BrightSphere Investment Group (NYSE:BSIG) PT Lowered to $20.00
BrightSphere Investment Group (NYSE:BSIG – Get Rating) had its price target dropped by stock analysts at Morgan Stanley from $25.00 to $20.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 7.70% from the company’s current price.
Separately, StockNews.com assumed coverage on shares of BrightSphere Investment Group in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.50.
BSIG stock opened at $18.57 on Thursday. The company’s 50 day moving average is $19.93 and its 200 day moving average is $22.44. The stock has a market cap of $769.26 million, a price-to-earnings ratio of 1.81 and a beta of 1.65. BrightSphere Investment Group has a 1-year low of $17.69 and a 1-year high of $31.17.
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BrightSphere Investment Group (NYSE:BSIG – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. BrightSphere Investment Group had a net margin of 156.79% and a return on equity of 26.02%. The business had revenue of $112.20 million for the quarter, compared to analysts’ expectations of $106.14 million. Equities analysts anticipate that BrightSphere Investment Group will post 2.4 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. USA Financial Portformulas Corp lifted its stake in BrightSphere Investment Group by 64.6% in the fourth quarter. USA Financial Portformulas Corp now owns 3,791 shares of the company’s stock worth $97,000 after acquiring an additional 1,488 shares during the period. Point72 Hong Kong Ltd purchased a new stake in BrightSphere Investment Group in the fourth quarter worth $168,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in BrightSphere Investment Group by 33.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,544 shares of the company’s stock worth $219,000 after acquiring an additional 2,163 shares during the period. GSA Capital Partners LLP purchased a new stake in BrightSphere Investment Group in the fourth quarter worth $226,000. Finally, AlphaCrest Capital Management LLC purchased a new stake in BrightSphere Investment Group in the first quarter worth $240,000. 98.74% of the stock is owned by institutional investors.
BrightSphere Investment Group Company Profile (Get Rating)
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.
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