Victory Capital Management Inc. decreased its holdings in BrightSphere Investment Group Inc. (NYSE:BSIG - Free Report) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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.
Other hedge funds also recently made changes to their positions in the company. Gladius Capital Management LP acquired a new stake in shares of BrightSphere Investment Group during the 2nd quarter worth about $32,000. Blue Trust Inc. grew its holdings in BrightSphere Investment Group by 2,397.6% during the 3rd quarter. Blue Trust Inc. now owns 3,122 shares of the company's stock worth $79,000 after acquiring an additional 2,997 shares during the last quarter. Quest Partners LLC bought a new stake in BrightSphere Investment Group during the 2nd quarter worth about $147,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new stake in BrightSphere Investment Group during the 1st quarter worth about $214,000. Institutional investors and hedge funds own 98.69% of the company's stock.
BrightSphere Investment Group Price Performance
Shares of NYSE:BSIG traded up $0.34 during trading on Thursday, reaching $30.53. 136,559 shares of the stock were exchanged, compared to its average volume of 257,717. The stock has a fifty day moving average of $26.51 and a two-hundred day moving average of $24.31. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 18.29 and a beta of 1.41. BrightSphere Investment Group Inc. has a 1-year low of $17.32 and a 1-year high of $30.77.
BrightSphere Investment Group (NYSE:BSIG - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.07. The business had revenue of $123.10 million during 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 prior year, the firm posted $0.45 EPS. Sell-side analysts forecast that BrightSphere Investment Group Inc. will post 2.59 EPS for the current 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 paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Friday, December 13th. BrightSphere Investment Group's dividend payout ratio is presently 2.42%.
Analyst Ratings Changes
Several research analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Morgan Stanley downgraded 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. StockNews.com upgraded shares of BrightSphere Investment Group from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Finally, Evercore ISI boosted 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 report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, BrightSphere Investment Group presently has a consensus rating of "Hold" and an average target price of $29.00.
Check Out Our Latest Stock Report on BSIG
About BrightSphere Investment Group
(
Free Report)
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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