BrightSphere Investment Group (NYSE:BSIG) Cut to Sector Perform at Royal Bank of Canada

BrightSphere Investment Group (NYSE:BSIG) was downgraded by equities research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. They presently have a $33.00 target price on the stock, up from their previous target price of $30.00. Royal Bank of Canada’s price target suggests a potential upside of 7.18% from the stock’s current price.

A number of other research analysts also recently commented on the stock. StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Morgan Stanley downgraded shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $23.00 to $26.00 in a report on Friday, October 18th. Finally, Evercore ISI increased their price target on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.75.

BrightSphere Investment Group Stock Performance

Shares of NYSE BSIG opened at $30.79 on Tuesday. The firm has a market cap of $1.15 billion, a P/E ratio of 18.66 and a beta of 1.45. BrightSphere Investment Group has a 1 year low of $18.09 and a 1 year high of $31.52. The firm’s 50 day moving average price is $28.26 and its 200 day moving average price is $25.18.

BrightSphere Investment Group (NYSE:BSIG) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The business had revenue of $123.10 million during the quarter, compared to the consensus estimate of $114.95 million. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. During the same quarter in the previous year, the business earned $0.45 earnings per share. As a group, equities analysts predict that BrightSphere Investment Group will post 2.59 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Azora Capital LP raised its position in BrightSphere Investment Group by 10.7% in the third quarter. Azora Capital LP now owns 2,028,358 shares of the company’s stock valued at $51,520,000 after purchasing an additional 195,728 shares during the period. Jennison Associates LLC raised its holdings in shares of BrightSphere Investment Group by 25.3% during the 3rd quarter. Jennison Associates LLC now owns 968,936 shares of the company’s stock valued at $24,611,000 after buying an additional 195,417 shares during the period. Renaissance Technologies LLC lifted its position in BrightSphere Investment Group by 297.9% during 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 in the last quarter. Marshall Wace LLP acquired a new position in BrightSphere Investment Group during the 2nd quarter worth approximately $1,870,000. Finally, Maverick Capital Ltd. purchased a new position in BrightSphere Investment Group in the 2nd quarter worth approximately $1,204,000. 98.69% of the stock is 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.