Quest Partners LLC Makes New $147,000 Investment in BrightSphere Investment Group Inc. (NYSE:BSIG)

Quest Partners LLC purchased a new stake in BrightSphere Investment Group Inc. (NYSE:BSIG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,634 shares of the company’s stock, valued at approximately $147,000.

Several other hedge funds also recently modified their holdings of the company. Azora Capital LP raised its position in BrightSphere Investment Group by 4.4% in the fourth quarter. Azora Capital LP now owns 2,115,143 shares of the company’s stock valued at $40,526,000 after purchasing an additional 88,859 shares during the last quarter. Jennison Associates LLC raised its holdings in BrightSphere Investment Group by 29.4% in 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 last quarter. Charles Schwab Investment Management Inc. boosted its position in BrightSphere Investment Group by 10.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 741,127 shares of the company’s stock worth $14,200,000 after buying an additional 68,114 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of BrightSphere Investment Group by 15.3% during the fourth quarter. Allianz Asset Management GmbH now owns 188,350 shares of the company’s stock worth $3,609,000 after purchasing an additional 24,950 shares during the period. Finally, Denali Advisors LLC grew its position in shares of BrightSphere Investment Group by 99.5% in the 1st quarter. Denali Advisors LLC now owns 157,091 shares of the company’s stock valued at $3,588,000 after buying an additional 78,347 shares during the last quarter. Institutional investors and hedge funds own 98.69% of the company’s stock.

BrightSphere Investment Group Stock Performance

BrightSphere Investment Group stock opened at $25.03 on Tuesday. The stock has a market capitalization of $927.86 million, a price-to-earnings ratio of 15.26 and a beta of 1.42. BrightSphere Investment Group Inc. has a 52-week low of $15.23 and a 52-week high of $26.57. The stock’s 50 day moving average price is $23.82 and its two-hundred day moving average price is $23.02.

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

BrightSphere Investment Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend is Friday, September 13th. BrightSphere Investment Group’s payout ratio is 2.44%.

Wall Street Analyst Weigh In

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

BrightSphere Investment Group 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.