Brightsphere Investment Group (NYSE:BSIG) Stock Rating Upgraded by Bank of America

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Bank of America upgraded shares of Brightsphere Investment Group (NYSE:BSIG) from an underperform rating to a neutral rating in a report released on Wednesday morning, The Fly reports. The brokerage currently has $16.00 price target on the stock, up from their prior price target of $12.00.

A number of other analysts have also issued reports on the stock. Keefe, Bruyette & Woods raised shares of Brightsphere Investment Group from a market perform rating to an outperform rating and increased their price target for the stock from $14.00 to $18.50 in a research report on Tuesday, July 28th. Wells Fargo & Co reissued a hold rating on shares of Brightsphere Investment Group in a research report on Thursday, May 7th. Zacks Investment Research raised shares of Brightsphere Investment Group from a strong sell rating to a strong-buy rating and set a $11.00 price target for the company in a research report on Tuesday, June 9th. Finally, Morgan Stanley increased their price target on shares of Brightsphere Investment Group from $13.00 to $15.00 and gave the stock an equal weight rating in a research report on Tuesday, July 28th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $14.17.

BSIG stock opened at $13.44 on Wednesday. Brightsphere Investment Group has a one year low of $3.61 and a one year high of $14.61. The firm has a market capitalization of $1.09 billion, a PE ratio of 5.79, a P/E/G ratio of 1.24 and a beta of 1.69. The firm has a 50-day moving average of $11.79 and a two-hundred day moving average of $9.02.

Brightsphere Investment Group (NYSE:BSIG) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Brightsphere Investment Group had a net margin of 25.64% and a return on equity of 1,914.29%. The company had revenue of $182.60 million during the quarter. As a group, analysts forecast that Brightsphere Investment Group will post 1.56 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Brightsphere Investment Group in the fourth quarter worth approximately $18,255,000. Invesco Ltd. increased its holdings in Brightsphere Investment Group by 34.9% in the first quarter. Invesco Ltd. now owns 434,442 shares of the company’s stock worth $2,776,000 after buying an additional 112,409 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Brightsphere Investment Group in the first quarter worth approximately $2,359,000. BlackRock Inc. increased its holdings in Brightsphere Investment Group by 7.5% in the first quarter. BlackRock Inc. now owns 5,339,181 shares of the company’s stock worth $34,119,000 after buying an additional 370,487 shares during the last quarter. Finally, Aperio Group LLC grew its holdings in Brightsphere Investment Group by 38.0% during the first quarter. Aperio Group LLC now owns 37,356 shares of the company’s stock valued at $239,000 after purchasing an additional 10,284 shares during the last quarter. Hedge funds and other institutional investors own 97.02% of the company’s stock.

Brightsphere Investment Group Company Profile

BrightSphere Investment Group plc 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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The Fly

Analyst Recommendations for Brightsphere Investment Group (NYSE:BSIG)

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