Principal Financial Group Inc. Has $3.24 Million Position in BrightSphere Investment Group Inc. (NYSE:BSIG)

Principal Financial Group Inc. cut its stake in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 13.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 146,144 shares of the company’s stock after selling 22,226 shares during the quarter. Principal Financial Group Inc.’s holdings in BrightSphere Investment Group were worth $3,240,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BSIG. Truist Financial Corp lifted its holdings in BrightSphere Investment Group by 6.9% during the 4th quarter. Truist Financial Corp now owns 37,905 shares of the company’s stock worth $726,000 after buying an additional 2,435 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in BrightSphere Investment Group by 10.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 741,127 shares of the company’s stock worth $14,200,000 after buying an additional 68,114 shares during the period. Jump Financial LLC lifted its holdings in BrightSphere Investment Group by 65.1% during the 4th quarter. Jump Financial LLC now owns 27,463 shares of the company’s stock worth $526,000 after buying an additional 10,829 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of BrightSphere Investment Group in the 4th quarter valued at about $385,000. Finally, Trexquant Investment LP acquired a new position in shares of BrightSphere Investment Group in the 4th quarter valued at about $744,000. 98.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded BrightSphere Investment Group from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd.

BrightSphere Investment Group Price Performance

Shares of NYSE:BSIG opened at $23.36 on Thursday. BrightSphere Investment Group Inc. has a 1 year low of $15.23 and a 1 year high of $26.57. The company has a market capitalization of $865.96 million, a price-to-earnings ratio of 14.24 and a beta of 1.42. The business’s 50-day moving average is $23.71 and its 200-day moving average is $22.98.

BrightSphere Investment Group (NYSE:BSIG) last issued its earnings results on Thursday, August 1st. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. BrightSphere Investment Group had a return on equity of 871.33% and a net margin of 15.00%. The business had revenue of $109.00 million during the quarter, compared to analyst estimates of $104.72 million. During the same period in the previous year, the company posted $0.28 EPS. Analysts anticipate that BrightSphere Investment Group Inc. will post 2.31 EPS for the current year.

BrightSphere Investment Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend is Friday, September 13th. BrightSphere Investment Group’s payout ratio is 2.44%.

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.