BrightSphere Investment Group Inc. (NYSE:BSIG) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its holdings in BrightSphere Investment Group Inc. (NYSE:BSIG) by 9.6% during the 3rd quarter, Holdings Channel reports. The firm owned 8,217 shares of the company’s stock after selling 869 shares during the quarter. Amalgamated Bank’s holdings in BrightSphere Investment Group were worth $209,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System purchased a new position in shares of BrightSphere Investment Group in the first quarter valued at approximately $265,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of BrightSphere Investment Group by 61.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 77,216 shares of the company’s stock valued at $1,756,000 after acquiring an additional 29,302 shares in the last quarter. UniSuper Management Pty Ltd purchased a new position in shares of BrightSphere Investment Group in the first quarter valued at approximately $321,000. CANADA LIFE ASSURANCE Co lifted its position in shares of BrightSphere Investment Group by 8.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 29,326 shares of the company’s stock valued at $670,000 after acquiring an additional 2,213 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its position in shares of BrightSphere Investment Group by 12.6% in the first quarter. Quadrature Capital Ltd now owns 23,082 shares of the company’s stock valued at $527,000 after acquiring an additional 2,588 shares in the last quarter. 98.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

BrightSphere Investment Group Trading Down 0.2 %

Shares of NYSE BSIG opened at $29.59 on Monday. BrightSphere Investment Group Inc. has a twelve month low of $17.05 and a twelve month high of $30.49. The stock has a fifty day simple moving average of $26.11 and a 200-day simple moving average of $24.16. The stock has a market capitalization of $1.10 billion, a PE ratio of 17.93 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last released its earnings results on Thursday, October 31st. The company reported $0.59 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $0.45 EPS. On average, equities analysts predict that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current year.

BrightSphere Investment Group Dividend Announcement

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

About BrightSphere Investment Group

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.