Creative Planning Acquires 1,235 Shares of BrightSphere Investment Group Inc. (NYSE:BSIG)

Creative Planning lifted its holdings in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 7.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,553 shares of the company’s stock after acquiring an additional 1,235 shares during the quarter. Creative Planning’s holdings in BrightSphere Investment Group were worth $389,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. bought a new stake in BrightSphere Investment Group during the 1st quarter worth $853,000. Denali Advisors LLC raised its stake in BrightSphere Investment Group by 99.5% during the 1st quarter. Denali Advisors LLC now owns 157,091 shares of the company’s stock worth $3,588,000 after buying an additional 78,347 shares during the period. Jennison Associates LLC raised its stake in BrightSphere Investment Group by 29.4% during the 1st quarter. Jennison Associates LLC now owns 759,391 shares of the company’s stock worth $17,344,000 after buying an additional 172,318 shares during the period. Renaissance Technologies LLC increased its holdings in BrightSphere Investment Group by 297.9% during the 2nd quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock worth $3,414,000 after purchasing an additional 115,300 shares in the last quarter. Finally, Maverick Capital Ltd. bought a new stake in BrightSphere Investment Group during the 2nd quarter worth approximately $1,204,000. 98.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BSIG shares. StockNews.com lowered BrightSphere Investment Group from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Royal Bank of Canada increased their price objective on BrightSphere Investment Group from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th.

BrightSphere Investment Group Stock Performance

BSIG stock opened at $27.00 on Thursday. The firm has a 50 day moving average price of $24.18 and a 200-day moving average price of $23.39. BrightSphere Investment Group Inc. has a 52-week low of $15.23 and a 52-week high of $27.31. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 16.46 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $109.00 million during the quarter, compared to the consensus estimate of $104.72 million. BrightSphere Investment Group had a net margin of 15.00% and a return on equity of 871.33%. During the same quarter in the previous year, the firm posted $0.28 EPS. As a group, sell-side analysts forecast that BrightSphere Investment Group Inc. will post 2.31 earnings per share for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.15%. The ex-dividend date was Friday, September 13th. BrightSphere Investment Group’s dividend 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.