Insider Selling: Brightsphere Investment Group PLC (BSIG) Major Shareholder Sells $58,861,644.80 in Stock

Brightsphere Investment Group PLC (NYSE:BSIG) major shareholder Hna Eagle Holdco Llc sold 4,598,566 shares of the firm’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $12.80, for a total value of $58,861,644.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

BSIG opened at $12.96 on Monday. Brightsphere Investment Group PLC has a 12 month low of $11.15 and a 12 month high of $18.62. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Brightsphere Investment Group (NYSE:BSIG) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The company had revenue of $230.10 million during the quarter, compared to analyst estimates of $227.95 million. Brightsphere Investment Group had a return on equity of 147.71% and a net margin of 6.71%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $0.43 earnings per share. On average, equities research analysts anticipate that Brightsphere Investment Group PLC will post 1.87 EPS for the current year.

BSIG has been the subject of a number of research analyst reports. Citigroup cut their price objective on Brightsphere Investment Group from $18.50 to $16.50 and set a “buy” rating for the company in a research report on Wednesday, November 21st. Zacks Investment Research upgraded Brightsphere Investment Group from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Friday, November 16th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $18.21.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Howe & Rusling Inc. purchased a new position in Brightsphere Investment Group in the second quarter worth about $102,000. Point72 Hong Kong Ltd grew its position in Brightsphere Investment Group by 10,714.7% in the second quarter. Point72 Hong Kong Ltd now owns 7,354 shares of the company’s stock worth $105,000 after acquiring an additional 7,286 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Brightsphere Investment Group in the third quarter worth about $112,000. Jane Street Group LLC purchased a new position in Brightsphere Investment Group in the second quarter worth about $211,000. Finally, SG Americas Securities LLC grew its position in Brightsphere Investment Group by 131.1% in the second quarter. SG Americas Securities LLC now owns 15,694 shares of the company’s stock worth $224,000 after acquiring an additional 8,903 shares in the last quarter. Institutional investors own 1.34% of the company’s stock.

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About Brightsphere Investment Group

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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Insider Buying and Selling by Quarter for Brightsphere Investment Group (NYSE:BSIG)

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