Jane Street Group LLC Sells 4,958 Shares of BrightSphere Investment Group Inc. (NYSE:BSIG)

Jane Street Group LLC reduced its stake in BrightSphere Investment Group Inc. (NYSE:BSIG) by 4.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 118,745 shares of the company’s stock after selling 4,958 shares during the period. Jane Street Group LLC’s holdings in BrightSphere Investment Group were worth $3,016,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BSIG. Weiss Asset Management LP purchased a new position in shares of BrightSphere Investment Group during the 3rd quarter worth approximately $477,000. Point72 Asset Management L.P. bought a new stake in shares of BrightSphere Investment Group during the third quarter valued at approximately $89,000. Azora Capital LP grew its stake in BrightSphere Investment Group by 10.7% in the third quarter. Azora Capital LP now owns 2,028,358 shares of the company’s stock worth $51,520,000 after purchasing an additional 195,728 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in BrightSphere Investment Group in the third quarter worth $311,000. Finally, PDT Partners LLC lifted its position in BrightSphere Investment Group by 13.0% during the third quarter. PDT Partners LLC now owns 47,166 shares of the company’s stock valued at $1,198,000 after buying an additional 5,418 shares during the period. 98.69% of the stock is currently owned by hedge funds and other institutional investors.

BrightSphere Investment Group Trading Down 3.6 %

BSIG stock opened at $27.01 on Friday. The stock’s 50 day simple moving average is $28.97 and its 200 day simple moving average is $25.48. BrightSphere Investment Group Inc. has a 12-month low of $18.09 and a 12-month high of $31.52. The stock has a market capitalization of $1.01 billion, a PE ratio of 16.37 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $114.95 million. During the same period in the prior year, the company posted $0.45 earnings per share. On average, research analysts predict that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current year.

BrightSphere Investment Group Dividend Announcement

The business also recently declared 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend is Friday, December 13th. BrightSphere Investment Group’s payout ratio is presently 2.42%.

Wall Street Analysts Forecast Growth

BSIG has been the topic of a number of recent research reports. Evercore ISI upped their target price on shares of 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. Morgan Stanley decreased their target price on shares of BrightSphere Investment Group from $26.00 to $25.00 and set an “underweight” rating for the company in a research note on Friday. Royal Bank of Canada lowered shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $30.00 to $33.00 in a 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. Finally, BMO Capital Markets reissued a “sector perform” rating and issued a $33.00 target price (up from $30.00) on shares of BrightSphere Investment Group in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.50.

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.