Victory Capital Management Inc. trimmed its position in BrightSphere Investment Group Inc. (NYSE:BSIG – Free Report) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 524,303 shares of the company’s stock after selling 17,956 shares during the period. Victory Capital Management Inc. owned approximately 1.41% of BrightSphere Investment Group worth $13,317,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Gladius Capital Management LP purchased a new position in shares of BrightSphere Investment Group in the second quarter worth $32,000. Blue Trust Inc. raised its holdings in shares of BrightSphere Investment Group by 2,397.6% in the third quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock worth $79,000 after buying an additional 2,997 shares during the last quarter. Quest Partners LLC purchased a new position in shares of BrightSphere Investment Group in the second quarter worth $147,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 worth $195,000 after buying an additional 3,561 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of BrightSphere Investment Group in the first quarter worth $214,000. 98.69% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on BSIG shares. Evercore ISI raised their price target on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Morgan Stanley cut shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and raised their target price for the stock from $23.00 to $26.00 in a report on Friday, October 18th. Royal Bank of Canada raised their target price on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the stock 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 report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $29.00.
BrightSphere Investment Group Stock Performance
BSIG stock opened at $30.18 on Thursday. The firm has a market cap of $1.13 billion, a PE ratio of 18.29 and a beta of 1.41. The firm’s fifty day moving average is $26.51 and its 200 day moving average is $24.31. BrightSphere Investment Group Inc. has a one year low of $17.32 and a one year high of $30.49.
BrightSphere Investment Group (NYSE:BSIG – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $123.10 million for the quarter, compared to analyst estimates of $114.95 million. BrightSphere Investment Group had a net margin of 13.92% and a return on equity of 7,606.72%. During the same period in the previous year, the business posted $0.45 earnings per share. Research analysts predict that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current fiscal year.
BrightSphere Investment Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio (DPR) is presently 2.42%.
About BrightSphere Investment Group
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.
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