Citadel Advisors LLC grew its holdings in shares of Brightsphere Investment Group PLC (NYSE:BSIG) by 57.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,549,660 shares of the company’s stock after purchasing an additional 566,370 shares during the period. Citadel Advisors LLC owned about 1.69% of Brightsphere Investment Group worth $17,681,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in BSIG. Dimensional Fund Advisors LP grew its position in shares of Brightsphere Investment Group by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,939,701 shares of the company’s stock worth $20,716,000 after purchasing an additional 118,443 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Brightsphere Investment Group during the 1st quarter worth approximately $122,000. California Public Employees Retirement System grew its position in shares of Brightsphere Investment Group by 19.3% during the 1st quarter. California Public Employees Retirement System now owns 166,685 shares of the company’s stock worth $2,260,000 after purchasing an additional 26,971 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Brightsphere Investment Group by 67.3% during the 1st quarter. JPMorgan Chase & Co. now owns 949,389 shares of the company’s stock worth $12,873,000 after purchasing an additional 381,972 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Brightsphere Investment Group by 50.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,286 shares of the company’s stock worth $2,336,000 after purchasing an additional 57,531 shares in the last quarter. Hedge funds and other institutional investors own 1.16% of the company’s stock.
A number of research analysts have issued reports on BSIG shares. Credit Suisse Group restated a “buy” rating and set a $16.00 target price on shares of Brightsphere Investment Group in a research report on Wednesday, September 11th. Zacks Investment Research raised shares of Brightsphere Investment Group from a “sell” rating to a “hold” rating in a report on Monday, September 16th. Morgan Stanley cut their price target on shares of Brightsphere Investment Group from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Finally, Citigroup cut their price target on shares of Brightsphere Investment Group from $15.00 to $12.50 and set a “neutral” rating for the company in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $14.25.
Brightsphere Investment Group (NYSE:BSIG) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.45 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.45. The company had revenue of $207.10 million during the quarter, compared to the consensus estimate of $211.13 million. Brightsphere Investment Group had a net margin of 18.36% and a return on equity of 214.61%. The firm’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 EPS. On average, equities research analysts expect that Brightsphere Investment Group PLC will post 1.8 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.91%. The ex-dividend date is Thursday, September 12th. Brightsphere Investment Group’s payout ratio is 21.51%.
In related news, insider Guang Yang acquired 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average price of $9.10 per share, with a total value of $455,000.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 24.10% of the stock is owned by corporate insiders.
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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