Velanne Asset Management Ltd raised its holdings in shares of Brightsphere Investment Group PLC (NYSE:BSIG) by 4.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 525,322 shares of the company’s stock after purchasing an additional 20,684 shares during the period. Brightsphere Investment Group accounts for about 4.9% of Velanne Asset Management Ltd’s holdings, making the stock its 9th largest holding. Velanne Asset Management Ltd owned about 0.48% of Brightsphere Investment Group worth $7,123,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Man Group plc raised its position in shares of Brightsphere Investment Group by 77.2% in the 3rd quarter. Man Group plc now owns 436,276 shares of the company’s stock worth $5,410,000 after acquiring an additional 190,015 shares in the last quarter. BlackRock Inc. raised its position in shares of Brightsphere Investment Group by 8.1% in the 3rd quarter. BlackRock Inc. now owns 4,896,528 shares of the company’s stock worth $60,715,000 after acquiring an additional 365,382 shares in the last quarter. Vanguard Group Inc raised its position in shares of Brightsphere Investment Group by 0.6% in the 3rd quarter. Vanguard Group Inc now owns 757,407 shares of the company’s stock worth $9,392,000 after acquiring an additional 4,395 shares in the last quarter. Bowling Portfolio Management LLC raised its position in shares of Brightsphere Investment Group by 3.1% in the 4th quarter. Bowling Portfolio Management LLC now owns 61,725 shares of the company’s stock worth $659,000 after acquiring an additional 1,842 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Brightsphere Investment Group by 25.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,246,170 shares of the company’s stock worth $15,452,000 after acquiring an additional 250,400 shares in the last quarter. 0.74% of the stock is owned by institutional investors and hedge funds.
Shares of Brightsphere Investment Group stock traded up $0.10 during midday trading on Wednesday, hitting $14.60. The company had a trading volume of 10,021 shares. Brightsphere Investment Group PLC has a 52-week low of $10.04 and a 52-week high of $16.34.
Brightsphere Investment Group (NYSE:BSIG) last posted its quarterly earnings results on Thursday, February 7th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.05. The company had revenue of $214.50 million for the quarter, compared to the consensus estimate of $212.23 million. Brightsphere Investment Group had a return on equity of 141.96% and a net margin of 14.69%. The business’s revenue was down 13.9% compared to the same quarter last year. On average, analysts expect that Brightsphere Investment Group PLC will post 1.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.40 annualized dividend and a yield of 2.74%.
In other Brightsphere Investment Group news, EVP Aidan J. Riordan sold 3,993 shares of the stock in a transaction on Monday, February 11th. The stock was sold at an average price of $13.36, for a total transaction of $53,346.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Aidan J. Riordan sold 5,237 shares of the stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $13.81, for a total value of $72,322.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,792,535 shares of company stock worth $317,725,199. Company insiders own 0.61% of the company’s stock.
Several research analysts have recently issued reports on BSIG shares. Zacks Investment Research raised Brightsphere Investment Group from a “hold” rating to a “strong-buy” rating and set a $16.00 target price for the company in a research report on Tuesday, March 12th. Royal Bank of Canada set a $16.00 price target on Brightsphere Investment Group and gave the stock a “buy” rating in a research note on Friday, February 8th. Citigroup downgraded Brightsphere Investment Group from a “buy” rating to a “neutral” rating in a research note on Monday, January 14th. Keefe, Bruyette & Woods restated a “mkt perform” rating on shares of Brightsphere Investment Group in a research note on Wednesday, January 9th. Finally, Bank of America downgraded Brightsphere Investment Group from a “buy” rating to an “underperform” rating in a research note on Friday, April 12th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $16.25.
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About Brightsphere Investment Group
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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