Royce & Associates LP reduced its stake in BrightSphere Investment Group Inc. (NYSE:BSIG – Free Report) by 38.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,710 shares of the company’s stock after selling 24,384 shares during the period. Royce & Associates LP owned about 0.10% of BrightSphere Investment Group worth $936,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AlphaCrest Capital Management LLC purchased a new position in shares of BrightSphere Investment Group in the first quarter worth $240,000. Natixis Advisors L.P. grew its stake in shares of BrightSphere Investment Group by 1.2% in the first quarter. Natixis Advisors L.P. now owns 63,964 shares of the company’s stock worth $1,551,000 after purchasing an additional 744 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of BrightSphere Investment Group by 11.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,194 shares of the company’s stock worth $732,000 after purchasing an additional 3,100 shares during the last quarter. Sei Investments Co. grew its stake in shares of BrightSphere Investment Group by 9.7% in the first quarter. Sei Investments Co. now owns 49,953 shares of the company’s stock worth $1,211,000 after purchasing an additional 4,408 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of BrightSphere Investment Group in the first quarter worth about $9,312,000. Institutional investors own 98.46% of the company’s stock.
BrightSphere Investment Group Trading Up 2.9 %
Shares of NYSE:BSIG opened at $20.60 on Friday. The stock has a fifty day simple moving average of $21.51 and a two-hundred day simple moving average of $22.75. The stock has a market capitalization of $854.08 million, a price-to-earnings ratio of 12.19 and a beta of 1.47. BrightSphere Investment Group Inc. has a 12-month low of $14.73 and a 12-month high of $26.88.
BrightSphere Investment Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Thursday, September 14th. BrightSphere Investment Group’s dividend payout ratio (DPR) is 2.37%.
Analyst Ratings Changes
BSIG has been the subject of a number of research analyst reports. Morgan Stanley raised their price target on BrightSphere Investment Group from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, April 14th. TheStreet downgraded shares of BrightSphere Investment Group from a “c” rating to a “d+” rating in a research note on Thursday, May 4th. StockNews.com raised shares of BrightSphere Investment Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, Royal Bank of Canada reduced their price target on BrightSphere Investment Group from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday.
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.
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