US Bancorp DE Decreases Stock Position in BrightSphere Investment Group Inc. (NYSE:BSIG)

US Bancorp DE cut its position in BrightSphere Investment Group Inc. (NYSE:BSIG) by 24.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,535 shares of the company’s stock after selling 3,077 shares during the period. US Bancorp DE’s holdings in BrightSphere Investment Group were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of BSIG. Jacobs Levy Equity Management Inc. purchased a new stake in BrightSphere Investment Group in the first quarter valued at approximately $853,000. Renaissance Technologies LLC raised its position in BrightSphere Investment Group by 297.9% during 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 last quarter. Maverick Capital Ltd. acquired a new stake in shares of BrightSphere Investment Group in the 2nd quarter worth $1,204,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of BrightSphere Investment Group by 61.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 77,216 shares of the company’s stock worth $1,756,000 after acquiring an additional 29,302 shares during the period. Finally, Texas Permanent School Fund Corp raised its holdings in BrightSphere Investment Group by 3.4% during the first quarter. Texas Permanent School Fund Corp now owns 28,335 shares of the company’s stock worth $647,000 after purchasing an additional 924 shares in the last quarter. Hedge funds and other institutional investors own 98.69% of the company’s stock.

BrightSphere Investment Group Price Performance

BrightSphere Investment Group stock opened at $29.63 on Thursday. The firm’s 50-day moving average is $25.74 and its two-hundred day moving average is $24.01. The stock has a market capitalization of $1.11 billion, a P/E ratio of 18.25 and a beta of 1.41. BrightSphere Investment Group Inc. has a 12-month low of $16.55 and a 12-month high of $30.49.

BrightSphere Investment Group (NYSE:BSIG) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. The company had revenue of $123.10 million during the quarter, compared to the consensus estimate of $114.95 million. During the same period in the previous year, the firm posted $0.45 EPS. As a group, analysts forecast that BrightSphere Investment Group Inc. will post 2.59 EPS for the current year.

BrightSphere Investment Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Friday, December 13th. BrightSphere Investment Group’s payout ratio is 2.42%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BSIG shares. Morgan Stanley cut 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 research report on Friday, October 18th. Evercore ISI raised their price target on BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Royal Bank of Canada raised their target price on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.00.

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.