BrightSphere Investment Group Inc. (NYSE:BSIG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 51.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,512 shares of the company’s stock after selling 7,939 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in BrightSphere Investment Group were worth $144,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Richard Bernstein Advisors LLC acquired a new stake in BrightSphere Investment Group during the 3rd quarter valued at approximately $2,680,000. Bank of New York Mellon Corp raised its holdings in shares of BrightSphere Investment Group by 7.3% during the third quarter. Bank of New York Mellon Corp now owns 360,441 shares of the company’s stock worth $6,989,000 after purchasing an additional 24,599 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in BrightSphere Investment Group by 351.9% during the third quarter. Qube Research & Technologies Ltd now owns 151,299 shares of the company’s stock valued at $2,934,000 after purchasing an additional 117,818 shares during the period. North Reef Capital Management LP boosted its holdings in BrightSphere Investment Group by 1.9% in the third quarter. North Reef Capital Management LP now owns 1,700,000 shares of the company’s stock valued at $32,963,000 after purchasing an additional 31,717 shares during the last quarter. Finally, Graham Capital Management L.P. purchased a new stake in BrightSphere Investment Group in the third quarter valued at $388,000. Hedge funds and other institutional investors own 98.69% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BSIG shares. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 price objective on shares of BrightSphere Investment Group in a report on Friday, February 2nd. TheStreet upgraded BrightSphere Investment Group from a “d+” rating to a “c-” rating in a research report on Thursday, January 25th. Finally, Morgan Stanley raised their price target on shares of BrightSphere Investment Group from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, January 19th.

Insider Activity

In other news, CEO Suren Rana sold 109,960 shares of BrightSphere Investment Group stock in a transaction that occurred on 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 sale, 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 filing with the SEC, which can be accessed through this link. Corporate insiders own 24.90% of the company’s stock.

BrightSphere Investment Group Stock Performance

NYSE BSIG opened at $22.61 on Monday. The stock’s fifty day moving average is $22.69 and its two-hundred day moving average is $20.13. The firm has a market capitalization of $863.93 million, a P/E ratio of 14.59 and a beta of 1.49. BrightSphere Investment Group Inc. has a fifty-two week low of $15.23 and a fifty-two week high of $23.63.

BrightSphere Investment Group (NYSE:BSIG) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.19. BrightSphere Investment Group had a net margin of 15.42% and a return on equity of 400.00%. The firm had revenue of $131.20 million for the quarter, compared to analysts’ expectations of $127.57 million. As a group, sell-side analysts forecast that BrightSphere Investment Group Inc. will post 2.18 EPS for the current year.

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.