BrightSphere Investment Group Inc. (NYSE:BSIG) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in BrightSphere Investment Group Inc. (NYSE:BSIG) by 5.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 356,611 shares of the company’s stock after selling 20,719 shares during the quarter. Bank of New York Mellon Corp owned 0.86% of BrightSphere Investment Group worth $8,409,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Public Employees Retirement System of Ohio grew its holdings in BrightSphere Investment Group by 12.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,532 shares of the company’s stock valued at $68,000 after buying an additional 500 shares during the period. Quadrant Capital Group LLC boosted its position in shares of BrightSphere Investment Group by 974.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,974 shares of the company’s stock worth $82,000 after buying an additional 3,604 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in BrightSphere Investment Group by 49.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,904 shares of the company’s stock valued at $122,000 after acquiring an additional 1,960 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in BrightSphere Investment Group during the 2nd quarter valued at approximately $124,000. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in BrightSphere Investment Group in the third quarter valued at about $152,000. 98.69% of the stock is currently owned by institutional investors and hedge funds.

BrightSphere Investment Group Price Performance

BSIG opened at $21.09 on Monday. The company has a fifty day moving average price of $20.91 and a 200-day moving average price of $22.23. BrightSphere Investment Group Inc. has a one year low of $14.73 and a one year high of $26.88. The firm has a market capitalization of $875.40 million, a P/E ratio of 12.48 and a beta of 1.47.

BrightSphere Investment Group (NYSE:BSIG) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.28 EPS for the quarter, meeting the consensus estimate of $0.28. BrightSphere Investment Group had a negative return on equity of 316.77% and a net margin of 18.01%. The business had revenue of $96.30 million during the quarter, compared to analyst estimates of $93.95 million. On average, analysts expect that BrightSphere Investment Group Inc. will post 1.68 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, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.01 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. BrightSphere Investment Group’s dividend payout ratio is currently 2.37%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BSIG. Morgan Stanley cut their price target on shares of BrightSphere Investment Group from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, August 7th. StockNews.com initiated coverage on BrightSphere Investment Group in a report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Royal Bank of Canada dropped their price target on shares of BrightSphere Investment Group from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday, August 4th.

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.