Charles Schwab Investment Management Inc. Has $13.11 Million Stake in BrightSphere Investment Group Inc. (NYSE:BSIG)

Charles Schwab Investment Management Inc. reduced its stake in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 19.8% in the 3rd quarter, according to its most recent 13F filing 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.’s holdings in BrightSphere Investment Group were worth $13,106,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Gladius Capital Management LP bought a new position in BrightSphere Investment Group during the 2nd quarter worth approximately $32,000. Blue Trust Inc. raised its holdings in shares of BrightSphere Investment Group by 2,397.6% in the 3rd quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock valued at $79,000 after purchasing an additional 2,997 shares during the period. Quest Partners LLC acquired a new position in shares of BrightSphere Investment Group during the 2nd quarter worth approximately $147,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of 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 purchasing an additional 3,561 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new stake in BrightSphere Investment Group during the first quarter worth approximately $214,000. 98.69% of the stock is currently owned by institutional investors and hedge funds.

BrightSphere Investment Group Trading Down 0.5 %

NYSE:BSIG opened at $30.93 on Monday. The firm has a fifty day simple moving average of $27.90 and a two-hundred day simple moving average of $25.01. BrightSphere Investment Group Inc. has a 12 month low of $17.99 and a 12 month high of $31.52. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 18.75 and a beta of 1.45.

BrightSphere Investment Group (NYSE:BSIG) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $114.95 million. During the same period last year, the firm earned $0.45 earnings per share. Equities analysts predict that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

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 dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.13%. The ex-dividend date is Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio is presently 2.42%.

Analysts Set New Price Targets

BSIG has been the topic of several research reports. Royal Bank of Canada upped their price target 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 upgraded 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 upped their price target for the company from $23.00 to $26.00 in a research report on Friday, October 18th. Finally, Evercore ISI raised their price objective on BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $29.00.

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.