Exchange Traded Concepts LLC Sells 3,455 Shares of BrightSphere Investment Group Inc. (NYSE:BSIG)

Exchange Traded Concepts LLC decreased its holdings in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 22.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,832 shares of the company’s stock after selling 3,455 shares during the quarter. Exchange Traded Concepts LLC’s holdings in BrightSphere Investment Group were worth $301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BSIG. Gladius Capital Management LP acquired a new stake in shares of BrightSphere Investment Group during the 2nd quarter valued at $32,000. PNC Financial Services Group Inc. grew its holdings in shares of BrightSphere Investment Group by 29.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,885 shares of the company’s stock worth $94,000 after purchasing an additional 1,106 shares during the last quarter. Quest Partners LLC bought a new stake in shares of BrightSphere Investment Group during the second quarter worth about $147,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of BrightSphere Investment Group by 67.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock valued at $195,000 after buying an additional 3,561 shares during the period. Finally, Price T Rowe Associates Inc. MD bought a new position in BrightSphere Investment Group in the 1st quarter valued at approximately $214,000. Institutional investors own 98.69% of the company’s stock.

BrightSphere Investment Group Stock Performance

NYSE:BSIG opened at $27.10 on Monday. BrightSphere Investment Group Inc. has a fifty-two week low of $15.23 and a fifty-two week high of $27.33. The company has a 50 day simple moving average of $24.38 and a two-hundred day simple moving average of $23.46. The company has a market capitalization of $1.00 billion, a PE ratio of 16.33 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. The company had revenue of $109.00 million during the quarter, compared to analysts’ expectations 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 prior year, the company posted $0.28 earnings per share. Research analysts predict that BrightSphere Investment Group Inc. will post 2.31 EPS for the current year.

BrightSphere Investment Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.15%. The ex-dividend date was Friday, September 13th. BrightSphere Investment Group’s dividend payout ratio (DPR) is presently 2.41%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BSIG. Morgan Stanley lowered shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $23.00 to $26.00 in a report on Friday. StockNews.com cut shares of BrightSphere Investment Group from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Finally, Royal Bank of Canada raised their target price on BrightSphere Investment Group from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th.

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.