BrightSphere Investment Group (NYSE:BSIG) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research note issued on Wednesday, Zacks.com reports. The brokerage currently has a $24.00 target price on the stock. Zacks Investment Research's price target indicates a potential upside of 13.85% from the stock's previous close.
According to Zacks, "BrightSphere Investment Group plc is a diversified multi-boutique asset management company. The Company focuses on equities and fixed income portfolios, as well as investments in timber and real estate sectors. BrightSphere Investment Group plc, formerly known as OM Asset Management plc, is based in London, United Kingdom. "
Other equities research analysts have also issued reports about the company. ValuEngine lowered BrightSphere Investment Group from a "sell" rating to a "strong sell" rating in a research report on Tuesday, December 1st. Wells Fargo & Company lifted their price target on BrightSphere Investment Group from $15.00 to $16.50 and gave the company an "equal weight" rating in a report on Friday, October 16th. Finally, Morgan Stanley lifted their price target on BrightSphere Investment Group from $15.50 to $21.00 and gave the company an "equal weight" rating in a report on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of "Hold" and a consensus target price of $18.43.
NYSE BSIG traded up $0.08 on Wednesday, reaching $21.08. 264,402 shares of the stock traded hands, compared to its average volume of 556,463. The company has a fifty day moving average price of $19.01 and a 200-day moving average price of $15.19. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 3.35 and a beta of 1.86. BrightSphere Investment Group has a 12 month low of $3.61 and a 12 month high of $21.25.
BrightSphere Investment Group (NYSE:BSIG) last issued its earnings results on Thursday, October 29th. The company reported $0.47 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.42 by $0.05. The business had revenue of $182.40 million during the quarter. BrightSphere Investment Group had a return on equity of 80.30% and a net margin of 20.95%. Equities analysts anticipate that BrightSphere Investment Group will post 1.71 EPS for the current year.
A number of hedge funds have recently made changes to their positions in BSIG. BlackRock Inc. grew its stake in BrightSphere Investment Group by 19.6% during the 3rd quarter. BlackRock Inc. now owns 9,062,411 shares of the company's stock worth $116,906,000 after buying an additional 1,486,312 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in BrightSphere Investment Group during the 3rd quarter valued at about $14,266,000. Schonfeld Strategic Advisors LLC grew its stake in BrightSphere Investment Group by 84.6% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,729,951 shares of the company's stock valued at $22,317,000 after purchasing an additional 792,917 shares during the last quarter. Point72 Asset Management L.P. grew its stake in BrightSphere Investment Group by 2,058.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 809,293 shares of the company's stock valued at $10,440,000 after purchasing an additional 771,793 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in BrightSphere Investment Group during the 2nd quarter valued at about $6,340,000. Hedge funds and other institutional investors own 99.22% 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.
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