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Jennison Associates LLC Buys 52,940 Shares of BrightSphere Investment Group Inc. (NYSE:BSIG)

Jennison Associates LLC lifted its stake in shares of BrightSphere Investment Group Inc. (NYSE:BSIGGet Rating) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,128,897 shares of the company’s stock after purchasing an additional 52,940 shares during the quarter. Jennison Associates LLC owned 2.72% of BrightSphere Investment Group worth $16,832,000 as of its most recent SEC filing.

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A number of other hedge funds and other institutional investors also recently made changes to their positions in BSIG. William Blair Investment Management LLC bought a new position in BrightSphere Investment Group in the 2nd quarter worth about $24,622,000. ExodusPoint Capital Management LP boosted its holdings in shares of BrightSphere Investment Group by 3.4% in the 2nd quarter. ExodusPoint Capital Management LP now owns 505,455 shares of the company’s stock worth $9,103,000 after purchasing an additional 16,629 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of BrightSphere Investment Group by 1.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 460,645 shares of the company’s stock worth $11,170,000 after purchasing an additional 7,867 shares in the last quarter. Maltese Capital Management LLC boosted its holdings in shares of BrightSphere Investment Group by 211.1% in the 2nd quarter. Maltese Capital Management LLC now owns 420,000 shares of the company’s stock worth $7,565,000 after purchasing an additional 285,000 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of BrightSphere Investment Group in the 1st quarter worth about $9,312,000.

Analyst Ratings Changes

BSIG has been the subject of several analyst reports. Royal Bank of Canada increased their target price on BrightSphere Investment Group from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, November 7th. StockNews.com initiated coverage on BrightSphere Investment Group in a report on Wednesday, October 12th. They set a “hold” rating for the company. Morgan Stanley increased their target price on BrightSphere Investment Group from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, November 4th. Finally, TheStreet cut BrightSphere Investment Group from a “c” rating to a “d+” rating in a report on Thursday, November 3rd.

BrightSphere Investment Group Stock Performance

NYSE BSIG opened at $21.73 on Wednesday. The stock has a market cap of $900.36 million, a P/E ratio of 9.97 and a beta of 1.58. The stock has a 50 day simple moving average of $19.92 and a two-hundred day simple moving average of $18.61. BrightSphere Investment Group Inc. has a fifty-two week low of $14.73 and a fifty-two week high of $26.48.

BrightSphere Investment Group (NYSE:BSIGGet Rating) last released its earnings results on Thursday, November 3rd. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The firm had revenue of $86.80 million for the quarter, compared to the consensus estimate of $85.89 million. BrightSphere Investment Group had a net margin of 23.92% and a negative return on equity of 153.15%. Sell-side analysts predict that BrightSphere Investment Group Inc. will post 1.7 earnings per share for the current year.

BrightSphere Investment Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 16th were issued a $0.01 dividend. The ex-dividend date was Thursday, December 15th. This represents a $0.04 dividend on an annualized basis and a yield of 0.18%. BrightSphere Investment Group’s payout ratio is currently 1.86%.

BrightSphere Investment Group Profile

(Get Rating)

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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Institutional Ownership by Quarter for BrightSphere Investment Group (NYSE:BSIG)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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