BrightSphere Investment Group Inc. (NYSE:BSIG) Shares Sold by US Bancorp DE

US Bancorp DE cut its stake in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 24.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,535 shares of the company’s stock after selling 3,077 shares during the period. US Bancorp DE’s holdings in BrightSphere Investment Group were worth $242,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Texas Permanent School Fund Corp raised its holdings in BrightSphere Investment Group by 3.4% in the first quarter. Texas Permanent School Fund Corp now owns 28,335 shares of the company’s stock valued at $647,000 after buying an additional 924 shares during the period. State Board of Administration of Florida Retirement System purchased a new position in shares of BrightSphere Investment Group in the 1st quarter valued at $265,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of BrightSphere Investment Group by 61.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 77,216 shares of the company’s stock valued at $1,756,000 after acquiring an additional 29,302 shares during the period. UniSuper Management Pty Ltd acquired a new position in shares of BrightSphere Investment Group during the 1st quarter valued at $321,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in BrightSphere Investment Group by 8.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 29,326 shares of the company’s stock worth $670,000 after purchasing an additional 2,213 shares during the period. 98.69% of the stock is owned by hedge funds and other institutional investors.

BrightSphere Investment Group Trading Down 1.8 %

BrightSphere Investment Group stock opened at $29.63 on Thursday. BrightSphere Investment Group Inc. has a 52 week low of $16.55 and a 52 week high of $30.49. The stock has a market cap of $1.11 billion, a P/E ratio of 18.25 and a beta of 1.41. The stock has a 50 day moving average of $25.74 and a 200-day moving average of $24.01.

BrightSphere Investment Group (NYSE:BSIG) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. The company had revenue of $123.10 million during the quarter, compared to analyst estimates of $114.95 million. BrightSphere Investment Group had a net margin of 13.92% and a return on equity of 7,606.72%. During the same period last year, the business earned $0.45 EPS. As a group, equities analysts predict that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.01 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.13%. BrightSphere Investment Group’s payout ratio is 2.42%.

Analysts Set New Price Targets

A number of brokerages have commented on BSIG. Royal Bank of Canada boosted their price objective on BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Morgan Stanley downgraded shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $23.00 to $26.00 in a research report on Friday, October 18th. StockNews.com upgraded shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Evercore ISI lifted their price target on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $29.00.

About BrightSphere Investment Group

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.