UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.58 Million Stake in BrightSphere Investment Group Inc. (NYSE:BSIG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 11.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 62,305 shares of the company’s stock after selling 7,689 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in BrightSphere Investment Group were worth $1,583,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Blue Trust Inc. boosted its position in BrightSphere Investment Group by 2,397.6% during the third quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock worth $79,000 after purchasing an additional 2,997 shares during the period. Quest Partners LLC acquired a new stake in shares of BrightSphere Investment Group during the 2nd quarter worth about $147,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of BrightSphere Investment Group by 67.9% during the 2nd 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 during the period. New York State Teachers Retirement System boosted its holdings in shares of BrightSphere Investment Group by 24.3% during the 3rd quarter. New York State Teachers Retirement System now owns 13,132 shares of the company’s stock worth $334,000 after buying an additional 2,565 shares during the period. Finally, Creative Planning grew its stake in BrightSphere Investment Group by 7.6% in the 2nd quarter. Creative Planning now owns 17,553 shares of the company’s stock valued at $389,000 after buying an additional 1,235 shares during the last quarter. 98.69% of the stock is owned by institutional investors and hedge funds.

BrightSphere Investment Group Price Performance

BrightSphere Investment Group stock opened at $30.27 on Tuesday. The firm has a market cap of $1.13 billion, a PE ratio of 18.35 and a beta of 1.45. The stock’s fifty day moving average price is $28.67 and its two-hundred day moving average price is $25.36. BrightSphere Investment Group Inc. has a one year low of $18.09 and a one year high of $31.52.

BrightSphere Investment Group (NYSE:BSIG) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $123.10 million for the quarter, compared to analysts’ expectations of $114.95 million. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. During the same quarter last year, the business earned $0.45 earnings per share. Sell-side analysts expect 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. Stockholders of record on Friday, December 13th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Friday, December 13th. BrightSphere Investment Group’s payout ratio is presently 2.42%.

Analyst Upgrades and Downgrades

BSIG has been the subject of several research reports. BMO Capital Markets restated a “sector perform” rating and set a $33.00 price objective (up from $30.00) on shares of BrightSphere Investment Group in a research report on Tuesday, December 10th. StockNews.com upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Royal Bank of Canada lowered BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $30.00 to $33.00 in a report on Tuesday, December 10th. Evercore ISI lifted their target price on BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, Morgan Stanley cut shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $23.00 to $26.00 in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.75.

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.