Jane Street Group LLC Reduces Stake in BrightSphere Investment Group Inc. (NYSE:BSIG)

Jane Street Group LLC lessened its stake in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 4.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 118,745 shares of the company’s stock after selling 4,958 shares during the quarter. Jane Street Group LLC owned about 0.32% of BrightSphere Investment Group worth $3,016,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Weiss Asset Management LP bought a new stake in BrightSphere Investment Group during the third quarter valued at approximately $477,000. Point72 Asset Management L.P. bought a new position in BrightSphere Investment Group in the third quarter valued at $89,000. Azora Capital LP raised its position in BrightSphere Investment Group by 10.7% during the third quarter. Azora Capital LP now owns 2,028,358 shares of the company’s stock valued at $51,520,000 after purchasing an additional 195,728 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in BrightSphere Investment Group during the third quarter worth about $311,000. Finally, PDT Partners LLC boosted its holdings in shares of BrightSphere Investment Group by 13.0% in the 3rd quarter. PDT Partners LLC now owns 47,166 shares of the company’s stock worth $1,198,000 after purchasing an additional 5,418 shares in the last quarter. 98.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on BSIG. StockNews.com raised BrightSphere Investment Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Morgan Stanley lowered their price objective on shares of BrightSphere Investment Group from $26.00 to $25.00 and set an “underweight” rating for the company in a report on Friday. Royal Bank of Canada lowered shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $30.00 to $33.00 in a report on Tuesday, December 10th. Evercore ISI boosted their price target on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, BMO Capital Markets reaffirmed a “sector perform” rating and set a $33.00 price objective (up from $30.00) on shares of BrightSphere Investment Group in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, BrightSphere Investment Group has an average rating of “Hold” and an average target price of $30.50.

BrightSphere Investment Group Stock Down 3.6 %

Shares of BSIG opened at $27.01 on Friday. The stock has a market capitalization of $1.01 billion, a P/E ratio of 16.37 and a beta of 1.45. BrightSphere Investment Group Inc. has a twelve month low of $18.09 and a twelve month high of $31.52. The firm has a fifty day simple moving average of $28.97 and a two-hundred day simple moving average of $25.48.

BrightSphere Investment Group (NYSE:BSIG) last posted its earnings results on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. BrightSphere Investment Group had a net margin of 13.92% and a return on equity of 7,606.72%. The company had revenue of $123.10 million during the quarter, compared to analyst estimates of $114.95 million. During the same period in the prior year, the business posted $0.45 earnings per share. Sell-side analysts expect that BrightSphere Investment Group Inc. will post 2.59 EPS for the current fiscal year.

BrightSphere Investment Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.01 per share. The ex-dividend date is Friday, December 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.15%. BrightSphere Investment Group’s dividend payout ratio (DPR) is presently 2.42%.

About BrightSphere Investment Group

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.