Quest Partners LLC Increases Stake in BrightSphere Investment Group Inc. (NYSE:BSIG)

Quest Partners LLC increased its position in BrightSphere Investment Group Inc. (NYSE:BSIG - Free Report) by 329.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,459 shares of the company's stock after purchasing an additional 21,825 shares during the quarter. Quest Partners LLC owned approximately 0.08% of BrightSphere Investment Group worth $723,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BSIG. Renaissance Technologies LLC increased its stake in BrightSphere Investment Group by 297.9% in the second quarter. Renaissance Technologies LLC now owns 154,000 shares of the company's stock valued at $3,414,000 after acquiring an additional 115,300 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of BrightSphere Investment Group during the second quarter valued at about $1,870,000. Maverick Capital Ltd. acquired a new stake in shares of BrightSphere Investment Group in the 2nd quarter worth about $1,204,000. Impax Asset Management Group plc grew its position in BrightSphere Investment Group by 4.8% in the 3rd quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company's stock worth $27,910,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of BrightSphere Investment Group during the 1st quarter valued at approximately $853,000. 98.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. StockNews.com upgraded shares of BrightSphere Investment Group from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. Morgan Stanley cut shares of BrightSphere Investment Group from an "equal weight" rating to an "underweight" rating and lifted their price target for the company from $23.00 to $26.00 in a research report on Friday, October 18th. Royal Bank of Canada lifted their price target 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. Finally, Evercore ISI boosted their target price 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 investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $29.00.

BrightSphere Investment Group Price Performance

Shares of BSIG stock traded up $0.49 during mid-day trading on Friday, hitting $31.02. The company had a trading volume of 164,873 shares, compared to its average volume of 257,567. The company has a market capitalization of $1.16 billion, a P/E ratio of 18.80 and a beta of 1.41. The stock's 50 day moving average price is $26.77 and its 200-day moving average price is $24.41. BrightSphere Investment Group Inc. has a 52-week low of $17.32 and a 52-week high of $31.10.

BrightSphere Investment Group (NYSE:BSIG - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. The business 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 quarter in the prior year, the firm posted $0.45 earnings per share. On average, equities research analysts expect that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current year.

BrightSphere Investment Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.13%. The ex-dividend date is Friday, December 13th. BrightSphere Investment Group's payout ratio is 2.42%.

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.