FMR LLC reduced its position in Brightsphere Investment Group PLC (NYSE:BSIG) by 1.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,822,538 shares of the company’s stock after selling 172,844 shares during the period. FMR LLC owned approximately 9.83% of Brightsphere Investment Group worth $154,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Brightsphere Investment Group during the first quarter valued at about $107,000. Howe & Rusling Inc. bought a new stake in Brightsphere Investment Group during the second quarter valued at about $102,000. Koch Industries Inc. bought a new stake in shares of Brightsphere Investment Group in the first quarter worth about $182,000. Quantbot Technologies LP bought a new stake in shares of Brightsphere Investment Group in the first quarter worth about $191,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Brightsphere Investment Group in the first quarter worth about $287,000. Hedge funds and other institutional investors own 1.34% of the company’s stock.
BSIG has been the topic of several research reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $19.00 target price on shares of Brightsphere Investment Group in a report on Friday, July 13th. Morgan Stanley reduced their target price on Brightsphere Investment Group from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, July 12th. Finally, Zacks Investment Research raised Brightsphere Investment Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 11th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $19.29.
Shares of NYSE:BSIG traded up $0.35 during trading hours on Friday, hitting $12.50. 2,543,076 shares of the company’s stock traded hands, compared to its average volume of 628,159. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.02 and a current ratio of 1.02. Brightsphere Investment Group PLC has a 1 year low of $11.89 and a 1 year high of $18.62.
Brightsphere Investment Group (NYSE:BSIG) last announced its quarterly earnings results on Thursday, August 2nd. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $233.90 million during the quarter, compared to analyst estimates of $236.00 million. Brightsphere Investment Group had a return on equity of 138.53% and a net margin of 3.06%. Brightsphere Investment Group’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 earnings per share. As a group, equities research analysts predict that Brightsphere Investment Group PLC will post 1.86 EPS for the current fiscal year.
The firm also recently disclosed a dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 13th. Brightsphere Investment Group’s dividend payout ratio (DPR) is 11.11%.
Brightsphere Investment Group Profile
BrightSphere Investment Group plc 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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