Prudential Financial Inc. grew its holdings in Brightsphere Investment Group PLC (NYSE:BSIG) by 12.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 499,394 shares of the company’s stock after acquiring an additional 56,370 shares during the quarter. Prudential Financial Inc. owned 0.54% of Brightsphere Investment Group worth $5,698,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in Brightsphere Investment Group in the second quarter worth about $34,000. Quantamental Technologies LLC acquired a new stake in Brightsphere Investment Group in the first quarter worth about $46,000. Nisa Investment Advisors LLC acquired a new stake in Brightsphere Investment Group in the second quarter worth about $57,000. Aperio Group LLC acquired a new stake in Brightsphere Investment Group in the second quarter worth about $108,000. Finally, SG Americas Securities LLC purchased a new position in shares of Brightsphere Investment Group in the first quarter worth about $122,000. 1.16% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:BSIG traded up $0.05 during trading on Thursday, hitting $10.28. The stock had a trading volume of 15,118 shares, compared to its average volume of 566,699. Brightsphere Investment Group PLC has a 12-month low of $8.40 and a 12-month high of $14.87. The stock has a market capitalization of $920.91 million, a price-to-earnings ratio of 5.49, a price-to-earnings-growth ratio of 1.24 and a beta of 1.83. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 3.62. The stock has a 50-day simple moving average of $9.47 and a two-hundred day simple moving average of $11.90.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.89%. The ex-dividend date is Thursday, September 12th.
BSIG has been the subject of several research analyst reports. Morgan Stanley reduced their price objective on Brightsphere Investment Group from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Credit Suisse Group restated a “buy” rating and issued a $16.00 price objective on shares of Brightsphere Investment Group in a research note on Wednesday. Citigroup reduced their price objective on Brightsphere Investment Group from $15.00 to $12.50 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Finally, Zacks Investment Research cut Brightsphere Investment Group from a “hold” rating to a “sell” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $14.25.
In related news, insider Guang Yang purchased 50,000 shares of Brightsphere Investment Group stock in a transaction that occurred on Tuesday, August 6th. The stock was bought at an average cost of $9.10 per share, for a total transaction of $455,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 24.10% of the company’s stock.
Brightsphere Investment Group Company 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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