BrightSphere Investment Group Inc. (NYSE:BSIG) Shares Bought by DGS Capital Management LLC

DGS Capital Management LLC increased its stake in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,153 shares of the company’s stock after buying an additional 646 shares during the quarter. DGS Capital Management LLC’s holdings in BrightSphere Investment Group were worth $639,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Renaissance Technologies LLC lifted its stake in BrightSphere Investment Group by 297.9% in the 2nd 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 in the last quarter. Maverick Capital Ltd. purchased a new stake in shares of BrightSphere Investment Group during the second quarter valued at approximately $1,204,000. Impax Asset Management Group plc lifted its position in shares of BrightSphere Investment Group by 4.8% during the third quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock worth $27,910,000 after purchasing an additional 50,000 shares in the last quarter. Quest Partners LLC boosted its stake in shares of BrightSphere Investment Group by 329.0% in the third quarter. Quest Partners LLC now owns 28,459 shares of the company’s stock valued at $723,000 after purchasing an additional 21,825 shares during the period. Finally, Marshall Wace LLP purchased a new stake in BrightSphere Investment Group during the 2nd quarter worth $1,870,000. 98.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

BrightSphere Investment Group Price Performance

BSIG traded down $0.16 on Friday, hitting $30.12. The company had a trading volume of 9,359 shares, compared to its average volume of 251,823. BrightSphere Investment Group Inc. has a 1-year low of $18.09 and a 1-year high of $31.52. The company’s fifty day moving average price is $28.41 and its 200 day moving average price is $25.22. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 18.36 and a beta of 1.45.

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

BrightSphere Investment Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 dividend yield of 0.13%. BrightSphere Investment Group’s dividend payout ratio is presently 2.42%.

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.