Federated Hermes Inc. Sells 7,814 Shares of BrightSphere Investment Group Inc. (NYSE:BSIG)

Federated Hermes Inc. reduced its holdings in BrightSphere Investment Group Inc. (NYSE:BSIG) by 79.4% in the 4th quarter, HoldingsChannel reports. The fund owned 2,032 shares of the company’s stock after selling 7,814 shares during the period. Federated Hermes Inc.’s holdings in BrightSphere Investment Group were worth $39,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. DGS Capital Management LLC raised its position in shares of BrightSphere Investment Group by 49.2% during the fourth quarter. DGS Capital Management LLC now owns 20,035 shares of the company’s stock worth $384,000 after acquiring an additional 6,603 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in BrightSphere Investment Group during the 4th quarter worth approximately $310,000. Impax Asset Management Group plc lifted its position in shares of BrightSphere Investment Group by 10.5% in the 4th quarter. Impax Asset Management Group plc now owns 1,048,818 shares of the company’s stock worth $20,095,000 after purchasing an additional 100,000 shares during the period. Denali Advisors LLC boosted its stake in shares of BrightSphere Investment Group by 47.3% in the 4th quarter. Denali Advisors LLC now owns 78,744 shares of the company’s stock valued at $1,509,000 after purchasing an additional 25,298 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of BrightSphere Investment Group by 6.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 20,134 shares of the company’s stock worth $386,000 after buying an additional 1,249 shares during the period. Institutional investors own 98.69% of the company’s stock.

Insider Buying and Selling

In other BrightSphere Investment Group news, CEO Suren Rana sold 109,960 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $20.74, for a total value of $2,280,570.40. Following the completion of the sale, the chief executive officer now owns 130,967 shares of the company’s stock, valued at $2,716,255.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 24.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price target on shares of BrightSphere Investment Group in a research report on Friday, February 2nd. Morgan Stanley upped their target price on BrightSphere Investment Group from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, January 19th. TheStreet upgraded BrightSphere Investment Group from a “d+” rating to a “c-” rating in a report on Thursday, January 25th. Finally, StockNews.com upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a report on Friday, May 3rd.

BrightSphere Investment Group Trading Down 0.8 %

BSIG opened at $22.39 on Wednesday. The company has a fifty day moving average price of $22.70 and a two-hundred day moving average price of $20.34. BrightSphere Investment Group Inc. has a 1-year low of $15.23 and a 1-year high of $23.63. The company has a market cap of $847.69 million, a P/E ratio of 13.65 and a beta of 1.47.

BrightSphere Investment Group Dividend Announcement

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

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.