Truist Financial Corp Reduces Holdings in BrightSphere Investment Group Inc. (NYSE:BSIG)


Truist Financial Corp cut its stake in BrightSphere Investment Group Inc. (NYSE:BSIG – Get Rating) by 78.0% in the third quarter, according to its latest filings with the U.S. Securities and Exchange Commission (SEC). The fund owned 35,478 shares of the company’s stock after selling 125,873 shares during the period. Truist Financial Corp owned his 0.09% stake in BrightSphere Investment Group worth $529,000 at the end of the most recent reporting period.

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Many other institutional investors have also recently changed positions in the company. William Blair Investment Management LLC purchased additional shares of Brightsphere Investment Group for $24,622,000 in the second quarter. ExodusPoint Capital Management LP increased his BrightSphere Investment Group holding by 3.4% in the second quarter. ExodusPoint Capital Management LP now owns 505,455 shares of the company worth $9,103,000 after he purchased an additional 16,629 shares last quarter. Goldman Sachs Group Inc. increased its Brightsphere Investment Group holding by 1.7% in the first quarter. Goldman Sachs Group Inc. now owns 460,645 shares of the company worth $11,170,000 after purchasing an additional 7,867 of his shares last quarter. Maltese Capital Management LLC increased its stake in BrightSphere Investment Group by 211.1% in the second quarter. Maltese Capital Management LLC now owns 420,000 shares worth $7,565,000 after purchasing an additional 285,000 shares last quarter. Finally, the Canada Pension Plan Investment Board purchased new shares in Brightsphere Investment Group worth approximately $9,312,000 in the first quarter.

Brightsphere Investment Group shares up 1.1%

NYSE BSIG shares opened at $23.09 on Tuesday. The company has a market capitalization of $956.71 million, a P/E of 10.74 and a beta of 1.58. The stock has a 50-day simple moving average of $20.18 and a 200-day simple moving average of $18.76. BrightSphere Investment Group Inc. has a 12-month low of $14.73 and a 12-month high of $26.48.

Brightsphere Investment Group (NYSE:BSIG – Get Rating) last released its quarterly earnings data on Thursday, November 3. The company reported quarterly EPS of $0.30, $0.03 above consensus expectations of $0.27. The company’s revenue for the quarter was $86.8 million, compared with analyst estimates of $85.89 million. Brightsphere Investment Group’s return on equity was 153.15% and net profit margin was 23.92%. As a group, research analysts expect BrightSphere Investment Group Inc. to post 1.71 EPS in the current financial year.

Brightsphere Investment Group Announces Dividend

The company recently announced its quarterly dividend, which was paid out on Friday, December 30th. Shareholders of record on Friday, December 16 were awarded a dividend of $0.01 per share. The ex-dividend date for this dividend was December 15 (Thursday). That represents his $0.04 dividend and a 0.17% dividend yield on an annualized basis. Brightsphere Investment Group’s Dividend Payout Ratio (DPR) is currently at 1.86%.

Analyst sets new price target

Many analysts recently published reports on the company. The Royal Bank of Canada gave the stock an “outperform” rating, in a report on Monday, Nov. 7, when he raised Brightsphere Investment Group’s price target to $23.00 from $21.00. TheStreet downgraded BrightSphere Investment Group’s rating from ‘c’ to ‘d+’ in a report on Thursday, November 3rd. Morgan Stanley raised Brightsphere Investment Group’s price target to $20.00 from her $19.00, giving it an “equal-weighted” rating in its research notes on Thursday, Jan. 19. Finally, StockNews.com undertook coverage of BrightSphere Investment Group in his research note on Wednesday, October 12th. They issued a “Hold” rating on the stock.

Brightsphere Investment Group Company Profile

(get rating)

Brightsphere Investment Group, Inc. is a publicly traded investment management holding company. The company serves individuals and institutions. Through our subsidiaries, we manage portfolios focused on individual clients. The company also launches equity mutual funds for its clients. Through its subsidiaries, it invests in the public equity, fixed income and alternative investment markets.

References

Brightsphere Investment Group (NYSE:BSIG) quarterly institutional ownership ratio

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