BrightSphere Investment Group (NYSE:BSIG) PT Raised to $18.00 at Morgan Stanley
BrightSphere Investment Group (NYSE:BSIG – Get Rating) had its target price hoisted by research analysts at Morgan Stanley from $17.00 to $18.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 5.02% from the company’s previous close.
Separately, StockNews.com assumed coverage on BrightSphere Investment Group in a report on Wednesday. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.33.
BrightSphere Investment Group Stock Down 1.0 %
NYSE:BSIG traded down $0.17 during midday trading on Wednesday, reaching $17.14. The stock had a trading volume of 4,356 shares, compared to its average volume of 502,708. The firm has a fifty day simple moving average of $17.65 and a two-hundred day simple moving average of $19.22. BrightSphere Investment Group has a 12-month low of $14.73 and a 12-month high of $31.17. The stock has a market cap of $710.18 million, a P/E ratio of 3.80 and a beta of 1.57.
BrightSphere Investment Group (NYSE:BSIG – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.05. BrightSphere Investment Group had a return on equity of 46.17% and a net margin of 65.73%. The business had revenue of $95.50 million during the quarter, compared to the consensus estimate of $96.01 million. During the same quarter in the previous year, the company posted $0.40 EPS. On average, sell-side analysts anticipate that BrightSphere Investment Group will post 1.75 earnings per share for the current fiscal year.
Institutional Trading of BrightSphere Investment Group
A number of institutional investors have recently modified their holdings of BSIG. Empyrean Capital Partners LP purchased a new stake in shares of BrightSphere Investment Group during the 1st quarter worth about $41,968,000. William Blair Investment Management LLC purchased a new position in BrightSphere Investment Group in the 2nd quarter worth approximately $24,622,000. Canada Pension Plan Investment Board purchased a new position in BrightSphere Investment Group in the 1st quarter worth approximately $9,312,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in BrightSphere Investment Group by 752.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,855 shares of the company’s stock worth $9,042,000 after acquiring an additional 329,134 shares during the period. Finally, Maltese Capital Management LLC boosted its holdings in BrightSphere Investment Group by 211.1% in the 2nd quarter. Maltese Capital Management LLC now owns 420,000 shares of the company’s stock worth $7,565,000 after acquiring an additional 285,000 shares during the period.
About BrightSphere Investment Group
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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