Verition Fund Management LLC Acquires New Stake in BrightSphere Investment Group Inc. (NYSE:BSIG)

Verition Fund Management LLC bought a new position in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 8,403 shares of the company’s stock, valued at approximately $213,000.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. raised its position in shares of BrightSphere Investment Group by 2,397.6% during the third quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock worth $79,000 after acquiring an additional 2,997 shares during the last quarter. Quest Partners LLC acquired a new position in shares of BrightSphere Investment Group in the 2nd quarter worth approximately $147,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of BrightSphere Investment Group by 67.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock valued at $195,000 after purchasing an additional 3,561 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of BrightSphere Investment Group in the 1st quarter valued at $214,000. Finally, New York State Teachers Retirement System increased its position in shares of BrightSphere Investment Group by 24.3% during the third quarter. New York State Teachers Retirement System now owns 13,132 shares of the company’s stock worth $334,000 after buying an additional 2,565 shares during the period. Institutional investors own 98.69% of the company’s stock.

Analysts Set New Price Targets

BSIG has been the topic of several recent analyst reports. Royal Bank of Canada lowered shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $30.00 to $33.00 in a report on Tuesday, December 10th. Evercore ISI boosted their price objective 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. StockNews.com raised BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. BMO Capital Markets reissued a “sector perform” rating and issued a $33.00 price target (up from $30.00) on shares of BrightSphere Investment Group in a research note on Tuesday, December 10th. Finally, Morgan Stanley downgraded shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $23.00 to $26.00 in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, BrightSphere Investment Group has a consensus rating of “Hold” and an average price target of $30.75.

BrightSphere Investment Group Stock Performance

BSIG stock opened at $30.12 on Monday. The stock’s 50 day simple moving average is $28.53 and its 200 day simple moving average is $25.30. The company has a market cap of $1.12 billion, a P/E ratio of 18.25 and a beta of 1.45. BrightSphere Investment Group Inc. has a fifty-two week low of $18.09 and a fifty-two week high of $31.52.

BrightSphere Investment Group (NYSE:BSIG) last issued its 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. 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 for the quarter, compared to analyst estimates of $114.95 million. During the same period in the prior year, the firm earned $0.45 earnings per share. Equities analysts predict that BrightSphere Investment Group Inc. will post 2.59 earnings per share 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. Stockholders of record on Friday, December 13th will be issued 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 is Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio is currently 2.42%.

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.