Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Brightsphere Investment Group PLC (NYSE:BSIG) by 150.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,680 shares of the company’s stock after acquiring an additional 70,730 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.11% of Brightsphere Investment Group worth $1,459,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Silchester International Investors LLP lifted its holdings in Brightsphere Investment Group by 41.4% during the 2nd quarter. Silchester International Investors LLP now owns 137,038 shares of the company’s stock worth $1,954,000 after buying an additional 40,094 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in Brightsphere Investment Group by 20.7% during the 3rd quarter. Panagora Asset Management Inc. now owns 798,319 shares of the company’s stock worth $9,899,000 after buying an additional 136,663 shares in the last quarter. Citadel Advisors LLC lifted its holdings in Brightsphere Investment Group by 712.5% during the 2nd quarter. Citadel Advisors LLC now owns 1,125,413 shares of the company’s stock worth $16,048,000 after buying an additional 986,904 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Brightsphere Investment Group by 36.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 404,027 shares of the company’s stock worth $5,761,000 after buying an additional 107,145 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in Brightsphere Investment Group by 42.1% during the 3rd quarter. Sterling Capital Management LLC now owns 244,259 shares of the company’s stock worth $3,029,000 after buying an additional 72,312 shares in the last quarter. 0.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of Brightsphere Investment Group stock opened at $11.77 on Friday. Brightsphere Investment Group PLC has a 52 week low of $11.15 and a 52 week high of $18.62. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.
Brightsphere Investment Group (NYSE:BSIG) last issued its earnings results on Thursday, November 1st. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. The company had revenue of $230.10 million during the quarter, compared to analysts’ expectations of $227.95 million. Brightsphere Investment Group had a net margin of 6.71% and a return on equity of 147.71%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS. Research analysts expect that Brightsphere Investment Group PLC will post 1.87 EPS for the current year.
The firm also recently announced a dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 13th. Brightsphere Investment Group’s payout ratio is 11.11%.
In related news, major shareholder Hna Eagle Holdco Llc sold 4,598,566 shares of the company’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $12.80, for a total value of $58,861,644.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.61% of the company’s stock.
Several brokerages have commented on BSIG. Citigroup dropped their target price on shares of Brightsphere Investment Group from $18.50 to $16.50 and set a “buy” rating for the company in a research report on Wednesday, November 21st. Zacks Investment Research upgraded shares of Brightsphere Investment Group from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Friday, November 16th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Brightsphere Investment Group presently has a consensus rating of “Buy” and a consensus price target of $18.21.
Brightsphere Investment Group Profile
BrightSphere Investment Group plc 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.
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