Texas Permanent School Fund Corp Cuts Holdings in BrightSphere Investment Group Inc. (NYSE:BSIG)

Texas Permanent School Fund Corp decreased its position in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 14.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,232 shares of the company’s stock after selling 4,103 shares during the period. Texas Permanent School Fund Corp owned approximately 0.06% of BrightSphere Investment Group worth $537,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BSIG. Jennison Associates LLC grew its position in shares of BrightSphere Investment Group by 29.4% during the first quarter. Jennison Associates LLC now owns 759,391 shares of the company’s stock valued at $17,344,000 after purchasing an additional 172,318 shares in the last quarter. Azora Capital LP grew 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 worth $40,526,000 after acquiring an additional 88,859 shares in the last quarter. Denali Advisors LLC grew its position in BrightSphere Investment Group by 99.5% in the first quarter. Denali Advisors LLC now owns 157,091 shares of the company’s stock worth $3,588,000 after acquiring an additional 78,347 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in BrightSphere Investment Group by 10.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 741,127 shares of the company’s stock worth $14,200,000 after acquiring an additional 68,114 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in BrightSphere Investment Group in the first quarter worth about $1,292,000. Hedge funds and other institutional investors own 98.69% of the company’s stock.

BrightSphere Investment Group Trading Down 1.0 %

BSIG opened at $25.56 on Friday. The firm has a market cap of $947.51 million, a P/E ratio of 15.59 and a beta of 1.42. BrightSphere Investment Group Inc. has a 12 month low of $15.23 and a 12 month high of $26.57. The stock has a 50-day moving average of $24.01 and a 200 day moving average of $23.09.

BrightSphere Investment Group (NYSE:BSIG) last announced its quarterly earnings data 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. The business had revenue of $109.00 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $0.28 earnings per share. On average, research analysts forecast that BrightSphere Investment Group Inc. will post 2.31 earnings per share for the current fiscal year.

BrightSphere Investment Group Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered 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.