Verition Fund Management LLC Acquires 23,748 Shares of BrightSphere Investment Group Inc. (NYSE:BSIG)

Verition Fund Management LLC lifted its holdings in BrightSphere Investment Group Inc. (NYSE:BSIGGet Rating) by 35.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 89,950 shares of the company’s stock after buying an additional 23,748 shares during the period. Verition Fund Management LLC’s holdings in BrightSphere Investment Group were worth $2,181,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Natixis Advisors L.P. raised its stake in BrightSphere Investment Group by 1.2% during the 1st quarter. Natixis Advisors L.P. now owns 63,964 shares of the company’s stock worth $1,551,000 after acquiring an additional 744 shares during the period. Citigroup Inc. raised its stake in BrightSphere Investment Group by 4.1% during the 4th quarter. Citigroup Inc. now owns 44,766 shares of the company’s stock worth $1,146,000 after acquiring an additional 1,781 shares during the period. Teacher Retirement System of Texas raised its stake in 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 worth $295,000 after acquiring an additional 1,886 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in BrightSphere Investment Group by 11.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,194 shares of the company’s stock worth $732,000 after acquiring an additional 3,100 shares during the period. Finally, Hsbc Holdings PLC raised its stake in BrightSphere Investment Group by 51.3% during the 1st quarter. Hsbc Holdings PLC now owns 11,832 shares of the company’s stock worth $289,000 after acquiring an additional 4,012 shares during the period.

BrightSphere Investment Group Price Performance

Shares of BSIG opened at $16.79 on Friday. BrightSphere Investment Group Inc. has a 1 year low of $16.18 and a 1 year high of $31.17. The company has a 50 day simple moving average of $18.36 and a two-hundred day simple moving average of $20.17. The firm has a market cap of $695.61 million, a P/E ratio of 3.74 and a beta of 1.58.

BrightSphere Investment Group (NYSE:BSIGGet Rating) last announced its quarterly earnings data 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. BrightSphere Investment Group had a net margin of 65.73% and a return on equity of 46.17%. The business had revenue of $95.50 million during the quarter, compared to analyst estimates of $96.01 million. During the same period last year, the firm posted $0.40 EPS. On average, sell-side analysts anticipate that BrightSphere Investment Group Inc. will post 1.91 earnings per share for the current year.

BrightSphere Investment Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Thursday, September 15th. BrightSphere Investment Group’s dividend payout ratio (DPR) is presently 0.89%.

Analysts Set New Price Targets

Separately, Morgan Stanley decreased their target price on shares of BrightSphere Investment Group from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, July 29th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $27.33.

BrightSphere Investment Group Profile

(Get Rating)

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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Institutional Ownership by Quarter for BrightSphere Investment Group (NYSE:BSIG)

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