Jennison Associates LLC Buys 195,417 Shares of BrightSphere Investment Group Inc. (NYSE:BSIG)

Jennison Associates LLC lifted its position in BrightSphere Investment Group Inc. (NYSE:BSIG) by 25.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 968,936 shares of the company’s stock after buying an additional 195,417 shares during the quarter. Jennison Associates LLC owned approximately 2.61% of BrightSphere Investment Group worth $24,611,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Quest Partners LLC boosted its stake in BrightSphere Investment Group by 329.0% during the third quarter. Quest Partners LLC now owns 28,459 shares of the company’s stock valued at $723,000 after buying an additional 21,825 shares during the period. GSA Capital Partners LLP boosted its position in shares of BrightSphere Investment Group by 29.4% during the 3rd quarter. GSA Capital Partners LLP now owns 46,993 shares of the company’s stock valued at $1,194,000 after acquiring an additional 10,674 shares during the last quarter. Impax Asset Management Group plc grew its holdings in shares of BrightSphere Investment Group by 4.8% during the third quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock worth $27,910,000 after purchasing an additional 50,000 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of BrightSphere Investment Group by 24.3% in the third quarter. New York State Teachers Retirement System now owns 13,132 shares of the company’s stock worth $334,000 after purchasing an additional 2,565 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in BrightSphere Investment Group by 3.4% in the third quarter. Assenagon Asset Management S.A. now owns 55,574 shares of the company’s stock valued at $1,412,000 after purchasing an additional 1,805 shares in the last quarter. 98.69% of the stock is currently owned by institutional investors.

BrightSphere Investment Group Stock Up 1.6 %

Shares of NYSE:BSIG opened at $31.02 on Friday. The stock has a market cap of $1.16 billion, a PE ratio of 18.80 and a beta of 1.41. The company’s fifty day moving average is $26.77 and its 200 day moving average is $24.41. BrightSphere Investment Group Inc. has a 52 week low of $17.32 and a 52 week high of $31.10.

BrightSphere Investment Group (NYSE:BSIG) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. The firm had revenue of $123.10 million for the quarter, compared to the consensus estimate of $114.95 million. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. During the same quarter in the previous year, the business earned $0.45 earnings per share. Sell-side analysts anticipate that BrightSphere Investment Group Inc. will post 2.59 EPS for the current year.

BrightSphere Investment Group Dividend Announcement

The business also recently disclosed 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend is Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio (DPR) is presently 2.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. 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. Morgan Stanley cut BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and increased their target price for the company from $23.00 to $26.00 in a research note on Friday, October 18th. StockNews.com raised BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada increased their price objective 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.00.

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.