Public Sector Pension Investment Board Trims Stock Holdings in BrightSphere Investment Group Inc. (NYSE:BSIG)

Public Sector Pension Investment Board decreased its position in BrightSphere Investment Group Inc. (NYSE:BSIG) by 8.9% in the third quarter, HoldingsChannel.com reports. The fund owned 59,007 shares of the company’s stock after selling 5,800 shares during the period. Public Sector Pension Investment Board’s holdings in BrightSphere Investment Group were worth $1,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gladius Capital Management LP purchased a new position in BrightSphere Investment Group in the 2nd quarter worth $32,000. Blue Trust Inc. raised its stake in BrightSphere Investment Group by 2,397.6% in 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 purchased a new position in BrightSphere Investment Group in the 2nd quarter worth $147,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in BrightSphere Investment Group by 67.9% in 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 purchased a new position in BrightSphere Investment Group in the 1st quarter worth $214,000. Hedge funds and other institutional investors own 98.69% of the company’s stock.

BrightSphere Investment Group Stock Down 0.3 %

Shares of BrightSphere Investment Group stock opened at $30.97 on Friday. BrightSphere Investment Group Inc. has a twelve month low of $17.99 and a twelve month high of $31.52. The business has a 50-day moving average price of $27.79 and a 200 day moving average price of $24.93. The firm has a market cap of $1.16 billion, a PE ratio of 18.83 and a beta of 1.45.

BrightSphere Investment Group (NYSE:BSIG) last announced its quarterly 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. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. The firm had revenue of $123.10 million during the quarter, compared to analyst estimates of $114.95 million. During the same quarter in the previous year, the business earned $0.45 EPS. On average, sell-side analysts expect 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 $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 payout ratio is 2.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BSIG shares. Evercore ISI lifted 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. Royal Bank of Canada lifted their price objective on 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 upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley lowered BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $23.00 to $26.00 in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus 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.