Arizona State Retirement System trimmed its stake in BrightSphere Investment Group Inc. (NYSE:BSIG – Get Rating) by 39.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,710 shares of the company’s stock after selling 6,316 shares during the quarter. Arizona State Retirement System’s holdings in BrightSphere Investment Group were worth $235,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in BrightSphere Investment Group in the fourth quarter valued at $975,000. Yousif Capital Management LLC acquired a new position in BrightSphere Investment Group in the fourth quarter valued at $944,000. Qube Research & Technologies Ltd increased its stake in BrightSphere Investment Group by 1,007.6% in the fourth quarter. Qube Research & Technologies Ltd now owns 125,416 shares of the company’s stock valued at $3,211,000 after purchasing an additional 114,093 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in BrightSphere Investment Group by 33.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,544 shares of the company’s stock valued at $219,000 after purchasing an additional 2,163 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in BrightSphere Investment Group by 23.4% in the fourth quarter. American Century Companies Inc. now owns 107,321 shares of the company’s stock valued at $2,747,000 after purchasing an additional 20,373 shares during the last quarter. 98.74% of the stock is owned by institutional investors and hedge funds.
BrightSphere Investment Group Trading Down 0.6 %
BSIG stock opened at $18.73 on Friday. The stock has a 50-day moving average price of $18.90 and a two-hundred day moving average price of $21.55. BrightSphere Investment Group Inc. has a 12-month low of $16.62 and a 12-month high of $31.17. The company has a market cap of $775.89 million, a PE ratio of 4.17 and a beta of 1.56.
BrightSphere Investment Group (NYSE:BSIG – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). BrightSphere Investment Group had a net margin of 65.73% and a return on equity of 46.17%. During the same period in the previous year, the company posted $0.40 EPS. Equities analysts forecast that BrightSphere Investment Group Inc. will post 1.91 EPS for the current fiscal year.
BrightSphere Investment Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.21%. The ex-dividend date is Thursday, September 15th. BrightSphere Investment Group’s payout ratio is 0.89%.
Analysts Set New Price Targets
Separately, Morgan Stanley dropped their target price on BrightSphere Investment Group from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Friday, July 29th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $27.00.
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.
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