Charles Schwab Investment Management Inc. Has $13.11 Million Stock Holdings in BrightSphere Investment Group Inc. (NYSE:BSIG)

Charles Schwab Investment Management Inc. lowered its position in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 19.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 515,990 shares of the company’s stock after selling 127,084 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.39% of BrightSphere Investment Group worth $13,106,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in BSIG. Dimensional Fund Advisors LP grew its stake in BrightSphere Investment Group by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,126,772 shares of the company’s stock worth $24,980,000 after buying an additional 4,399 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in shares of BrightSphere Investment Group by 4.8% in the 3rd quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock worth $27,910,000 after acquiring an additional 50,000 shares in the last quarter. Jennison Associates LLC grew its position in BrightSphere Investment Group by 25.3% during the 3rd quarter. Jennison Associates LLC now owns 968,936 shares of the company’s stock worth $24,611,000 after acquiring an additional 195,417 shares during the last quarter. Denali Advisors LLC increased its holdings in BrightSphere Investment Group by 1.9% during the 2nd quarter. Denali Advisors LLC now owns 160,000 shares of the company’s stock valued at $3,547,000 after purchasing an additional 2,909 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in BrightSphere Investment Group by 297.9% during the 2nd quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock valued at $3,414,000 after purchasing an additional 115,300 shares in the last quarter. Institutional investors and hedge funds own 98.69% of the company’s stock.

Wall Street Analysts Forecast Growth

BSIG has been the topic of a number of recent analyst reports. Evercore ISI boosted their price objective on BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Morgan Stanley cut shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $23.00 to $26.00 in a research report on Friday, October 18th. Finally, Royal Bank of Canada boosted their target price on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $29.00.

BrightSphere Investment Group Stock Down 0.5 %

BSIG stock opened at $30.93 on Monday. BrightSphere Investment Group Inc. has a twelve month low of $17.99 and a twelve month high of $31.52. The company has a market cap of $1.15 billion, a P/E ratio of 18.75 and a beta of 1.45. The business has a fifty day moving average of $27.90 and a 200-day moving average of $25.01.

BrightSphere Investment Group (NYSE:BSIG) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $123.10 million during the quarter, compared to analyst estimates of $114.95 million. During the same period last year, the company earned $0.45 earnings per share. As a group, equities research analysts anticipate that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current fiscal year.

BrightSphere Investment Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 dividend yield of 0.13%. The ex-dividend date of this dividend is Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio (DPR) is 2.42%.

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.