Velanne Asset Management Ltd lifted its position in BrightSphere Investment Group Inc. (NYSE:BSIG) by 43.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 841,054 shares of the company’s stock after buying an additional 253,210 shares during the quarter. BrightSphere Investment Group makes up approximately 6.8% of Velanne Asset Management Ltd’s portfolio, making the stock its 4th biggest holding. Velanne Asset Management Ltd owned approximately 1.06% of BrightSphere Investment Group worth $19,706,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in BrightSphere Investment Group by 4.6% in the first quarter. BlackRock Inc. now owns 9,440,765 shares of the company’s stock valued at $192,403,000 after purchasing an additional 416,948 shares in the last quarter. Jennison Associates LLC raised its stake in BrightSphere Investment Group by 2.8% in the first quarter. Jennison Associates LLC now owns 3,896,713 shares of the company’s stock valued at $79,415,000 after purchasing an additional 105,012 shares in the last quarter. Gillson Capital LP grew its position in BrightSphere Investment Group by 44.6% during the first quarter. Gillson Capital LP now owns 1,187,656 shares of the company’s stock valued at $24,204,000 after acquiring an additional 366,192 shares during the last quarter. Geode Capital Management LLC grew its position in BrightSphere Investment Group by 9.8% during the first quarter. Geode Capital Management LLC now owns 969,209 shares of the company’s stock valued at $19,752,000 after acquiring an additional 86,893 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in BrightSphere Investment Group by 0.7% during the first quarter. Principal Financial Group Inc. now owns 546,071 shares of the company’s stock valued at $11,129,000 after acquiring an additional 3,837 shares during the last quarter. 98.70% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on BSIG. Zacks Investment Research cut shares of BrightSphere Investment Group from a “hold” rating to a “sell” rating in a report on Monday, July 12th. TheStreet raised BrightSphere Investment Group from a “c” rating to a “b” rating in a research note on Thursday, July 29th. Morgan Stanley raised their price target on BrightSphere Investment Group from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, July 30th. Finally, Evercore ISI reissued a “hold” rating and set a $26.00 price objective on shares of BrightSphere Investment Group in a research report on Friday, August 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $25.08.
BrightSphere Investment Group (NYSE:BSIG) last posted its quarterly earnings results on Wednesday, July 28th. The company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.06. The company had revenue of $133.30 million for the quarter. BrightSphere Investment Group had a return on equity of 29.50% and a net margin of 127.04%. On average, sell-side analysts expect that BrightSphere Investment Group Inc. will post 1.39 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 24th. Stockholders of record on Friday, September 10th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend is Thursday, September 9th. BrightSphere Investment Group’s dividend payout ratio is currently 2.29%.
BrightSphere Investment Group Profile
BrightSphere Investment Group, Inc is a holding company, which engages in the provision of asset management services. It also focuses on the development of new business opportunities in domestic and international markets. The firm operates through the following segments: Quant & Solutions, Alternatives and Liquid Alpha.
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