Royce & Associates LP reduced its stake in shares of BrightSphere Investment Group Inc. (NYSE:BSIG – Get Rating) by 73.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,273 shares of the company’s stock after selling 202,891 shares during the quarter. Royce & Associates LP owned about 0.18% of BrightSphere Investment Group worth $1,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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A number of other institutional investors have also added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its holdings in BrightSphere Investment Group by 6.7% during the 3rd quarter. Victory Capital Management Inc. now owns 18,669 shares of the company’s stock valued at $278,000 after buying an additional 1,176 shares in the last quarter. Great West Life Assurance Co. Can purchased a new stake in BrightSphere Investment Group during the 3rd quarter valued at approximately $501,000. Jennison Associates LLC grew its holdings in BrightSphere Investment Group by 4.9% during the 3rd quarter. Jennison Associates LLC now owns 1,128,897 shares of the company’s stock valued at $16,832,000 after buying an additional 52,940 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in BrightSphere Investment Group by 6.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 29,054 shares of the company’s stock valued at $434,000 after buying an additional 1,846 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of BrightSphere Investment Group by 37.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,400 shares of the company’s stock valued at $125,000 after acquiring an additional 2,277 shares during the last quarter.
Wall Street Analyst Weigh In
BSIG has been the subject of a number of research reports. StockNews.com initiated coverage on BrightSphere Investment Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Royal Bank of Canada increased their target price on BrightSphere Investment Group from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, November 7th. Morgan Stanley increased their target price on BrightSphere Investment Group from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, January 19th. Finally, TheStreet downgraded BrightSphere Investment Group from a “c” rating to a “d+” rating in a research report on Thursday, November 3rd.
BrightSphere Investment Group Stock Down 0.7 %
Shares of BSIG opened at $22.34 on Thursday. The company has a market cap of $925.55 million, a PE ratio of 10.39 and a beta of 1.58. The business has a fifty day moving average of $20.28 and a 200 day moving average of $18.81. BrightSphere Investment Group Inc. has a 52-week low of $14.73 and a 52-week high of $26.48.
BrightSphere Investment Group (NYSE:BSIG – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $86.80 million during the quarter, compared to the consensus estimate of $85.89 million. BrightSphere Investment Group had a negative return on equity of 153.15% and a net margin of 23.92%. As a group, research analysts anticipate that BrightSphere Investment Group Inc. will post 1.71 earnings per share for the current fiscal year.
BrightSphere Investment Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 16th were given 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 yield of 0.18%. BrightSphere Investment Group’s dividend payout ratio is presently 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.
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