Optimist Retirement Group LLC Makes New $238,000 Investment in BrightSphere Investment Group Inc. (NYSE:BSIG)

Optimist Retirement Group LLC bought a new position in BrightSphere Investment Group Inc. (NYSE:BSIG) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,367 shares of the company’s stock, valued at approximately $238,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Gladius Capital Management LP bought a new stake in shares of BrightSphere Investment Group in the 2nd quarter worth $32,000. Blue Trust Inc. grew its holdings in shares of BrightSphere Investment Group by 2,397.6% in the third quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock worth $79,000 after acquiring an additional 2,997 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of BrightSphere Investment Group in the third quarter worth $89,000. Quest Partners LLC bought a new stake in shares of BrightSphere Investment Group in the second quarter worth $147,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of BrightSphere Investment Group by 67.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock worth $195,000 after acquiring an additional 3,561 shares during the period. Institutional investors own 98.69% of the company’s stock.

BrightSphere Investment Group Stock Down 0.8 %

NYSE BSIG traded down $0.24 during trading hours on Thursday, hitting $30.55. 9,367 shares of the company were exchanged, compared to its average volume of 252,271. The stock has a 50-day moving average price of $28.26 and a 200 day moving average price of $25.18. BrightSphere Investment Group Inc. has a 52 week low of $18.09 and a 52 week high of $31.52. The stock has a market cap of $1.14 billion, a PE ratio of 18.66 and a beta of 1.45.

BrightSphere Investment Group (NYSE:BSIG) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. The company had revenue of $123.10 million for the quarter, compared to analysts’ expectations of $114.95 million. During the same period in the previous year, the firm posted $0.45 earnings per share. As a group, sell-side analysts anticipate that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current year.

BrightSphere Investment Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.01 per share. The ex-dividend date 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%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Evercore ISI boosted their price target on BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. StockNews.com upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. BMO Capital Markets reiterated a “sector perform” rating and issued a $33.00 target price (up from $30.00) on shares of BrightSphere Investment Group in a research report on Tuesday. Morgan Stanley downgraded BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $23.00 to $26.00 in a research report on Friday, October 18th. Finally, Royal Bank of Canada downgraded 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 report on Tuesday. One 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.75.

BrightSphere Investment Group Company Profile

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.