BrightSphere Investment Group (NYSE:BSIG) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of BrightSphere Investment Group (NYSE:BSIG) in a report published on Tuesday. The brokerage issued a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Evercore ISI upped their price objective on BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. BMO Capital Markets reaffirmed a “sector perform” rating and issued a $33.00 target price (up previously from $30.00) on shares of BrightSphere Investment Group in a research note on Tuesday, December 10th. Morgan Stanley reduced their price target on shares of BrightSphere Investment Group from $26.00 to $25.00 and set an “underweight” rating on the stock in a research report on Friday, December 20th. Finally, Royal Bank of Canada cut BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $30.00 to $33.00 in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.50.

BrightSphere Investment Group Stock Performance

The firm has a 50-day simple moving average of $29.00 and a 200 day simple moving average of $25.74. BrightSphere Investment Group has a 52 week low of $18.09 and a 52 week high of $31.52. The company has a market capitalization of $982.96 million, a PE ratio of 15.96 and a beta of 1.45.

Hedge Funds Weigh In On BrightSphere Investment Group

A number of large investors have recently added to or reduced their stakes in BSIG. Barclays PLC boosted its position in shares of BrightSphere Investment Group by 180.9% during the third quarter. Barclays PLC now owns 66,754 shares of the company’s stock worth $1,695,000 after buying an additional 42,989 shares during the period. Verition Fund Management LLC acquired a new position in BrightSphere Investment Group during the 3rd quarter worth approximately $213,000. Impax Asset Management Group plc grew its stake 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 acquiring an additional 50,000 shares in the last quarter. Quest Partners LLC raised its holdings in shares of BrightSphere Investment Group by 329.0% in the third quarter. Quest Partners LLC now owns 28,459 shares of the company’s stock valued at $723,000 after purchasing an additional 21,825 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in BrightSphere Investment Group during the third quarter worth $458,000. Institutional investors 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.