Royce & Associates LP Has $1.26 Million Holdings in BrightSphere Investment Group Inc. (NYSE:BSIG)

Royce & Associates LP trimmed its holdings in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 4.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 49,509 shares of the company’s stock after selling 2,076 shares during the period. Royce & Associates LP’s holdings in BrightSphere Investment Group were worth $1,258,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in shares of BrightSphere Investment Group by 297.9% during 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. Marshall Wace LLP acquired a new stake in BrightSphere Investment Group in the 2nd quarter worth approximately $1,870,000. Maverick Capital Ltd. acquired a new stake in BrightSphere Investment Group in the 2nd quarter worth approximately $1,204,000. Impax Asset Management Group plc boosted its position in BrightSphere Investment Group by 4.8% during the third quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock worth $27,910,000 after purchasing an additional 50,000 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of BrightSphere Investment Group in the first quarter valued at approximately $853,000. 98.69% of the stock is owned by institutional investors and hedge funds.

BrightSphere Investment Group Stock Performance

NYSE BSIG opened at $29.91 on Wednesday. BrightSphere Investment Group Inc. has a twelve month low of $17.12 and a twelve month high of $30.49. The stock has a market cap of $1.12 billion, a PE ratio of 18.13 and a beta of 1.41. The firm has a 50-day simple moving average of $26.37 and a 200 day simple moving average of $24.27.

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 for the quarter, compared to analyst estimates 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 firm earned $0.45 EPS. Research analysts forecast that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

The firm 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 dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.13%. BrightSphere Investment Group’s dividend payout ratio (DPR) is currently 2.42%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada upped their price target on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Evercore ISI lifted their price objective on 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. Finally, Morgan Stanley downgraded BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and increased their target price for the company from $23.00 to $26.00 in a research note on Friday, October 18th. One 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 data from MarketBeat.com, BrightSphere Investment Group presently has an average rating of “Hold” and a consensus target price of $29.00.

BrightSphere Investment Group 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.