Jennison Associates LLC Boosts Stock Holdings in BrightSphere Investment Group Inc. (NYSE:BSIG)

Jennison Associates LLC lifted its holdings in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 23.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 587,073 shares of the company’s stock after buying an additional 109,648 shares during the quarter. Jennison Associates LLC owned about 1.41% of BrightSphere Investment Group worth $11,248,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. DGS Capital Management LLC lifted its holdings in BrightSphere Investment Group by 49.2% during the 4th quarter. DGS Capital Management LLC now owns 20,035 shares of the company’s stock worth $384,000 after purchasing an additional 6,603 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of BrightSphere Investment Group in the fourth quarter worth about $310,000. Impax Asset Management Group plc boosted its position in shares of BrightSphere Investment Group by 10.5% in the fourth quarter. Impax Asset Management Group plc now owns 1,048,818 shares of the company’s stock valued at $20,095,000 after acquiring an additional 100,000 shares during the period. Denali Advisors LLC increased its holdings in BrightSphere Investment Group by 47.3% during the 4th quarter. Denali Advisors LLC now owns 78,744 shares of the company’s stock worth $1,509,000 after acquiring an additional 25,298 shares during the period. Finally, Exchange Traded Concepts LLC lifted its stake in BrightSphere Investment Group by 6.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 20,134 shares of the company’s stock worth $386,000 after purchasing an additional 1,249 shares in the last quarter. 98.69% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Suren Rana sold 109,960 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $20.74, for a total value of $2,280,570.40. Following the sale, the chief executive officer now directly owns 130,967 shares of the company’s stock, valued at approximately $2,716,255.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 24.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BSIG shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $24.00 price objective on shares of BrightSphere Investment Group in a research report on Friday, February 2nd. Morgan Stanley raised their price target on BrightSphere Investment Group from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, January 19th. Finally, TheStreet upgraded BrightSphere Investment Group from a “d+” rating to a “c-” rating in a report on Thursday, January 25th.

BrightSphere Investment Group Trading Down 0.5 %

NYSE BSIG opened at $22.96 on Friday. The firm has a market cap of $877.30 million, a PE ratio of 14.81 and a beta of 1.49. BrightSphere Investment Group Inc. has a 1-year low of $15.23 and a 1-year high of $23.63. The stock has a 50-day moving average of $22.67 and a 200-day moving average of $20.07.

BrightSphere Investment Group (NYSE:BSIG) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.19. BrightSphere Investment Group had a net margin of 15.42% and a return on equity of 400.00%. The firm had revenue of $131.20 million for the quarter, compared to analysts’ expectations of $127.57 million. As a group, equities research analysts forecast that BrightSphere Investment Group Inc. will post 2.18 earnings per share for the current fiscal year.

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.