State of Alaska Department of Revenue Sells 1,430 Shares of BrightSphere Investment Group Inc. (NYSE:BSIG)

State of Alaska Department of Revenue lowered its position in BrightSphere Investment Group Inc. (NYSE:BSIG) by 8.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 15,865 shares of the company’s stock after selling 1,430 shares during the period. State of Alaska Department of Revenue’s holdings in BrightSphere Investment Group were worth $402,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in shares of BrightSphere Investment Group by 0.4% in the second 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 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 buying an additional 2,909 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of 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 buying an additional 115,300 shares during the last quarter. AQR Capital Management LLC raised its position in shares of BrightSphere Investment Group by 28.9% during the 2nd quarter. AQR Capital Management LLC now owns 103,690 shares of the company’s stock valued at $2,299,000 after buying an additional 23,232 shares in the last quarter. Finally, EJF Capital LLC raised its position in shares of BrightSphere Investment Group by 9.2% during the 1st quarter. EJF Capital LLC now owns 98,116 shares of the company’s stock valued at $2,241,000 after buying an additional 8,250 shares in the last quarter. Hedge funds and other institutional investors own 98.69% of the company’s stock.

BrightSphere Investment Group Trading Down 0.2 %

Shares of BrightSphere Investment Group stock opened at $29.25 on Friday. The business has a fifty day simple moving average of $25.39 and a two-hundred day simple moving average of $23.86. The firm has a market capitalization of $1.08 billion, a P/E ratio of 17.73 and a beta of 1.41. BrightSphere Investment Group Inc. has a 12 month low of $15.79 and a 12 month high of $30.35.

BrightSphere Investment Group (NYSE:BSIG) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. The firm had revenue of $123.10 million during the quarter, compared to the consensus estimate 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 period last year, the company earned $0.45 earnings per share. Analysts predict that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current year.

BrightSphere Investment Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.14%. BrightSphere Investment Group’s dividend payout ratio (DPR) is 2.42%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BSIG shares. StockNews.com upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Morgan Stanley cut shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and increased their price target for the company from $23.00 to $26.00 in a research report on Friday, October 18th. Royal Bank of Canada boosted their price objective on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Evercore ISI increased their target price on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a report on Thursday. 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $29.00.

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.