PDT Partners LLC Raises Holdings in BrightSphere Investment Group Inc. (NYSE:BSIG)

PDT Partners LLC increased its holdings in BrightSphere Investment Group Inc. (NYSE:BSIG) by 13.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,166 shares of the company’s stock after buying an additional 5,418 shares during the period. PDT Partners LLC’s holdings in BrightSphere Investment Group were worth $1,198,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC boosted its holdings in shares of BrightSphere Investment Group by 297.9% in the 2nd quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock valued at $3,414,000 after buying an additional 115,300 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in BrightSphere Investment Group during the second quarter valued at approximately $1,204,000. Impax Asset Management Group plc boosted its stake in BrightSphere Investment Group by 4.8% in the third quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock valued at $27,910,000 after acquiring an additional 50,000 shares in the last quarter. Quest Partners LLC grew its holdings in BrightSphere Investment Group by 329.0% in the third quarter. Quest Partners LLC now owns 28,459 shares of the company’s stock worth $723,000 after purchasing an additional 21,825 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of BrightSphere Investment Group during the second quarter worth $1,870,000. Hedge funds and other institutional investors own 98.69% of the company’s stock.

BrightSphere Investment Group Stock Performance

Shares of BSIG opened at $31.18 on Monday. The stock has a 50-day moving average of $27.36 and a two-hundred day moving average of $24.72. The stock has a market cap of $1.16 billion, a P/E ratio of 18.90 and a beta of 1.41. BrightSphere Investment Group Inc. has a one year low of $17.32 and a one year high of $31.52.

BrightSphere Investment Group (NYSE:BSIG) last issued its earnings results on Thursday, October 31st. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. The firm had revenue of $123.10 million for the quarter, compared to analyst estimates of $114.95 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Analysts predict that BrightSphere Investment Group Inc. will post 2.59 EPS for the current fiscal year.

BrightSphere Investment Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.13%. BrightSphere Investment Group’s payout ratio is currently 2.42%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BSIG shares. Morgan Stanley cut BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $23.00 to $26.00 in a research report on Friday, October 18th. Royal Bank of Canada raised their price target on BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com upgraded shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Evercore ISI lifted their target price on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, BrightSphere Investment Group currently has an average rating of “Hold” and an average target price of $29.00.

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.