Evercore ISI Issues Positive Forecast for BrightSphere Investment Group (NYSE:BSIG) Stock Price

BrightSphere Investment Group (NYSE:BSIG) had its price target lifted by research analysts at Evercore ISI from $28.00 to $31.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s price target indicates a potential upside of 3.71% from the stock’s current price.

BSIG has been the subject of a number of other research reports. Morgan Stanley lowered shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $23.00 to $26.00 in a research note on Friday, October 18th. StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada increased their price target on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, BrightSphere Investment Group presently has a consensus rating of “Hold” and a consensus target price of $29.00.

BrightSphere Investment Group Price Performance

Shares of NYSE BSIG opened at $29.89 on Thursday. BrightSphere Investment Group has a 1-year low of $15.79 and a 1-year high of $30.35. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 18.12 and a beta of 1.41. The business has a 50-day moving average of $25.29 and a 200-day moving average of $23.82.

BrightSphere Investment Group (NYSE:BSIG) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.07. The firm had revenue of $123.10 million for the quarter, compared to the consensus estimate of $114.95 million. BrightSphere Investment Group had a net margin of 13.92% and a return on equity of 7,606.72%. During the same quarter in the previous year, the firm posted $0.45 EPS. Research analysts expect that BrightSphere Investment Group will post 2.59 EPS for the current fiscal year.

Institutional Trading of BrightSphere Investment Group

A number of institutional investors and hedge funds have recently made changes to their positions in BSIG. Renaissance Technologies LLC increased its holdings in shares of BrightSphere Investment Group by 297.9% in the 2nd quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock worth $3,414,000 after acquiring an additional 115,300 shares during the period. Marshall Wace LLP bought a new position in BrightSphere Investment Group in the 2nd quarter worth about $1,870,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of BrightSphere Investment Group in the first quarter valued at approximately $1,292,000. Maverick Capital Ltd. bought a new stake in shares of BrightSphere Investment Group during the second quarter valued at approximately $1,204,000. Finally, Impax Asset Management Group plc raised its holdings in shares of BrightSphere Investment Group by 4.8% during the third quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock valued at $27,910,000 after buying an additional 50,000 shares during the last quarter. 98.69% of the stock is currently owned by institutional investors and hedge funds.

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.