Algert Global LLC Trims Stake in BrightSphere Investment Group Inc. (NYSE:BSIG)

Algert Global LLC reduced its position in BrightSphere Investment Group Inc. (NYSE:BSIG) by 65.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,350 shares of the company’s stock after selling 101,090 shares during the quarter. Algert Global LLC owned 0.14% of BrightSphere Investment Group worth $1,355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in BrightSphere Investment Group by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,126,772 shares of the company’s stock worth $24,980,000 after purchasing an additional 4,399 shares during the period. Impax Asset Management Group plc grew its stake in BrightSphere Investment Group by 4.8% in the 3rd quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock worth $27,910,000 after acquiring an additional 50,000 shares in the last quarter. Jennison Associates LLC grew its stake in BrightSphere Investment Group by 25.3% in the 3rd quarter. Jennison Associates LLC now owns 968,936 shares of the company’s stock worth $24,611,000 after acquiring an additional 195,417 shares in the last quarter. Denali Advisors LLC grew its stake in BrightSphere Investment Group by 1.9% in the 2nd quarter. Denali Advisors LLC now owns 160,000 shares of the company’s stock worth $3,547,000 after acquiring an additional 2,909 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in BrightSphere Investment Group by 297.9% in the 2nd quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock worth $3,414,000 after acquiring an additional 115,300 shares in the last quarter. 98.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com upgraded shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Evercore ISI upped their target price 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. Morgan Stanley downgraded shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $23.00 to $26.00 in a research note on Friday, October 18th. Finally, Royal Bank of Canada increased their price objective on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.00.

BrightSphere Investment Group Stock Performance

NYSE BSIG opened at $31.21 on Friday. The firm’s 50 day moving average price is $27.14 and its 200-day moving average price is $24.60. BrightSphere Investment Group Inc. has a 52-week low of $17.32 and a 52-week high of $31.51. The company has a market cap of $1.16 billion, a PE ratio of 18.92 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $123.10 million for the quarter, compared to the consensus estimate 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 firm earned $0.45 earnings per share. On average, analysts forecast that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current fiscal year.

BrightSphere Investment Group Announces Dividend

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

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.