Bank of America Boosts Brightsphere Investment Group (NYSE:BSIG) Price Target to $12.00

Brightsphere Investment Group (NYSE:BSIG) had its target price upped by Bank of America from $8.00 to $12.00 in a report issued on Friday morning, BenzingaRatingsTable reports. Bank of America currently has an underperform rating on the stock.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Brightsphere Investment Group from a strong sell rating to a strong-buy rating and set a $11.00 target price on the stock in a report on Tuesday, June 9th. Morgan Stanley raised their target price on shares of Brightsphere Investment Group from $8.25 to $13.00 and gave the stock an equal weight rating in a report on Thursday, July 2nd. Wells Fargo & Co restated a hold rating on shares of Brightsphere Investment Group in a report on Thursday, May 7th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Brightsphere Investment Group from $7.25 to $9.50 and gave the stock a market perform rating in a report on Friday, May 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $12.06.

BSIG stock opened at $12.74 on Friday. The company has a market capitalization of $1.03 billion, a PE ratio of 5.49, a price-to-earnings-growth ratio of 1.22 and a beta of 1.69. Brightsphere Investment Group has a one year low of $3.61 and a one year high of $13.04. The company’s 50 day moving average price is $10.22 and its two-hundred day moving average price is $8.73.

Brightsphere Investment Group (NYSE:BSIG) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.40 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $182.60 million for the quarter. As a group, equities analysts forecast that Brightsphere Investment Group will post 1.54 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.31%. The ex-dividend date was Thursday, June 11th. Brightsphere Investment Group’s dividend payout ratio (DPR) is currently 2.26%.

A number of large investors have recently added to or reduced their stakes in the stock. Credit Suisse AG boosted its holdings in Brightsphere Investment Group by 2.1% in the fourth quarter. Credit Suisse AG now owns 72,455 shares of the company’s stock valued at $740,000 after acquiring an additional 1,473 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Brightsphere Investment Group by 1.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 93,608 shares of the company’s stock valued at $957,000 after acquiring an additional 1,486 shares in the last quarter. National Investment Services of America LLC boosted its holdings in Brightsphere Investment Group by 2.1% in the first quarter. National Investment Services of America LLC now owns 87,776 shares of the company’s stock valued at $561,000 after acquiring an additional 1,791 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Brightsphere Investment Group by 0.3% during the 1st quarter. Two Sigma Advisers LP now owns 614,500 shares of the company’s stock valued at $3,927,000 after buying an additional 1,900 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its holdings in shares of Brightsphere Investment Group by 17.5% during the 1st quarter. Wedge Capital Management L L P NC now owns 12,912 shares of the company’s stock valued at $83,000 after buying an additional 1,923 shares in the last quarter. Institutional investors and hedge funds own 98.98% of the company’s stock.

About Brightsphere Investment Group

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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Analyst Recommendations for Brightsphere Investment Group (NYSE:BSIG)

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