Point72 Asset Management L.P. Invests $89,000 in BrightSphere Investment Group Inc. (NYSE:BSIG)

Point72 Asset Management L.P. bought a new stake in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,500 shares of the company’s stock, valued at approximately $89,000.

Several other institutional investors and hedge funds have also bought and sold shares of BSIG. Price T Rowe Associates Inc. MD acquired a new position in BrightSphere Investment Group during the 1st quarter valued at about $214,000. Assenagon Asset Management S.A. increased its stake in BrightSphere Investment Group by 17.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 53,769 shares of the company’s stock valued at $1,192,000 after purchasing an additional 7,810 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of BrightSphere Investment Group by 67.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock worth $195,000 after buying an additional 3,561 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of BrightSphere Investment Group during the second quarter worth $147,000. Finally, American Century Companies Inc. grew its holdings in shares of BrightSphere Investment Group by 5.6% during the second quarter. American Century Companies Inc. now owns 50,729 shares of the company’s stock valued at $1,125,000 after buying an additional 2,693 shares during the last quarter. 98.69% of the stock is owned by hedge funds and other institutional investors.

BrightSphere Investment Group Stock Performance

Shares of NYSE BSIG opened at $30.13 on Friday. The firm has a market cap of $1.12 billion, a PE ratio of 18.26 and a beta of 1.45. BrightSphere Investment Group Inc. has a one year low of $18.09 and a one year high of $31.52. The firm has a fifty day moving average of $28.53 and a 200 day moving average of $25.27.

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

BrightSphere Investment Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, December 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.13%. BrightSphere Investment Group’s dividend payout ratio is presently 2.42%.

Analyst Ratings Changes

A number of brokerages have commented on BSIG. StockNews.com upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Morgan Stanley lowered shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $23.00 to $26.00 in a research report on Friday, October 18th. Royal Bank of Canada downgraded shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $30.00 to $33.00 in a report on Tuesday. BMO Capital Markets restated a “sector perform” rating and set a $33.00 target price (up from $30.00) on shares of BrightSphere Investment Group in a research report on Tuesday. Finally, Evercore ISI increased their price target on BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.75.

BrightSphere Investment Group 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.