BrightSphere Investment Group (NYSE:BSIG) Upgraded by StockNews.com to "Buy"

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

Other research analysts have also recently issued reports about the stock. Morgan Stanley raised their target price on shares of BrightSphere Investment Group from $20.00 to $22.00 and gave the stock an "equal weight" rating in a report on Friday, January 19th. Royal Bank of Canada restated an "outperform" rating and issued a $24.00 target price on shares of BrightSphere Investment Group in a research note on Friday, February 2nd. Finally, TheStreet raised BrightSphere Investment Group from a "d+" rating to a "c-" rating in a research note on Thursday, January 25th.

BrightSphere Investment Group Stock Down 0.3 %

Shares of NYSE BSIG traded down $0.06 during trading on Friday, hitting $22.56. 180,642 shares of the company traded hands, compared to its average volume of 302,332. The company has a 50-day moving average price of $22.70 and a 200-day moving average price of $20.23. BrightSphere Investment Group has a 1 year low of $15.23 and a 1 year high of $23.63. The firm has a market capitalization of $854.12 million, a P/E ratio of 14.55 and a beta of 1.47.

BrightSphere Investment Group (NYSE:BSIG - Get Free Report) last released its earnings results on Thursday, February 1st. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.19. The firm had revenue of $131.20 million during the quarter, compared to analyst estimates of $127.57 million. BrightSphere Investment Group had a net margin of 15.42% and a return on equity of 400.00%. Research analysts predict that BrightSphere Investment Group will post 2.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other BrightSphere Investment Group news, CEO Suren Rana sold 109,960 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $20.74, for a total value of $2,280,570.40. Following the sale, the chief executive officer now owns 130,967 shares in the company, valued at approximately $2,716,255.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 24.90% of the company's stock.

Institutional Investors Weigh In On BrightSphere Investment Group

A number of large investors have recently added to or reduced their stakes in the stock. Azora Capital LP lifted its position in shares of BrightSphere Investment Group by 4.4% in the 4th quarter. Azora Capital LP now owns 2,115,143 shares of the company's stock worth $40,526,000 after purchasing an additional 88,859 shares during the period. North Reef Capital Management LP raised its holdings in shares of BrightSphere Investment Group by 1.9% in the third quarter. North Reef Capital Management LP now owns 1,700,000 shares of the company's stock valued at $32,963,000 after purchasing an additional 31,717 shares during the last quarter. Impax Asset Management Group plc lifted its position in shares of BrightSphere Investment Group by 10.5% during the fourth quarter. Impax Asset Management Group plc now owns 1,048,818 shares of the company's stock valued at $20,095,000 after purchasing an additional 100,000 shares in the last quarter. Jennison Associates LLC boosted its holdings in BrightSphere Investment Group by 29.4% during the first quarter. Jennison Associates LLC now owns 759,391 shares of the company's stock worth $17,344,000 after purchasing an additional 172,318 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in BrightSphere Investment Group by 10.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 741,127 shares of the company's stock worth $14,200,000 after purchasing an additional 68,114 shares in the last quarter. Institutional investors and hedge funds own 98.69% of the company's stock.

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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