State Street Corp Reduces Stock Holdings in BrightSphere Investment Group Inc. (NYSE:BSIG)

State Street Corp trimmed its holdings in BrightSphere Investment Group Inc. (NYSE:BSIG - Free Report) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,313,653 shares of the company's stock after selling 19,157 shares during the quarter. State Street Corp owned about 3.52% of BrightSphere Investment Group worth $33,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of BrightSphere Investment Group by 2,397.6% in the third quarter. Blue Trust Inc. now owns 3,122 shares of the company's stock worth $79,000 after buying an additional 2,997 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in BrightSphere Investment Group during the third quarter worth $89,000. Quest Partners LLC bought a new position in shares of BrightSphere Investment Group during the second quarter valued at approximately $147,000. Verition Fund Management LLC bought a new stake in BrightSphere Investment Group during the 3rd quarter valued at about $213,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of BrightSphere Investment Group by 67.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company's stock valued at $195,000 after acquiring an additional 3,561 shares in the last quarter. Hedge funds and other institutional investors own 98.69% of the company's stock.

BrightSphere Investment Group Stock Down 3.6 %

BSIG opened at $27.01 on Friday. The firm has a market cap of $1.01 billion, a P/E ratio of 16.37 and a beta of 1.45. The business has a fifty day simple moving average of $28.97 and a 200-day simple moving average of $25.48. BrightSphere Investment Group Inc. has a 52 week low of $18.09 and a 52 week high of $31.52.

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

BrightSphere Investment Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.01 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. BrightSphere Investment Group's dividend payout ratio (DPR) is presently 2.42%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BSIG shares. StockNews.com upgraded BrightSphere Investment Group from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. Morgan Stanley lowered their price objective on BrightSphere Investment Group from $26.00 to $25.00 and set an "underweight" rating on the stock in a research report on Friday. Royal Bank of Canada cut shares of BrightSphere Investment Group from an "outperform" rating to a "sector perform" rating and boosted their target price for the stock from $30.00 to $33.00 in a research note on Tuesday, December 10th. Evercore ISI boosted their price target on shares of 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, BMO Capital Markets reiterated a "sector perform" rating and issued a $33.00 price objective (up previously from $30.00) on shares of BrightSphere Investment Group in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $30.50.

Get Our Latest Research Report on BSIG

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.

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