Jennison Associates LLC boosted its position in BrightSphere Investment Group Inc. (NYSE:BSIG - Free Report) by 25.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 968,936 shares of the company's stock after buying an additional 195,417 shares during the quarter. Jennison Associates LLC owned approximately 2.61% of BrightSphere Investment Group worth $24,611,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the company. Gladius Capital Management LP bought a new stake in BrightSphere Investment Group during the second quarter worth about $32,000. Blue Trust Inc. grew its stake in shares of BrightSphere Investment Group by 2,397.6% in the third quarter. Blue Trust Inc. now owns 3,122 shares of the company's stock valued at $79,000 after buying an additional 2,997 shares in the last quarter. Quest Partners LLC acquired a new position in BrightSphere Investment Group during the second quarter worth $147,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in BrightSphere Investment Group by 67.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company's stock worth $195,000 after buying 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 first quarter worth $214,000. Institutional investors own 98.69% of the company's stock.
BrightSphere Investment Group Trading Up 1.4 %
Shares of NYSE:BSIG traded up $0.44 during trading on Friday, reaching $30.97. 164,873 shares of the stock were exchanged, compared to its average volume of 216,803. BrightSphere Investment Group Inc. has a 12 month low of $17.32 and a 12 month high of $31.10. The stock has a 50-day moving average price of $26.77 and a 200-day moving average price of $24.42. The firm has a market cap of $1.16 billion, a PE ratio of 18.77 and a beta of 1.41.
BrightSphere Investment Group (NYSE:BSIG - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. The firm had revenue of $123.10 million for the quarter, compared to analysts' expectations of $114.95 million. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. During the same quarter last year, the business earned $0.45 EPS. On average, sell-side analysts expect that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current fiscal 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 issued a dividend of $0.01 per share. 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 is presently 2.42%.
Analyst Ratings Changes
Several research analysts have recently weighed in on BSIG shares. Morgan Stanley lowered shares of BrightSphere Investment Group from an "equal weight" rating to an "underweight" rating and boosted their price objective for the stock from $23.00 to $26.00 in a research note on Friday, October 18th. Evercore ISI upped their price objective on BrightSphere Investment Group from $28.00 to $31.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. StockNews.com upgraded BrightSphere Investment Group from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada raised their price target on BrightSphere Investment Group from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, BrightSphere Investment Group has an average rating of "Hold" and a consensus price target of $29.00.
View Our Latest Stock Report on BSIG
BrightSphere Investment Group Company Profile
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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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