BrightSphere Investment Group (NYSE:BSIG) Sets New 1-Year High – Here’s What Happened

Shares of BrightSphere Investment Group Inc. (NYSE:BSIG) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $27.58 and last traded at $27.11, with a volume of 3367 shares traded. The stock had previously closed at $26.37.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com lowered BrightSphere Investment Group from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Royal Bank of Canada raised their target price on BrightSphere Investment Group from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Finally, Morgan Stanley lowered BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and raised their target price for the stock from $23.00 to $26.00 in a report on Friday, October 18th.

BrightSphere Investment Group Stock Performance

The stock has a market cap of $1.02 billion, a PE ratio of 16.08 and a beta of 1.41. The company has a 50 day moving average of $24.86 and a two-hundred day moving average of $23.64.

BrightSphere Investment Group (NYSE:BSIG) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The company had revenue of $109.00 million during the quarter, compared to analysts’ expectations of $104.72 million. BrightSphere Investment Group had a return on equity of 871.33% and a net margin of 15.00%. During the same quarter in the prior year, the firm posted $0.28 EPS. As a group, equities research analysts anticipate that BrightSphere Investment Group Inc. will post 2.4 EPS for the current year.

Hedge Funds Weigh In On BrightSphere Investment Group

A number of large investors have recently bought and sold shares of the business. Impax Asset Management Group plc increased its stake in 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 buying an additional 50,000 shares in the last quarter. New York State Teachers Retirement System increased its stake in BrightSphere Investment Group by 24.3% during 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 in the last quarter. Assenagon Asset Management S.A. increased its stake in BrightSphere Investment Group by 3.4% during 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 in the last quarter. Blue Trust Inc. increased its stake in BrightSphere Investment Group by 2,397.6% during 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 in the last quarter. Finally, Creative Planning grew its position in shares of BrightSphere Investment Group by 13.1% in the third quarter. Creative Planning now owns 19,853 shares of the company’s stock valued at $504,000 after purchasing an additional 2,300 shares in the last quarter. Institutional investors and hedge funds 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.