Azora Capital LP Has $51.52 Million Stake in BrightSphere Investment Group Inc. (NYSE:BSIG)

Azora Capital LP raised its position in BrightSphere Investment Group Inc. (NYSE:BSIG) by 10.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,028,358 shares of the company’s stock after buying an additional 195,728 shares during the quarter. BrightSphere Investment Group comprises about 2.8% of Azora Capital LP’s portfolio, making the stock its 15th largest holding. Azora Capital LP owned 0.05% of BrightSphere Investment Group worth $51,520,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its holdings in shares of BrightSphere Investment Group by 8.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 29,326 shares of the company’s stock worth $670,000 after buying an additional 2,213 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in BrightSphere Investment Group during the first quarter worth about $214,000. Linden Thomas Advisory Services LLC lifted its holdings in shares of BrightSphere Investment Group by 9.9% in the second quarter. Linden Thomas Advisory Services LLC now owns 20,960 shares of the company’s stock worth $465,000 after acquiring an additional 1,889 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of BrightSphere Investment Group by 17.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 53,769 shares of the company’s stock valued at $1,192,000 after purchasing an additional 7,810 shares during the last quarter. Finally, Gladius Capital Management LP bought a new stake in shares of BrightSphere Investment Group during the second quarter worth $32,000. 98.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BSIG. Morgan Stanley cut BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $23.00 to $26.00 in a report on Friday, October 18th. StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Evercore ISI raised their price target on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada boosted their price objective on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.00.

BrightSphere Investment Group Stock Down 0.1 %

BSIG opened at $31.18 on Monday. BrightSphere Investment Group Inc. has a twelve month low of $17.32 and a twelve month high of $31.52. The company has a fifty day moving average of $27.36 and a 200-day moving average of $24.72. The stock has a market cap of $1.16 billion, a PE ratio of 18.90 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $123.10 million during 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 last year, the business posted $0.45 EPS. Sell-side analysts anticipate that BrightSphere Investment Group Inc. will post 2.59 EPS for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.13%. The ex-dividend date is Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio (DPR) is presently 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.