Y Intercept Hong Kong Ltd Invests $458,000 in BrightSphere Investment Group Inc. (NYSE:BSIG)

Y Intercept Hong Kong Ltd acquired a new stake in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 18,014 shares of the company’s stock, valued at approximately $458,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Azora Capital LP boosted its position in shares of BrightSphere Investment Group by 10.7% during the 3rd quarter. Azora Capital LP now owns 2,028,358 shares of the company’s stock valued at $51,520,000 after acquiring an additional 195,728 shares during the last quarter. Jennison Associates LLC raised its stake in BrightSphere Investment Group by 25.3% in the third quarter. Jennison Associates LLC now owns 968,936 shares of the company’s stock valued at $24,611,000 after purchasing an additional 195,417 shares in the last quarter. Renaissance Technologies LLC lifted its position in BrightSphere Investment Group by 297.9% during the second quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock valued at $3,414,000 after purchasing an additional 115,300 shares during the last quarter. Marshall Wace LLP purchased a new position in BrightSphere Investment Group in the 2nd quarter worth approximately $1,870,000. Finally, Maverick Capital Ltd. bought a new position in shares of BrightSphere Investment Group in the 2nd quarter worth $1,204,000. 98.69% of the stock is currently owned by hedge funds and other institutional investors.

BrightSphere Investment Group Stock Down 0.6 %

NYSE BSIG opened at $30.12 on Monday. The company has a 50-day simple moving average of $28.53 and a two-hundred day simple moving average of $25.30. BrightSphere Investment Group Inc. has a 12-month low of $18.09 and a 12-month high of $31.52. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 18.25 and a beta of 1.45.

BrightSphere Investment Group (NYSE:BSIG) last released its earnings results on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $114.95 million. During the same quarter in the previous year, the company posted $0.45 EPS. Equities analysts expect that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio is 2.42%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BSIG. Royal Bank of Canada downgraded shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $30.00 to $33.00 in a report on Tuesday, December 10th. Evercore ISI lifted their price target on BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Morgan Stanley cut BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $23.00 to $26.00 in a report on Friday, October 18th. BMO Capital Markets reissued a “sector perform” rating and set a $33.00 price objective (up from $30.00) on shares of BrightSphere Investment Group in a report on Tuesday, December 10th. Finally, StockNews.com upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, BrightSphere Investment Group presently has an average rating of “Hold” and a consensus 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.