BrightSphere Investment Group Inc. (NYSE:BSIG) Position Decreased by Royce & Associates LP

Royce & Associates LP cut its holdings in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,509 shares of the company’s stock after selling 2,076 shares during the period. Royce & Associates LP owned approximately 0.13% of BrightSphere Investment Group worth $1,258,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its position 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 valued at $3,414,000 after acquiring an additional 115,300 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of BrightSphere Investment Group in the 2nd quarter valued at $1,870,000. Maverick Capital Ltd. acquired a new position in shares of BrightSphere Investment Group in the 2nd quarter valued at $1,204,000. Impax Asset Management Group plc increased 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 purchasing an additional 50,000 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in BrightSphere Investment Group during the first quarter valued at about $853,000. 98.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Morgan Stanley downgraded shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $23.00 to $26.00 in a research report on Friday, October 18th. StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Evercore ISI raised their target price on BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada upped their price target on BrightSphere Investment Group from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, BrightSphere Investment Group has a consensus rating of “Hold” and a consensus price target of $29.00.

BrightSphere Investment Group Stock Up 0.2 %

Shares of NYSE:BSIG opened at $29.91 on Wednesday. The firm has a fifty day moving average of $26.37 and a two-hundred day moving average of $24.27. BrightSphere Investment Group Inc. has a 12-month low of $17.12 and a 12-month high of $30.49. The firm has a market capitalization of $1.12 billion, a P/E ratio of 18.13 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. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. The firm had revenue of $123.10 million during the quarter, compared to analysts’ expectations of $114.95 million. During the same quarter last year, the firm earned $0.45 earnings per share. Equities research analysts expect that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.01 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.13%. BrightSphere Investment Group’s dividend payout ratio is currently 2.42%.

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.