BrightSphere Investment Group Inc. (NYSE:BSIG) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its holdings in BrightSphere Investment Group Inc. (NYSE:BSIG) by 57.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,012 shares of the company’s stock after acquiring an additional 732 shares during the quarter. PNC Financial Services Group Inc.’s holdings in BrightSphere Investment Group were worth $46,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of BrightSphere Investment Group by 89.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 167,100 shares of the company’s stock worth $3,405,000 after purchasing an additional 79,100 shares during the last quarter. Full18 Capital LLC grew its stake in shares of BrightSphere Investment Group by 20.6% in the 1st quarter. Full18 Capital LLC now owns 174,916 shares of the company’s stock worth $3,206,000 after purchasing an additional 29,875 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of BrightSphere Investment Group by 68.9% in the 1st quarter. AQR Capital Management LLC now owns 76,343 shares of the company’s stock worth $1,556,000 after purchasing an additional 31,132 shares during the last quarter. Royce & Associates LP acquired a new position in shares of BrightSphere Investment Group in the 1st quarter worth approximately $526,000. Finally, Ensign Peak Advisors Inc grew its stake in shares of BrightSphere Investment Group by 166.7% in the 1st quarter. Ensign Peak Advisors Inc now owns 36,000 shares of the company’s stock worth $734,000 after purchasing an additional 22,500 shares during the last quarter. 98.70% of the stock is currently owned by institutional investors.

Several equities analysts have recently issued reports on the stock. Evercore ISI reaffirmed a “hold” rating and issued a $26.00 price objective on shares of BrightSphere Investment Group in a research note on Friday, August 6th. Morgan Stanley raised their target price on shares of BrightSphere Investment Group from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, July 30th. Zacks Investment Research cut shares of BrightSphere Investment Group from a “hold” rating to a “sell” rating in a report on Monday, July 12th. Finally, TheStreet upgraded shares of BrightSphere Investment Group from a “c” rating to a “b” rating in a report on Thursday, July 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $25.08.

BSIG stock opened at $26.59 on Thursday. The stock has a market cap of $2.11 billion, a P/E ratio of 2.76 and a beta of 1.69. The firm has a 50 day simple moving average of $26.03 and a 200 day simple moving average of $23.57. BrightSphere Investment Group Inc. has a 52 week low of $12.35 and a 52 week high of $27.68.

BrightSphere Investment Group (NYSE:BSIG) last posted its quarterly earnings results on Wednesday, July 28th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.34 by $0.06. The business had revenue of $133.30 million during the quarter. BrightSphere Investment Group had a net margin of 127.04% and a return on equity of 29.50%. On average, analysts predict that BrightSphere Investment Group Inc. will post 1.39 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 24th. Investors of record on Friday, September 10th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend is Thursday, September 9th. BrightSphere Investment Group’s payout ratio is presently 2.29%.

BrightSphere Investment Group Profile

BrightSphere Investment Group, Inc is a holding company, which engages in the provision of asset management services. It also focuses on the development of new business opportunities in domestic and international markets. The firm operates through the following segments: Quant & Solutions, Alternatives and Liquid Alpha.

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Institutional Ownership by Quarter for BrightSphere Investment Group (NYSE:BSIG)

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