8,403 Shares in BrightSphere Investment Group Inc. (NYSE:BSIG) Bought by Verition Fund Management LLC

Verition Fund Management LLC acquired a new stake in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 8,403 shares of the company’s stock, valued at approximately $213,000.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings 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 purchasing an additional 2,997 shares during the last quarter. Quest Partners LLC bought a new stake in BrightSphere Investment Group in the 2nd quarter worth about $147,000. Zurcher Kantonalbank Zurich Cantonalbank increased 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 valued at $195,000 after buying an additional 3,561 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of BrightSphere Investment Group during the 1st quarter worth approximately $214,000. Finally, New York State Teachers Retirement System boosted its stake in shares of BrightSphere Investment Group by 24.3% in the 3rd quarter. New York State Teachers Retirement System now owns 13,132 shares of the company’s stock worth $334,000 after buying an additional 2,565 shares during the last quarter. 98.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BSIG has been the subject of a number of research analyst reports. Royal Bank of Canada downgraded BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $30.00 to $33.00 in a research report on Tuesday, December 10th. StockNews.com upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Morgan Stanley downgraded shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $23.00 to $26.00 in a report on Friday, October 18th. BMO Capital Markets restated a “sector perform” rating and set a $33.00 price objective (up previously from $30.00) on shares of BrightSphere Investment Group in a report on Tuesday, December 10th. 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 note on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.75.

BrightSphere Investment Group Stock Performance

BSIG stock opened at $30.12 on Monday. The stock has a fifty day moving average of $28.53 and a 200-day moving average of $25.30. BrightSphere Investment Group Inc. has a fifty-two week low of $18.09 and a fifty-two week high of $31.52. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 18.25 and a beta of 1.45.

BrightSphere Investment Group (NYSE:BSIG) 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. The firm had revenue of $123.10 million during the quarter, compared to analyst estimates 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 last year, the business earned $0.45 earnings per share. Equities analysts predict 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. Shareholders of record on Friday, December 13th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.13%. 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.