Assenagon Asset Management S.A. lessened its stake in shares of BrightSphere Investment Group Inc. (NYSE:BSIG – Get Rating) by 79.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,739 shares of the company’s stock after selling 73,838 shares during the period. Assenagon Asset Management S.A.’s holdings in BrightSphere Investment Group were worth $279,000 as of its most recent SEC filing.
→ Apple, Amazon, and Walmart are Investing in Solar Energy (From Investing Trends)
Other large investors have also added to or reduced their stakes in the company. AlphaCrest Capital Management LLC purchased a new position in shares of BrightSphere Investment Group in the first quarter worth about $240,000. Natixis Advisors L.P. increased its stake in shares of BrightSphere Investment Group by 1.2% in the first quarter. Natixis Advisors L.P. now owns 63,964 shares of the company’s stock worth $1,551,000 after purchasing an additional 744 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of BrightSphere Investment Group by 11.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,194 shares of the company’s stock worth $732,000 after purchasing an additional 3,100 shares in the last quarter. Sei Investments Co. increased its stake in shares of BrightSphere Investment Group by 9.7% in the first quarter. Sei Investments Co. now owns 49,953 shares of the company’s stock worth $1,211,000 after purchasing an additional 4,408 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of BrightSphere Investment Group in the first quarter worth about $9,312,000.
Analyst Upgrades and Downgrades
BSIG has been the subject of several recent research reports. TheStreet downgraded shares of BrightSphere Investment Group from a “c” rating to a “d+” rating in a research note on Thursday, November 3rd. Morgan Stanley raised their price objective on shares of BrightSphere Investment Group from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, November 4th. StockNews.com began coverage on shares of BrightSphere Investment Group in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada raised their price objective on shares of BrightSphere Investment Group from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, November 7th.
BrightSphere Investment Group Price Performance
Shares of BrightSphere Investment Group stock opened at $21.69 on Thursday. BrightSphere Investment Group Inc. has a 1 year low of $14.73 and a 1 year high of $26.48. The firm has a market cap of $898.70 million, a PE ratio of 10.09 and a beta of 1.58. The company has a 50 day simple moving average of $19.97 and a two-hundred day simple moving average of $18.63.
BrightSphere Investment Group (NYSE:BSIG – Get Rating) last announced its earnings results on Thursday, November 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. BrightSphere Investment Group had a net margin of 23.92% and a negative return on equity of 153.15%. The business had revenue of $86.80 million during the quarter, compared to analyst estimates of $85.89 million. As a group, research analysts anticipate that BrightSphere Investment Group Inc. will post 1.7 earnings per share for the current year.
BrightSphere Investment Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 16th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%. BrightSphere Investment Group’s payout ratio is 1.86%.
About BrightSphere Investment Group
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to firstname.lastname@example.org.
Before you consider BrightSphere Investment Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and BrightSphere Investment Group wasn’t on the list.
While BrightSphere Investment Group currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.