Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Brightsphere Investment Group PLC (NYSE:BSIG) by 150.6% in the third quarter, HoldingsChannel reports. The firm owned 117,680 shares of the company’s stock after acquiring an additional 70,730 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Brightsphere Investment Group were worth $1,459,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Eqis Capital Management Inc. purchased a new position in Brightsphere Investment Group in the 2nd quarter valued at $343,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Brightsphere Investment Group in the 2nd quarter valued at $1,607,000. Jennison Associates LLC lifted its holdings in Brightsphere Investment Group by 21.2% in the 2nd quarter. Jennison Associates LLC now owns 4,158,138 shares of the company’s stock valued at $59,295,000 after purchasing an additional 726,469 shares in the last quarter. Sei Investments Co. lifted its holdings in Brightsphere Investment Group by 11.6% in the 2nd quarter. Sei Investments Co. now owns 137,229 shares of the company’s stock valued at $1,957,000 after purchasing an additional 14,267 shares in the last quarter. Finally, FineMark National Bank & Trust lifted its holdings in Brightsphere Investment Group by 27.9% in the 2nd quarter. FineMark National Bank & Trust now owns 33,242 shares of the company’s stock valued at $474,000 after purchasing an additional 7,254 shares in the last quarter. Institutional investors own 0.03% of the company’s stock.
In other news, major shareholder Hna Eagle Holdco Llc sold 4,598,566 shares of Brightsphere Investment Group stock in a transaction on Monday, November 19th. The stock was sold at an average price of $12.80, for a total transaction of $58,861,644.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.61% of the stock is owned by insiders.
NYSE BSIG opened at $11.77 on Friday. Brightsphere Investment Group PLC has a 52 week low of $11.15 and a 52 week high of $18.62. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.
Brightsphere Investment Group (NYSE:BSIG) last posted its quarterly earnings results on Thursday, November 1st. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. Brightsphere Investment Group had a return on equity of 147.71% and a net margin of 6.71%. The business had revenue of $230.10 million for the quarter, compared to analyst estimates of $227.95 million. During the same quarter in the previous year, the firm earned $0.43 EPS. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, sell-side analysts expect that Brightsphere Investment Group PLC will post 1.87 earnings per share for the current year.
The business also recently declared a dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 13th. Brightsphere Investment Group’s dividend payout ratio is presently 11.11%.
A number of research analysts have weighed in on the company. Citigroup decreased their price objective on Brightsphere Investment Group from $18.50 to $16.50 and set a “buy” rating on the stock in a report on Wednesday, November 21st. Zacks Investment Research upgraded Brightsphere Investment Group from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Friday, November 16th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $18.21.
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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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