Amalgamated Bank Sells 869 Shares of BrightSphere Investment Group Inc. (NYSE:BSIG)

Amalgamated Bank cut its position in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 9.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,217 shares of the company’s stock after selling 869 shares during the period. Amalgamated Bank’s holdings in BrightSphere Investment Group were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. bought a new stake in BrightSphere Investment Group during the 1st quarter valued at $853,000. Renaissance Technologies LLC raised its position in shares of BrightSphere Investment Group by 297.9% in the 2nd quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock worth $3,414,000 after acquiring an additional 115,300 shares in the last quarter. Maverick Capital Ltd. bought a new position in shares of BrightSphere Investment Group in the 2nd quarter worth $1,204,000. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of BrightSphere Investment Group by 61.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 77,216 shares of the company’s stock worth $1,756,000 after acquiring an additional 29,302 shares in the last quarter. Finally, Impax Asset Management Group plc raised its position in shares of BrightSphere Investment Group by 4.8% in the 3rd quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock worth $27,910,000 after acquiring an additional 50,000 shares in the last quarter. 98.69% of the stock is owned by institutional investors.

BrightSphere Investment Group Price Performance

Shares of NYSE:BSIG opened at $29.59 on Monday. The business’s 50-day moving average is $26.11 and its 200 day moving average is $24.16. BrightSphere Investment Group Inc. has a 1 year low of $17.05 and a 1 year high of $30.49. The firm has a market capitalization of $1.10 billion, a P/E ratio of 17.93 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. The business had revenue of $123.10 million for the quarter, compared to the consensus estimate of $114.95 million. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. During the same quarter in the previous year, the business earned $0.45 EPS. On average, analysts expect that BrightSphere Investment Group Inc. will post 2.59 EPS for the current year.

BrightSphere Investment Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.01 per share. The ex-dividend date is Friday, December 13th. This represents a $0.04 annualized dividend and a yield of 0.14%. BrightSphere Investment Group’s payout ratio is presently 2.42%.

Analysts Set New Price Targets

Several research analysts have recently commented on BSIG shares. Morgan Stanley lowered BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $23.00 to $26.00 in a research report on Friday, October 18th. StockNews.com raised BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Evercore ISI boosted their price target on BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada boosted their price target on BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $29.00.

BrightSphere Investment Group Company 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.