Charles Schwab Investment Management Inc. Sells 127,084 Shares of BrightSphere Investment Group Inc. (NYSE:BSIG)

Charles Schwab Investment Management Inc. cut its position in BrightSphere Investment Group Inc. (NYSE:BSIG - Free Report) by 19.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 515,990 shares of the company's stock after selling 127,084 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.39% of BrightSphere Investment Group worth $13,106,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Gladius Capital Management LP acquired a new stake in BrightSphere Investment Group in the second quarter valued at $32,000. Blue Trust Inc. lifted its position in shares of BrightSphere Investment Group by 2,397.6% during the third quarter. Blue Trust Inc. now owns 3,122 shares of the company's stock worth $79,000 after purchasing an additional 2,997 shares during the last quarter. Quest Partners LLC acquired a new position in BrightSphere Investment Group in the second quarter worth about $147,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in BrightSphere Investment Group by 67.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company's stock valued at $195,000 after buying an additional 3,561 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new stake in BrightSphere Investment Group during the first quarter valued at approximately $214,000. 98.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BSIG shares. Royal Bank of Canada boosted their target price on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. StockNews.com raised shares of 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. Finally, Evercore ISI upped their target price on BrightSphere Investment Group from $28.00 to $31.00 and gave the company 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 assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, BrightSphere Investment Group presently has an average rating of "Hold" and a consensus target price of $29.00.

BrightSphere Investment Group Stock Down 1.1 %

BrightSphere Investment Group stock traded down $0.33 during midday trading on Monday, hitting $30.60. The company's stock had a trading volume of 132,802 shares, compared to its average volume of 253,005. BrightSphere Investment Group Inc. has a 12 month low of $18.09 and a 12 month high of $31.52. The company has a market capitalization of $1.14 billion, a PE ratio of 18.68 and a beta of 1.45. The stock's 50-day moving average price is $27.90 and its 200-day moving average price is $25.03.

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

BrightSphere Investment Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.01 dividend. The ex-dividend date 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 (DPR) is presently 2.42%.

BrightSphere Investment Group 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.