MetLife Investment Management LLC Sells 1,299 Shares of BrightSphere Investment Group Inc. (NYSE:BSIG)

MetLife Investment Management LLC lessened its holdings in BrightSphere Investment Group Inc. (NYSE:BSIG) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,591 shares of the company’s stock after selling 1,299 shares during the quarter. MetLife Investment Management LLC’s holdings in BrightSphere Investment Group were worth $396,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of BSIG. Gladius Capital Management LP bought a new position in shares of BrightSphere Investment Group during the 2nd quarter worth $32,000. Blue Trust Inc. grew its position in shares of BrightSphere Investment Group by 2,397.6% during the 3rd quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock worth $79,000 after buying an additional 2,997 shares in the last quarter. Quest Partners LLC bought a new position in shares of BrightSphere Investment Group during the 2nd quarter worth $147,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of BrightSphere Investment Group by 67.9% during the 2nd 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of BrightSphere Investment Group during the 1st quarter worth $214,000. Institutional investors own 98.69% of the company’s stock.

BrightSphere Investment Group Stock Down 0.5 %

BrightSphere Investment Group stock opened at $30.93 on Monday. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 18.75 and a beta of 1.45. BrightSphere Investment Group Inc. has a 52 week low of $17.99 and a 52 week high of $31.52. The business’s 50-day moving average price is $27.90 and its 200 day moving average price is $25.01.

BrightSphere Investment Group (NYSE:BSIG) last posted its earnings results on Thursday, October 31st. The company reported $0.59 EPS for the quarter, topping 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 firm had revenue of $123.10 million for the quarter, compared to analyst estimates of $114.95 million. During the same period last year, the company earned $0.45 earnings per share. Equities analysts expect that BrightSphere Investment Group Inc. will post 2.59 EPS for the current year.

BrightSphere Investment Group Dividend Announcement

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

Wall Street Analyst Weigh In

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