachers Retirement System boosted its stake in BrightSphere Investment Group by 24.3% during the 3rd quarter. New York State Teachers Retirement System now owns 13,132 shares of the company’s stock worth $334,000 after acquiring an additional 2,565 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in 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 valued at $1,412,000 after purchasing an additional 1,805 shares during the period. Blue Trust Inc. increased its stake in BrightSphere Investment Group by 2,397.6% in the third quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock valued at $79,000 after purchasing an additional 2,997 shares in the last quarter. Finally, Creative Planning raised 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 worth $504,000 after purchasing an additional 2,300 shares during the period. Institutional investors and hedge funds 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.