Rhumbline Advisers Sells 11,719 Shares of BrightSphere Investment Group Inc. (NYSE:BSIG)

Rhumbline Advisers reduced its stake in BrightSphere Investment Group Inc. (NYSE:BSIG) by 11.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,322 shares of the company’s stock after selling 11,719 shares during the period. Rhumbline Advisers owned 0.23% of BrightSphere Investment Group worth $1,958,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Gladius Capital Management LP bought a new position in BrightSphere Investment Group in the second quarter worth about $32,000. PNC Financial Services Group Inc. raised its stake in BrightSphere Investment Group by 29.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,885 shares of the company’s stock worth $94,000 after buying an additional 1,106 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in BrightSphere Investment Group by 67.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock worth $195,000 after buying an additional 3,561 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in BrightSphere Investment Group in the first quarter worth about $214,000. Finally, State Board of Administration of Florida Retirement System bought a new position in BrightSphere Investment Group in the first quarter worth about $265,000. 98.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of BrightSphere Investment Group from a “buy” rating to a “hold” rating in a report on Monday, July 22nd.

BrightSphere Investment Group Stock Up 2.8 %

NYSE:BSIG opened at $25.83 on Friday. The company’s 50 day moving average price is $23.93 and its 200-day moving average price is $23.05. BrightSphere Investment Group Inc. has a 52 week low of $15.23 and a 52 week high of $26.57. The stock has a market cap of $975.44 million, a price-to-earnings ratio of 15.75 and a beta of 1.42.

BrightSphere Investment Group (NYSE:BSIG) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. BrightSphere Investment Group had a net margin of 15.00% and a return on equity of 871.33%. The firm had revenue of $109.00 million for the quarter, compared to analysts’ expectations of $104.72 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. As a group, sell-side analysts anticipate that BrightSphere Investment Group Inc. will post 2.31 earnings per share for the current year.

BrightSphere Investment Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 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 is Friday, September 13th. BrightSphere Investment Group’s payout ratio is 2.44%.

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.