Wedge Capital Management L L P NC Sells 1,505 Shares of Brightsphere Investment Group PLC (BSIG)

Wedge Capital Management L L P NC lowered its stake in shares of Brightsphere Investment Group PLC (NYSE:BSIG) by 8.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,306 shares of the company’s stock after selling 1,505 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Brightsphere Investment Group were worth $185,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of BSIG. BlackRock Inc. grew its stake in shares of Brightsphere Investment Group by 8.1% during the third quarter. BlackRock Inc. now owns 4,896,528 shares of the company’s stock worth $60,715,000 after purchasing an additional 365,382 shares in the last quarter. Jennison Associates LLC boosted its stake in Brightsphere Investment Group by 3.7% in the third quarter. Jennison Associates LLC now owns 4,311,344 shares of the company’s stock valued at $53,461,000 after acquiring an additional 153,206 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Brightsphere Investment Group by 5.4% in the third quarter. William Blair Investment Management LLC now owns 3,978,643 shares of the company’s stock valued at $49,335,000 after acquiring an additional 205,471 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Brightsphere Investment Group by 383.2% in the third quarter. Point72 Asset Management L.P. now owns 2,091,824 shares of the company’s stock valued at $25,939,000 after acquiring an additional 1,658,877 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC boosted its stake in Brightsphere Investment Group by 3.3% in the third quarter. Philadelphia Financial Management of San Francisco LLC now owns 1,887,545 shares of the company’s stock valued at $23,406,000 after acquiring an additional 61,118 shares in the last quarter. 0.03% of the stock is currently owned by institutional investors and hedge funds.

BSIG has been the subject of several research analyst reports. Citigroup decreased their price objective on shares of Brightsphere Investment Group from $18.50 to $16.50 and set a “buy” rating for the company in a research note on Wednesday, November 21st. Zacks Investment Research upgraded shares of Brightsphere Investment Group from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Friday, November 16th. Royal Bank of Canada set a $16.00 price objective on shares of Brightsphere Investment Group and gave the company a “buy” rating in a research note on Friday. Morgan Stanley set a $12.00 price objective on shares of Brightsphere Investment Group and gave the company a “hold” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods downgraded shares of Brightsphere Investment Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $15.25 to $13.00 in a research note on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $15.75.

In other news, major shareholder Hna Eagle Holdco Llc sold 4,598,566 shares of the stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $12.80, for a total transaction of $58,861,644.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Shares of BSIG traded up $0.01 during mid-day trading on Monday, hitting $13.37. 108,639 shares of the company’s stock were exchanged. Brightsphere Investment Group PLC has a fifty-two week low of $10.04 and a fifty-two week high of $16.34. 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 announced its earnings results on Thursday, February 7th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.05. Brightsphere Investment Group had a net margin of 14.69% and a return on equity of 141.96%. The business had revenue of $214.50 million during the quarter, compared to the consensus estimate of $212.23 million. The company’s revenue for the quarter was down 13.9% compared to the same quarter last year. Equities research analysts predict that Brightsphere Investment Group PLC will post 1.63 earnings per share for the current fiscal year.

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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.

Read More: Intrinsic Value

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Institutional Ownership by Quarter for Brightsphere Investment Group (NYSE:BSIG)

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