MetLife Investment Management LLC Trims Holdings in BrightSphere Investment Group Inc. (NYSE:BSIG)

MetLife Investment Management LLC decreased its stake in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 7.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 15,591 shares of the company’s stock after selling 1,299 shares during the quarter. MetLife Investment Management LLC’s holdings in BrightSphere Investment Group were worth $396,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Gladius Capital Management LP purchased a new position in BrightSphere Investment Group during the second quarter worth approximately $32,000. Blue Trust Inc. raised its position 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 valued at $79,000 after purchasing an additional 2,997 shares during the period. Quest Partners LLC purchased a new stake in BrightSphere Investment Group in the second quarter valued at $147,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in BrightSphere Investment Group by 67.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock valued at $195,000 after purchasing an additional 3,561 shares during the period. Finally, Price T Rowe Associates Inc. MD purchased a new stake in BrightSphere Investment Group in the first quarter valued at $214,000. Hedge funds and other institutional investors own 98.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on BSIG. Royal Bank of Canada lifted their target price on BrightSphere Investment Group from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Morgan Stanley downgraded BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $23.00 to $26.00 in a research report on Friday, October 18th. StockNews.com upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Evercore ISI lifted their target price 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, BrightSphere Investment Group currently has an average rating of “Hold” and a consensus price target of $29.00.

BrightSphere Investment Group Trading Down 0.5 %

Shares of NYSE BSIG opened at $30.93 on Monday. BrightSphere Investment Group Inc. has a twelve month low of $17.99 and a twelve month high of $31.52. The stock has a fifty day simple moving average of $27.90 and a 200-day simple moving average of $25.01. The stock has a market capitalization of $1.15 billion, a PE ratio of 18.75 and a beta of 1.45.

BrightSphere Investment Group (NYSE:BSIG) last released its earnings results on Thursday, October 31st. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. The firm had revenue of $123.10 million during the quarter, compared to analysts’ expectations of $114.95 million. During the same period in the previous year, the firm posted $0.45 EPS. On average, equities analysts predict that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current year.

BrightSphere Investment Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.04 annualized dividend and a yield of 0.13%. BrightSphere Investment Group’s payout ratio is 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.