Schonfeld Strategic Advisors LLC boosted its holdings in shares of Brightsphere Investment Group PLC (NYSE:BSIG) by 125.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 937,034 shares of the company’s stock after purchasing an additional 521,262 shares during the quarter. Schonfeld Strategic Advisors LLC owned about 1.17% of Brightsphere Investment Group worth $11,676,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of BSIG. Goldman Sachs Group Inc. raised its stake in Brightsphere Investment Group by 578.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,083,862 shares of the company’s stock valued at $25,965,000 after purchasing an additional 1,776,606 shares during the period. Russell Investments Group Ltd. grew its holdings in Brightsphere Investment Group by 340.9% during the 1st quarter. Russell Investments Group Ltd. now owns 829,609 shares of the company’s stock valued at $5,298,000 after buying an additional 641,441 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Brightsphere Investment Group by 147.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 913,066 shares of the company’s stock valued at $11,377,000 after buying an additional 543,966 shares in the last quarter. Azora Capital LP purchased a new position in Brightsphere Investment Group during the 2nd quarter valued at approximately $6,569,000. Finally, Balyasny Asset Management LLC purchased a new position in Brightsphere Investment Group during the 2nd quarter valued at approximately $6,475,000. 99.19% of the stock is currently owned by institutional investors.
Several equities analysts have weighed in on the company. Morgan Stanley raised their price target on Brightsphere Investment Group from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Tuesday, July 28th. Credit Suisse Group lifted their target price on Brightsphere Investment Group from $16.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Keefe, Bruyette & Woods upgraded Brightsphere Investment Group from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $14.00 to $18.50 in a report on Tuesday, July 28th. Zacks Investment Research upgraded Brightsphere Investment Group from a “strong sell” rating to a “strong-buy” rating and set a $11.00 target price for the company in a report on Tuesday, June 9th. Finally, Bank of America upgraded Brightsphere Investment Group from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $12.00 to $16.00 in a report on Wednesday, July 29th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $14.61.
Brightsphere Investment Group (NYSE:BSIG) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.05. Brightsphere Investment Group had a return on equity of 110.07% and a net margin of 25.53%. The company had revenue of $174.70 million during the quarter. Equities analysts predict that Brightsphere Investment Group PLC will post 1.62 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Thursday, September 10th. Brightsphere Investment Group’s dividend payout ratio (DPR) is presently 2.26%.
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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