BrightSphere Investment Group Inc. (NYSE:BSIG) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,706 shares of the company’s stock after selling 401 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in BrightSphere Investment Group were worth $272,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Creative Planning grew its holdings in BrightSphere Investment Group by 7.6% in the second quarter. Creative Planning now owns 17,553 shares of the company’s stock valued at $389,000 after purchasing an additional 1,235 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of BrightSphere Investment Group by 3.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 55,574 shares of the company’s stock valued at $1,412,000 after buying an additional 1,805 shares during the period. New York State Teachers Retirement System increased its holdings in shares of BrightSphere Investment Group by 24.3% during the 3rd 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 last quarter. American Century Companies Inc. raised its position in shares of BrightSphere Investment Group by 5.6% in the 2nd quarter. American Century Companies Inc. now owns 50,729 shares of the company’s stock worth $1,125,000 after buying an additional 2,693 shares during the period. Finally, Denali Advisors LLC boosted its holdings in BrightSphere Investment Group by 1.9% in the second quarter. Denali Advisors LLC now owns 160,000 shares of the company’s stock valued at $3,547,000 after acquiring an additional 2,909 shares during the last quarter. 98.69% of the stock is currently owned by hedge funds and other institutional investors.

BrightSphere Investment Group Stock Up 0.5 %

NYSE BSIG opened at $30.27 on Tuesday. BrightSphere Investment Group Inc. has a fifty-two week low of $18.09 and a fifty-two week high of $31.52. The business has a 50 day moving average price of $28.67 and a two-hundred day moving average price of $25.36. The stock has a market cap of $1.13 billion, a PE ratio of 18.35 and a beta of 1.45.

BrightSphere Investment Group (NYSE:BSIG) last posted its earnings results 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 net margin of 13.92% and a return on equity of 7,606.72%. The business had revenue of $123.10 million for the quarter, compared to analysts’ expectations of $114.95 million. During the same period in the previous year, the company posted $0.45 earnings per share. Sell-side analysts anticipate that BrightSphere Investment Group Inc. will post 2.59 EPS for the current fiscal year.

BrightSphere Investment Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Morgan Stanley lowered BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $23.00 to $26.00 in a research note on Friday, October 18th. Evercore ISI increased their target price on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. BMO Capital Markets reaffirmed a “sector perform” rating and set a $33.00 price target (up from $30.00) on shares of BrightSphere Investment Group in a research report on Tuesday, December 10th. StockNews.com upgraded shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada downgraded shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $30.00 to $33.00 in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, BrightSphere Investment Group presently has a consensus rating of “Hold” and a consensus price target of $30.75.

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.