Teachers Retirement System of The State of Kentucky decreased its stake in BrightSphere Investment Group Inc. (NYSE:BSIG – Get Rating) by 38.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,600 shares of the company's stock after selling 6,000 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in BrightSphere Investment Group were worth $233,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BSIG. Point72 Hong Kong Ltd bought a new position in shares of BrightSphere Investment Group during the 4th quarter valued at $168,000. GSA Capital Partners LLP bought a new position in shares of BrightSphere Investment Group during the 4th quarter valued at $226,000. AlphaCrest Capital Management LLC bought a new position in shares of BrightSphere Investment Group during the 1st quarter valued at $240,000. Teacher Retirement System of Texas raised its holdings in shares of BrightSphere Investment Group by 19.5% during the 4th quarter. Teacher Retirement System of Texas now owns 11,542 shares of the company's stock valued at $295,000 after purchasing an additional 1,886 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of BrightSphere Investment Group by 51.3% during the 1st quarter. Hsbc Holdings PLC now owns 11,832 shares of the company's stock valued at $289,000 after purchasing an additional 4,012 shares in the last quarter.
Get BrightSphere Investment Group alerts:BrightSphere Investment Group Trading Down 0.8 %
NYSE:BSIG opened at $15.40 on Wednesday. BrightSphere Investment Group Inc. has a 1 year low of $15.01 and a 1 year high of $31.17. The firm's fifty day simple moving average is $18.17 and its 200 day simple moving average is $19.88. The firm has a market capitalization of $638.08 million, a PE ratio of 3.43 and a beta of 1.58.
BrightSphere Investment Group (NYSE:BSIG – Get Rating) last posted its earnings results on Thursday, July 28th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.05. The business had revenue of $95.50 million for the quarter, compared to analyst estimates of $96.01 million. BrightSphere Investment Group had a net margin of 65.73% and a return on equity of 46.17%. During the same period last year, the business posted $0.40 EPS. As a group, analysts anticipate that BrightSphere Investment Group Inc. will post 1.91 EPS for the current fiscal year.BrightSphere Investment Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a $0.01 dividend. The ex-dividend date is Thursday, September 15th. This represents a $0.04 annualized dividend and a yield of 0.26%. BrightSphere Investment Group's dividend payout ratio is 0.89%.
Analysts Set New Price Targets
Separately, Morgan Stanley cut their price target on shares of BrightSphere Investment Group from $19.00 to $18.00 and set an "equal weight" rating on the stock in a report on Friday, July 29th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $27.33.
BrightSphere Investment Group Profile
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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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