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

BrightSphere Investment Group (NYSE:BSIG) had its target price boosted by equities research analysts at Royal Bank of Canada from $26.00 to $28.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 8.86% from the stock’s previous close.

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

BrightSphere Investment Group Price Performance

BSIG stock traded up $1.19 during midday trading on Friday, reaching $25.72. The company had a trading volume of 62,473 shares, compared to its average volume of 265,109. BrightSphere Investment Group has a 1 year low of $15.23 and a 1 year high of $26.57. The company has a market capitalization of $953.44 million, a P/E ratio of 15.49 and a beta of 1.41. The firm has a 50-day moving average price of $23.85 and a 200-day moving average price of $23.28.

BrightSphere Investment Group (NYSE:BSIG) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $109.00 million during the quarter, compared to analyst estimates of $104.72 million. BrightSphere Investment Group had a net margin of 15.00% and a return on equity of 871.33%. During the same period in the previous year, the business posted $0.28 EPS. On average, equities analysts predict that BrightSphere Investment Group will post 2.31 EPS for the current year.

Institutional Investors Weigh In On BrightSphere Investment Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in BrightSphere Investment Group by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,126,772 shares of the company’s stock worth $24,980,000 after purchasing an additional 4,399 shares in the last quarter. Jennison Associates LLC grew its position in shares of BrightSphere Investment Group by 29.4% in the 1st quarter. Jennison Associates LLC now owns 759,391 shares of the company’s stock worth $17,344,000 after buying an additional 172,318 shares during the period. Denali Advisors LLC grew its position in shares of BrightSphere Investment Group by 1.9% in the 2nd quarter. Denali Advisors LLC now owns 160,000 shares of the company’s stock worth $3,547,000 after buying an additional 2,909 shares during the period. Renaissance Technologies LLC grew its position in shares of BrightSphere Investment Group by 297.9% in the 2nd quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock worth $3,414,000 after buying an additional 115,300 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of BrightSphere Investment Group by 28.9% in the 2nd quarter. AQR Capital Management LLC now owns 103,690 shares of the company’s stock worth $2,299,000 after buying an additional 23,232 shares during the period. 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.