StockNews.com Begins Coverage on BrightSphere Investment Group (NYSE:BSIG)

StockNews.com began coverage on shares of BrightSphere Investment Group (NYSE:BSIG) in a research report sent to investors on Tuesday. The firm issued a buy rating on the stock.

BSIG has been the subject of a number of other research reports. Evercore ISI lifted their price target on BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. BMO Capital Markets reiterated a “sector perform” rating and set a $33.00 price target (up previously from $30.00) on shares of BrightSphere Investment Group in a research report on Tuesday, December 10th. Morgan Stanley dropped their price target on BrightSphere Investment Group from $26.00 to $25.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. Finally, Royal Bank of Canada downgraded BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $30.00 to $33.00 in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.50.

BrightSphere Investment Group Stock Performance

BrightSphere Investment Group has a 12 month low of $18.09 and a 12 month high of $31.52. The business has a 50 day moving average of $29.00 and a 200-day moving average of $25.74. The company has a market cap of $982.96 million, a P/E ratio of 15.96 and a beta of 1.45.

Institutional Trading of BrightSphere Investment Group

A number of hedge funds have recently bought and sold shares of the company. DGS Capital Management LLC lifted its position in BrightSphere Investment Group by 2.6% in the 3rd quarter. DGS Capital Management LLC now owns 25,153 shares of the company’s stock worth $639,000 after buying an additional 646 shares during the last quarter. Creative Planning lifted its position in BrightSphere Investment Group by 7.6% in the 2nd quarter. Creative Planning now owns 17,553 shares of the company’s stock worth $389,000 after buying an additional 1,235 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in BrightSphere Investment Group by 3.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 55,574 shares of the company’s stock worth $1,412,000 after buying an additional 1,805 shares during the last quarter. New York State Teachers Retirement System lifted its position in BrightSphere Investment Group by 24.3% in the 3rd quarter. New York State Teachers Retirement System now owns 13,132 shares of the company’s stock worth $334,000 after buying an additional 2,565 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in BrightSphere Investment Group by 2,397.6% in the 3rd quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock worth $79,000 after buying an additional 2,997 shares during the last quarter. 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.