Brightsphere Investment Group (NYSE:BSIG) PT Raised to $15.00

Brightsphere Investment Group (NYSE:BSIG) had its price target hoisted by Morgan Stanley from $13.00 to $15.00 in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts also recently commented on the stock. Wells Fargo & Co reaffirmed a hold rating on shares of Brightsphere Investment Group in a research note on Thursday, May 7th. Keefe, Bruyette & Woods raised shares of Brightsphere Investment Group from a market perform rating to an outperform rating and upped their price objective for the company from $14.00 to $18.50 in a research note on Tuesday. Zacks Investment Research raised shares of Brightsphere Investment Group from a strong sell rating to a strong-buy rating and set a $11.00 price objective for the company in a research note on Tuesday, June 9th. Finally, Bank of America upped their price objective on shares of Brightsphere Investment Group from $8.00 to $12.00 and gave the company an underperform rating in a research note on Friday, July 10th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $14.17.

NYSE:BSIG opened at $13.44 on Tuesday. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 7.77, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. The company’s 50-day moving average is $11.79 and its two-hundred day moving average is $9.02. Brightsphere Investment Group has a 12-month low of $3.61 and a 12-month high of $14.61.

Brightsphere Investment Group (NYSE:BSIG) last released its earnings results on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.04. Brightsphere Investment Group had a net margin of 25.64% and a return on equity of 1,914.29%. The company had revenue of $182.60 million for the quarter. As a group, equities analysts predict that Brightsphere Investment Group will post 1.56 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Brightsphere Investment Group during the 4th quarter worth approximately $18,255,000. Invesco Ltd. increased its position in Brightsphere Investment Group by 34.9% during the 1st quarter. Invesco Ltd. now owns 434,442 shares of the company’s stock worth $2,776,000 after purchasing an additional 112,409 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Brightsphere Investment Group in the first quarter valued at approximately $2,359,000. BlackRock Inc. raised its stake in shares of Brightsphere Investment Group by 7.5% during the first quarter. BlackRock Inc. now owns 5,339,181 shares of the company’s stock valued at $34,119,000 after purchasing an additional 370,487 shares during the period. Finally, Aperio Group LLC raised its stake in shares of Brightsphere Investment Group by 38.0% during the first quarter. Aperio Group LLC now owns 37,356 shares of the company’s stock valued at $239,000 after purchasing an additional 10,284 shares during the period. 97.02% of the stock is owned by hedge funds and other institutional investors.

Brightsphere Investment Group Company Profile

BrightSphere Investment Group plc 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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Analyst Recommendations for Brightsphere Investment Group (NYSE:BSIG)

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