Arizona State Retirement System reduced its stake in BrightSphere Investment Group Inc. (NYSE: BSIG – Get Rating) by 39.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund held 9,710 shares of the company after selling 6,316 shares during the quarter. Arizona State Retirement System’s holdings in BrightSphere Investment Group were worth $235,000 at the end of last quarter.
Other institutional investors have also recently changed their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in BrightSphere Investment Group in the fourth quarter worth $975,000. Yousif Capital Management LLC acquired a new position in BrightSphere Investment Group in the fourth quarter worth $944,000. Qube Research & Technologies Ltd increased its stake in BrightSphere Investment Group by 1,007.6% in the fourth quarter. Qube Research & Technologies Ltd now owns 125,416 shares of the company valued at $3,211,000 after buying an additional 114,093 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in BrightSphere Investment Group by 33.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,544 shares of the company valued at $219,000 after buying 2,163 additional shares in the last quarter. Finally, American Century Companies Inc. increased its stake in BrightSphere Investment Group by 23.4% in the fourth quarter. American Century Companies Inc. now owns 107,321 shares of the company valued at $2,747,000 after purchasing an additional 20,373 shares in the last quarter. 98.74% of the shares are held by institutional investors and hedge funds.
BrightSphere Investment Group trades down 0.6%
BSIG stock opened at $18.73 on Friday. The stock has a 50-day moving average price of $18.90 and a 200-day moving average price of $21.55. BrightSphere Investment Group Inc. has a 12-month low of $16.62 and a 12-month high of $31.17. The company has a market capitalization of $775.89 million, a PE ratio of 4.17 and a beta of 1.56.
BrightSphere Investment Group (NYSE:BSIG – Get Rating) last released its quarterly results on Thursday, July 28. The company reported earnings per share (EPS) of $0.41 for the quarter, missing analyst consensus estimates of $0.46 per ($0.05). BrightSphere Investment Group achieved a net margin of 65.73% and a return on equity of 46.17%. During the same period of the previous year, the company posted EPS of $0.40. Equity analysts expect BrightSphere Investment Group Inc. to post EPS of 1.91 for the current fiscal year.
BrightSphere Investment Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30. Shareholders of record on Friday, September 16 will receive a dividend of $0.01. This represents an annualized dividend of $0.04 and a dividend yield of 0.21%. The ex-dividend date is Thursday, September 15. BrightSphere Investment Group’s payout ratio is 0.89%.
Analysts set new price targets
Separately, Morgan Stanley lowered its price target on BrightSphere Investment Group from $19.00 to $18.00 and set an “equal weight” rating for the company in a Friday, July 29 research note. Four equity research analysts gave the stock a hold rating and one gave the company a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $27.00.
BrightSphere Investment Group Profile
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BrightSphere Investment Group Inc is a public asset management holding company. The firm offers its services to individuals and institutions. It manages separate client-focused portfolios through its subsidiaries. The company also launches equity mutual funds for its clients. It invests in public equities, fixed income securities and alternative investment markets through its subsidiaries.
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