Bank of New York Mellon Corp lifted its position in shares of Brightsphere Investment Group PLC (NYSE:BSIG) by 34.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,154,286 shares of the company’s stock after acquiring an additional 296,644 shares during the quarter. Bank of New York Mellon Corp owned 1.43% of Brightsphere Investment Group worth $14,383,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in Brightsphere Investment Group by 7.5% in the 1st quarter. BlackRock Inc. now owns 5,339,181 shares of the company’s stock valued at $34,119,000 after buying an additional 370,487 shares in the last quarter. Geode Capital Management LLC lifted its stake in Brightsphere Investment Group by 9.3% in the 1st quarter. Geode Capital Management LLC now owns 928,388 shares of the company’s stock valued at $5,932,000 after buying an additional 79,276 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Brightsphere Investment Group by 147.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 913,066 shares of the company’s stock valued at $11,377,000 after buying an additional 543,966 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Brightsphere Investment Group by 340.9% during the 1st quarter. Russell Investments Group Ltd. now owns 829,609 shares of the company’s stock worth $5,298,000 after purchasing an additional 641,441 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in shares of Brightsphere Investment Group by 0.3% during the 1st quarter. Two Sigma Advisers LP now owns 614,500 shares of the company’s stock worth $3,927,000 after purchasing an additional 1,900 shares during the period. 99.19% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE BSIG opened at $13.20 on Wednesday. Brightsphere Investment Group PLC has a 12-month low of $3.61 and a 12-month high of $14.61. The company has a market cap of $1.07 billion, a P/E ratio of 5.89, a P/E/G ratio of 2.68 and a beta of 1.66. The company has a current ratio of 0.37, a quick ratio of 0.72 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average price of $13.56 and a 200 day moving average price of $9.82.
Brightsphere Investment Group (NYSE:BSIG) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.05. Brightsphere Investment Group had a return on equity of 110.07% and a net margin of 25.53%. The firm had revenue of $174.70 million during the quarter. On average, sell-side analysts forecast that Brightsphere Investment Group PLC will post 1.62 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.30%. Brightsphere Investment Group’s payout ratio is currently 2.26%.
BSIG has been the topic of a number of recent analyst reports. Zacks Investment Research raised Brightsphere Investment Group from a “strong sell” rating to a “strong-buy” rating and set a $11.00 price target on the stock in a research note on Tuesday, June 9th. BofA Securities raised Brightsphere Investment Group from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $12.00 to $16.00 in a research note on Wednesday, July 29th. Morgan Stanley increased their price target on Brightsphere Investment Group from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 28th. Credit Suisse Group upped their price objective on Brightsphere Investment Group from $16.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Finally, Keefe, Bruyette & Woods upgraded Brightsphere Investment Group from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $14.00 to $18.50 in a report on Tuesday, July 28th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Brightsphere Investment Group currently has an average rating of “Buy” and an average price target of $14.61.
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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