Brightsphere Investment Group (NYSE:BSIG) had its price objective raised by Morgan Stanley from $13.00 to $15.00 in a report issued on Tuesday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 7.76% from the stock’s previous close.
BSIG has been the topic of a number of other research reports. Wells Fargo & Co restated a “hold” rating on shares of Brightsphere Investment Group in a report on Thursday, May 7th. 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 target for the company in a report on Tuesday, June 9th. Bank of America boosted their target price on shares of Brightsphere Investment Group from $8.00 to $12.00 and gave the stock an “underperform” rating in a report on Friday, July 10th. Finally, Keefe, Bruyette & Woods upgraded shares of Brightsphere Investment Group from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $14.00 to $18.50 in a report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $13.44.
BSIG stock opened at $13.92 on Tuesday. The firm’s 50-day moving average is $11.46 and its two-hundred day moving average is $8.93. The company has a market capitalization of $969.86 million, a price-to-earnings ratio of 6.00, a price-to-earnings-growth ratio of 1.08 and a beta of 1.69. Brightsphere Investment Group has a 52 week low of $3.61 and a 52 week high of $13.99.
Brightsphere Investment Group (NYSE:BSIG) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.04. The business had revenue of $182.60 million for the quarter. Brightsphere Investment Group had a net margin of 25.64% and a return on equity of 1,914.29%. As a group, sell-side analysts anticipate that Brightsphere Investment Group will post 1.55 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in Brightsphere Investment Group by 7.5% in 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 in the last quarter. Deprince Race & Zollo Inc. lifted its position in Brightsphere Investment Group by 1,709.4% during the 1st quarter. Deprince Race & Zollo Inc. now owns 2,259,392 shares of the company’s stock worth $14,438,000 after acquiring an additional 2,134,522 shares during the last quarter. Norges Bank bought a new stake in Brightsphere Investment Group during the fourth quarter valued at about $18,255,000. Geode Capital Management LLC grew its position in shares of Brightsphere Investment Group by 9.3% in the first quarter. Geode Capital Management LLC now owns 928,388 shares of the company’s stock valued at $5,932,000 after purchasing an additional 79,276 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Brightsphere Investment Group by 218.1% during the 4th quarter. Bank of New York Mellon Corp now owns 926,919 shares of the company’s stock valued at $9,474,000 after purchasing an additional 635,481 shares during the period. 97.02% of the stock is currently owned by institutional investors and hedge funds.
About Brightsphere Investment Group
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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