BrightSphere Investment Group Inc. (NYSE:BSIG) Stake Raised by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its holdings in BrightSphere Investment Group Inc. (NYSE:BSIG) by 18.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 141,305 shares of the company’s stock after acquiring an additional 22,164 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.34% of BrightSphere Investment Group worth $2,707,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in BSIG. North Reef Capital Management LP lifted its stake in BrightSphere Investment Group by 1.9% during the third quarter. North Reef Capital Management LP now owns 1,700,000 shares of the company’s stock valued at $32,963,000 after purchasing an additional 31,717 shares during the last quarter. Impax Asset Management Group plc lifted its position in shares of BrightSphere Investment Group by 10.5% during the 4th quarter. Impax Asset Management Group plc now owns 1,048,818 shares of the company’s stock valued at $20,095,000 after acquiring an additional 100,000 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of BrightSphere Investment Group by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 673,013 shares of the company’s stock valued at $13,050,000 after acquiring an additional 33,359 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of BrightSphere Investment Group by 23.0% during the 4th quarter. Jennison Associates LLC now owns 587,073 shares of the company’s stock worth $11,248,000 after acquiring an additional 109,648 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of BrightSphere Investment Group by 7.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 360,441 shares of the company’s stock worth $6,989,000 after acquiring an additional 24,599 shares during the last quarter. Institutional investors own 98.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BSIG. Royal Bank of Canada reiterated an “outperform” rating and issued a $24.00 price target on shares of BrightSphere Investment Group in a research report on Friday, February 2nd. TheStreet upgraded shares of BrightSphere Investment Group from a “d+” rating to a “c-” rating in a report on Thursday, January 25th. Finally, Morgan Stanley upped their price target on shares of BrightSphere Investment Group from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, January 19th.

BrightSphere Investment Group Trading Down 1.4 %

Shares of BrightSphere Investment Group stock opened at $22.25 on Wednesday. BrightSphere Investment Group Inc. has a 1 year low of $15.23 and a 1 year high of $23.63. The company has a market cap of $842.39 million, a P/E ratio of 14.35 and a beta of 1.49. The stock has a 50-day moving average price of $22.70 and a 200 day moving average price of $20.20.

BrightSphere Investment Group (NYSE:BSIG) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.19. The business had revenue of $131.20 million during the quarter, compared to analyst estimates of $127.57 million. BrightSphere Investment Group had a net margin of 15.42% and a return on equity of 400.00%. On average, equities analysts forecast that BrightSphere Investment Group Inc. will post 2.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Suren Rana sold 109,960 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $20.74, for a total transaction of $2,280,570.40. Following the transaction, the chief executive officer now directly owns 130,967 shares in the company, valued at approximately $2,716,255.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 24.90% of the company’s stock.

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.