Summit Global Investments Buys Shares of 17,928 BrightSphere Investment Group Inc. (NYSE:BSIG)

Summit Global Investments bought a new position in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 17,928 shares of the company’s stock, valued at approximately $344,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of BrightSphere Investment Group by 48.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,790 shares of the company’s stock worth $170,000 after acquiring an additional 2,886 shares in the last quarter. Federated Hermes Inc. increased its position in shares of BrightSphere Investment Group by 16.3% during the third quarter. Federated Hermes Inc. now owns 9,846 shares of the company’s stock worth $191,000 after acquiring an additional 1,383 shares in the last quarter. Linden Thomas Advisory Services LLC raised its holdings in shares of BrightSphere Investment Group by 20.8% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 12,600 shares of the company’s stock worth $241,000 after acquiring an additional 2,171 shares during the period. New York State Teachers Retirement System lifted its position in BrightSphere Investment Group by 22.9% in the 3rd quarter. New York State Teachers Retirement System now owns 15,079 shares of the company’s stock valued at $292,000 after acquiring an additional 2,813 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in BrightSphere Investment Group in the 3rd quarter worth $304,000. 98.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $24.00 target price on shares of BrightSphere Investment Group in a research report on Friday, February 2nd. StockNews.com upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Friday. Morgan Stanley upped their price objective on BrightSphere Investment Group from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, January 19th. Finally, TheStreet upgraded shares of BrightSphere Investment Group from a “d+” rating to a “c-” rating in a research note on Thursday, January 25th.

BrightSphere Investment Group Stock Performance

NYSE BSIG opened at $22.56 on Monday. BrightSphere Investment Group Inc. has a fifty-two week low of $15.23 and a fifty-two week high of $23.63. The stock has a market cap of $854.12 million, a PE ratio of 13.76 and a beta of 1.47. The firm’s fifty day moving average price is $22.70 and its two-hundred day moving average price is $20.30.

BrightSphere Investment Group (NYSE:BSIG) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.19. BrightSphere Investment Group had a net margin of 15.53% and a return on equity of 438.16%. The business had revenue of $131.20 million for the quarter, compared to analysts’ expectations of $127.57 million. As a group, sell-side analysts predict that BrightSphere Investment Group Inc. will post 2.18 earnings per share for the current fiscal year.

BrightSphere Investment Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.18%. BrightSphere Investment Group’s dividend payout ratio is currently 2.44%.

Insider Activity at BrightSphere Investment Group

In other news, CEO Suren Rana sold 109,960 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $20.74, for a total transaction of $2,280,570.40. Following the transaction, the chief executive officer now owns 130,967 shares of the company’s stock, valued at approximately $2,716,255.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 24.90% of the stock is owned by corporate insiders.

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.