Jennison Associates LLC Purchases 195,417 Shares of BrightSphere Investment Group Inc. (NYSE:BSIG)

Jennison Associates LLC increased its holdings in BrightSphere Investment Group Inc. (NYSE:BSIG) by 25.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 968,936 shares of the company’s stock after purchasing an additional 195,417 shares during the quarter. Jennison Associates LLC’s holdings in BrightSphere Investment Group were worth $24,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Gladius Capital Management LP bought a new position in BrightSphere Investment Group in the 2nd quarter worth $32,000. Blue Trust Inc. lifted its holdings in BrightSphere Investment Group by 2,397.6% in the third quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock worth $79,000 after buying an additional 2,997 shares during the period. Quest Partners LLC purchased a new stake in BrightSphere Investment Group in the second quarter worth about $147,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in BrightSphere Investment Group by 67.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock valued at $195,000 after acquiring an additional 3,561 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of BrightSphere Investment Group in the 1st quarter worth approximately $214,000. Hedge funds and other institutional investors own 98.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BSIG shares. Evercore ISI lifted their price target on BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Royal Bank of Canada upped their target price on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Morgan Stanley lowered shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their price objective for the stock from $23.00 to $26.00 in a research note on Friday, October 18th. Finally, StockNews.com upgraded shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, BrightSphere Investment Group presently has an average rating of “Hold” and an average target price of $29.00.

BrightSphere Investment Group Trading Up 1.6 %

NYSE BSIG opened at $31.02 on Friday. BrightSphere Investment Group Inc. has a 12 month low of $17.32 and a 12 month high of $31.10. The stock’s fifty day moving average price is $26.77 and its 200-day moving average price is $24.41. The stock has a market cap of $1.16 billion, a P/E ratio of 18.80 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $123.10 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $0.45 EPS. As a group, analysts forecast 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 declared 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. This represents a $0.04 annualized dividend and a dividend yield of 0.13%. The ex-dividend date is Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio (DPR) is currently 2.42%.

BrightSphere Investment Group 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.