Victory Capital Management Inc. Sells 17,956 Shares of BrightSphere Investment Group Inc. (NYSE:BSIG)

Victory Capital Management Inc. cut its position in shares of BrightSphere Investment Group Inc. (NYSE:BSIG - Free Report) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 524,303 shares of the company's stock after selling 17,956 shares during the quarter. Victory Capital Management Inc. owned 1.41% of BrightSphere Investment Group worth $13,317,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Gladius Capital Management LP bought a new stake in shares of BrightSphere Investment Group in the 2nd quarter worth approximately $32,000. Blue Trust Inc. lifted its position in shares of BrightSphere Investment Group by 2,397.6% during the 3rd quarter. Blue Trust Inc. now owns 3,122 shares of the company's stock valued at $79,000 after acquiring an additional 2,997 shares during the last quarter. Quest Partners LLC bought a new stake in shares of BrightSphere Investment Group during the 2nd quarter worth $147,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of BrightSphere Investment Group by 67.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company's stock worth $195,000 after acquiring an additional 3,561 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of BrightSphere Investment Group in the 1st quarter worth $214,000. 98.69% of the stock is currently owned by institutional investors and hedge funds.

BrightSphere Investment Group Trading Up 0.9 %

Shares of NYSE BSIG opened at $30.18 on Thursday. The firm has a market capitalization of $1.13 billion, a PE ratio of 18.29 and a beta of 1.41. BrightSphere Investment Group Inc. has a one year low of $17.32 and a one year high of $30.49. The business has a 50-day moving average price of $26.51 and a two-hundred day moving average price of $24.31.

BrightSphere Investment Group (NYSE:BSIG - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.07. The firm had revenue of $123.10 million for the quarter, compared to the consensus estimate of $114.95 million. BrightSphere Investment Group had a net margin of 13.92% and a return on equity of 7,606.72%. During the same period in the previous year, the firm posted $0.45 earnings per share. Research analysts anticipate that BrightSphere Investment Group Inc. will post 2.59 EPS for the current year.

BrightSphere Investment Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued 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 2.42%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. StockNews.com upgraded BrightSphere Investment Group from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th. Morgan Stanley cut shares of BrightSphere Investment Group from an "equal weight" rating to an "underweight" rating and raised their target price for the stock from $23.00 to $26.00 in a report on Friday, October 18th. Royal Bank of Canada boosted their price target on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Finally, Evercore ISI upped their price target on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the company an "in-line" rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $29.00.

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.