Quest Partners LLC Purchases 21,825 Shares of BrightSphere Investment Group Inc. (NYSE:BSIG)

Quest Partners LLC grew its holdings in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 329.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 28,459 shares of the company’s stock after buying an additional 21,825 shares during the period. Quest Partners LLC’s holdings in BrightSphere Investment Group were worth $723,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GSA Capital Partners LLP increased its stake in BrightSphere Investment Group by 29.4% in the third quarter. GSA Capital Partners LLP now owns 46,993 shares of the company’s stock worth $1,194,000 after purchasing an additional 10,674 shares during the period. Impax Asset Management Group plc grew its holdings in shares of BrightSphere Investment Group by 4.8% in 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 last quarter. New York State Teachers Retirement System increased its stake in BrightSphere Investment Group by 24.3% in 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. Assenagon Asset Management S.A. increased its stake in BrightSphere Investment Group by 3.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 55,574 shares of the company’s stock worth $1,412,000 after buying an additional 1,805 shares during the period. Finally, Blue Trust Inc. lifted its holdings in BrightSphere Investment Group by 2,397.6% during the 3rd quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock valued at $79,000 after buying an additional 2,997 shares in the last quarter. 98.69% of the stock is currently owned by hedge funds and other institutional investors.

BrightSphere Investment Group Stock Performance

NYSE:BSIG opened at $30.53 on Friday. The company’s 50-day simple moving average is $26.64 and its 200-day simple moving average is $24.35. BrightSphere Investment Group Inc. has a fifty-two week low of $17.32 and a fifty-two week high of $30.76. The stock has a market capitalization of $1.14 billion, a P/E ratio of 18.50 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.59 EPS 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 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 in the prior year, the business posted $0.45 EPS. On average, research analysts forecast that BrightSphere Investment Group Inc. will post 2.59 EPS for the current year.

BrightSphere Investment Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid 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 payout ratio is currently 2.42%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BSIG shares. Morgan Stanley lowered BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $23.00 to $26.00 in a report on Friday, October 18th. Royal Bank of Canada upped their target price on BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Evercore ISI raised their price target on BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, StockNews.com upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.