Verition Fund Management LLC boosted its position in shares of BrightSphere Investment Group Inc. (NYSE:BSIG – Get Rating) by 35.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 89,950 shares of the company’s stock after buying an additional 23,748 shares during the quarter. Verition Fund Management LLC owned approximately 0.22% of BrightSphere Investment Group worth $2,181,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Natixis Advisors L.P. raised its holdings in BrightSphere Investment Group by 1.2% in the 1st 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 in the last quarter. Citigroup Inc. raised its holdings in BrightSphere Investment Group by 4.1% in the 4th quarter. Citigroup Inc. now owns 44,766 shares of the company’s stock worth $1,146,000 after purchasing an additional 1,781 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in BrightSphere Investment Group by 19.5% in the 4th quarter. Teacher Retirement System of Texas now owns 11,542 shares of the company’s stock worth $295,000 after purchasing an additional 1,886 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in BrightSphere Investment Group by 11.4% in the 1st 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 in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in BrightSphere Investment Group by 51.3% in the 1st quarter. Hsbc Holdings PLC now owns 11,832 shares of the company’s stock worth $289,000 after purchasing an additional 4,012 shares in the last quarter.
Wall Street Analysts Forecast Growth
Separately, Morgan Stanley decreased their price objective on shares of BrightSphere Investment Group from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, July 29th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $27.33.
BrightSphere Investment Group Price Performance
BrightSphere Investment Group (NYSE:BSIG – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.36 by $0.05. BrightSphere Investment Group had a net margin of 65.73% and a return on equity of 46.17%. The company had revenue of $95.50 million for the quarter, compared to the consensus estimate of $96.01 million. During the same period in the prior year, the firm posted $0.40 EPS. Equities analysts anticipate that BrightSphere Investment Group Inc. will post 1.91 EPS for the current fiscal year.
BrightSphere Investment Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.24%. The ex-dividend date is Thursday, September 15th. BrightSphere Investment Group’s dividend payout ratio (DPR) is 0.89%.
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.
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