BrightSphere Investment Group (NYSE:BSIG) PT Raised to $28.00 at Royal Bank of Canada

BrightSphere Investment Group (NYSE:BSIG) had its price objective increased by equities researchers at Royal Bank of Canada from $26.00 to $28.00 in a report released on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 7.53% from the stock’s current price.

Separately, StockNews.com lowered shares of BrightSphere Investment Group from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd.

BrightSphere Investment Group Trading Up 6.2 %

Shares of BrightSphere Investment Group stock opened at $26.04 on Friday. The stock has a market capitalization of $965.30 million, a price-to-earnings ratio of 15.69 and a beta of 1.41. BrightSphere Investment Group has a twelve month low of $15.23 and a twelve month high of $26.57. The business’s 50 day simple moving average is $23.90 and its 200-day simple moving average is $23.31.

BrightSphere Investment Group (NYSE:BSIG) last issued its earnings results on Thursday, August 1st. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. BrightSphere Investment Group had a return on equity of 871.33% and a net margin of 15.00%. The firm had revenue of $109.00 million for the quarter, compared to analyst estimates of $104.72 million. During the same period last year, the company earned $0.28 earnings per share. Sell-side analysts predict that BrightSphere Investment Group will post 2.31 earnings per share for the current year.

Institutional Investors Weigh In On BrightSphere Investment Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jennison Associates LLC increased its stake in BrightSphere Investment Group by 29.4% during the 1st quarter. Jennison Associates LLC now owns 759,391 shares of the company’s stock valued at $17,344,000 after buying an additional 172,318 shares during the period. Renaissance Technologies LLC raised its holdings in BrightSphere Investment Group by 297.9% during the second quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock worth $3,414,000 after purchasing an additional 115,300 shares in the last quarter. Marshall Wace LLP acquired a new stake in BrightSphere Investment Group in the second quarter worth approximately $1,870,000. Denali Advisors LLC boosted its stake in BrightSphere Investment Group by 99.5% during the 1st quarter. Denali Advisors LLC now owns 157,091 shares of the company’s stock valued at $3,588,000 after purchasing an additional 78,347 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of BrightSphere Investment Group during the 1st quarter valued at $1,292,000. 98.69% of the stock is currently owned by institutional investors.

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.