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

Point72 Asset Management L.P. purchased a new stake in BrightSphere Investment Group Inc. (NYSE:BSIG) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,500 shares of the company’s stock, valued at approximately $89,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Azora Capital LP lifted its position in shares of BrightSphere Investment Group by 10.7% during the third quarter. Azora Capital LP now owns 2,028,358 shares of the company’s stock worth $51,520,000 after purchasing an additional 195,728 shares in the last quarter. Jennison Associates LLC lifted its position in shares of BrightSphere Investment Group by 25.3% during the 3rd quarter. Jennison Associates LLC now owns 968,936 shares of the company’s stock worth $24,611,000 after purchasing an additional 195,417 shares during the last quarter. Renaissance Technologies LLC increased its holdings in BrightSphere Investment Group by 297.9% in the second quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock valued at $3,414,000 after buying an additional 115,300 shares during the last quarter. Marshall Wace LLP acquired a new stake in BrightSphere Investment Group in the second quarter valued at $1,870,000. Finally, Maverick Capital Ltd. purchased a new stake in BrightSphere Investment Group during the 2nd quarter worth about $1,204,000. 98.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BSIG shares. Royal Bank of Canada cut BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $30.00 to $33.00 in a research note on Tuesday. Evercore ISI upped their target price on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Morgan Stanley cut shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $23.00 to $26.00 in a research report on Friday, October 18th. BMO Capital Markets reiterated a “sector perform” rating and set a $33.00 target price (up previously from $30.00) on shares of BrightSphere Investment Group in a research report on Tuesday. Finally, StockNews.com raised BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.75.

BrightSphere Investment Group Stock Down 0.5 %

NYSE BSIG opened at $30.13 on Friday. BrightSphere Investment Group Inc. has a 52-week low of $18.09 and a 52-week high of $31.52. The firm has a 50-day moving average price of $28.53 and a 200 day moving average price of $25.27. The stock has a market capitalization of $1.12 billion, a P/E ratio of 18.26 and a beta of 1.45.

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, beating analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $123.10 million for the quarter, compared to the consensus estimate of $114.95 million. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. During the same period in the previous year, the business earned $0.45 earnings per share. On average, equities research analysts expect that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current fiscal year.

BrightSphere Investment Group Announces Dividend

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

About BrightSphere Investment Group

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.