New York State Common Retirement Fund trimmed its position in shares of BrightSphere Investment Group Inc. (NYSE:BSIG – Get Rating) by 36.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,930 shares of the company’s stock after selling 18,977 shares during the quarter. New York State Common Retirement Fund owned approximately 0.08% of BrightSphere Investment Group worth $799,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in BSIG. Point72 Hong Kong Ltd acquired a new stake in shares of BrightSphere Investment Group during the fourth quarter valued at about $168,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of BrightSphere Investment Group by 33.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,544 shares of the company’s stock worth $219,000 after acquiring an additional 2,163 shares during the period. GSA Capital Partners LLP bought a new stake in BrightSphere Investment Group in the fourth quarter valued at approximately $226,000. Teacher Retirement System of Texas increased its position in BrightSphere Investment Group by 19.5% during the 4th quarter. Teacher Retirement System of Texas now owns 11,542 shares of the company’s stock valued at $295,000 after purchasing an additional 1,886 shares during the period. Finally, ProShare Advisors LLC raised its holdings in BrightSphere Investment Group by 53.8% during the 4th quarter. ProShare Advisors LLC now owns 13,794 shares of the company’s stock worth $353,000 after purchasing an additional 4,824 shares during the last quarter. 98.74% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, Morgan Stanley decreased their price objective on shares of BrightSphere Investment Group from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday, July 29th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, BrightSphere Investment Group presently has a consensus rating of “Hold” and an average target price of $27.33.
BrightSphere Investment Group Stock Performance
NYSE BSIG opened at $20.43 on Friday. BrightSphere Investment Group Inc. has a 52-week low of $16.62 and a 52-week high of $31.17. The company has a 50-day simple moving average of $18.67 and a 200 day simple moving average of $21.11. The company has a market capitalization of $846.50 million, a PE ratio of 4.55 and a beta of 1.56.
BrightSphere Investment Group (NYSE:BSIG – Get Rating) last issued its quarterly earnings data 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 return on equity of 46.17% and a net margin of 65.73%. During the same period in the previous year, the company posted $0.40 earnings per share. As a group, analysts forecast that BrightSphere Investment Group Inc. will post 1.91 EPS for the current fiscal year.
BrightSphere Investment Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.04 annualized dividend and a yield of 0.20%. BrightSphere Investment Group’s payout ratio is 0.89%.
BrightSphere Investment Group Company 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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