Fmr LLC Trims Position in BrightSphere Investment Group Inc. (NYSE:BSIG)

Fmr LLC decreased its holdings in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 15.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,520 shares of the company’s stock after selling 661 shares during the quarter. Fmr LLC’s holdings in BrightSphere Investment Group were worth $89,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Renaissance Technologies LLC boosted its position in shares of BrightSphere Investment Group by 297.9% in the second quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock worth $3,414,000 after acquiring an additional 115,300 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in shares of BrightSphere Investment Group during the 2nd quarter worth about $1,204,000. Impax Asset Management Group plc increased its position in BrightSphere Investment Group by 4.8% during the 3rd quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock worth $27,910,000 after purchasing an additional 50,000 shares in the last quarter. Quest Partners LLC raised its holdings in BrightSphere Investment Group by 329.0% in the third quarter. Quest Partners LLC now owns 28,459 shares of the company’s stock valued at $723,000 after buying an additional 21,825 shares during the period. Finally, Marshall Wace LLP purchased a new stake in BrightSphere Investment Group during the second quarter worth approximately $1,870,000. Hedge funds and other institutional investors own 98.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BSIG shares. StockNews.com raised shares of 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 objective (up from $30.00) on shares of BrightSphere Investment Group in a research report on Tuesday, December 10th. Morgan Stanley decreased their target price on BrightSphere Investment Group from $26.00 to $25.00 and set an “underweight” rating for the company in a research report on Friday. Royal Bank of Canada lowered BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $30.00 to $33.00 in a research note on Tuesday, December 10th. Finally, Evercore ISI boosted their price target on 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.50.

BrightSphere Investment Group Price Performance

Shares of BrightSphere Investment Group stock opened at $26.73 on Tuesday. The company has a market capitalization of $997.51 million, a PE ratio of 16.20 and a beta of 1.45. BrightSphere Investment Group Inc. has a 1-year low of $18.09 and a 1-year high of $31.52. The business has a 50-day moving average of $28.97 and a 200-day moving average of $25.52.

BrightSphere Investment Group (NYSE:BSIG) last announced its earnings results on Thursday, October 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating 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 company posted $0.45 EPS. On average, equities analysts expect 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 issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend is Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio is presently 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.