BrightSphere Investment Group Inc. (NYSE:BSIG) Sees Significant Decrease in Short Interest

BrightSphere Investment Group Inc. (NYSE:BSIG) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 565,400 shares, a decline of 8.7% from the October 15th total of 619,500 shares. Approximately 1.4% of the company’s stock are short sold. Based on an average trading volume of 180,900 shares, the short-interest ratio is currently 3.1 days.

BrightSphere Investment Group Trading Up 0.3 %

BSIG stock traded up $0.06 during mid-day trading on Friday, hitting $17.26. The stock had a trading volume of 115,868 shares, compared to its average volume of 236,633. BrightSphere Investment Group has a 1-year low of $15.23 and a 1-year high of $26.88. The company has a fifty day moving average of $17.86 and a 200 day moving average of $20.16. The stock has a market capitalization of $716.43 million, a price-to-earnings ratio of 9.98 and a beta of 1.51.

BrightSphere Investment Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Thursday, December 14th. BrightSphere Investment Group’s dividend payout ratio is 2.31%.

Analysts Set New Price Targets

BSIG has been the topic of several research reports. Royal Bank of Canada dropped their price target on BrightSphere Investment Group from $23.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. Morgan Stanley lowered their price objective on BrightSphere Investment Group from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Friday, October 6th. Finally, StockNews.com started coverage on BrightSphere Investment Group in a research note on Thursday, October 5th. They set a “hold” rating for the company.

Institutional Trading of BrightSphere Investment Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of BrightSphere Investment Group by 2.9% in the 2nd quarter. BlackRock Inc. now owns 5,210,600 shares of the company’s stock worth $109,162,000 after acquiring an additional 147,036 shares during the period. Vanguard Group Inc. raised its position in BrightSphere Investment Group by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,040,621 shares of the company’s stock valued at $45,335,000 after purchasing an additional 67,179 shares during the last quarter. FMR LLC raised its position in BrightSphere Investment Group by 3.3% in the 1st quarter. FMR LLC now owns 2,899,986 shares of the company’s stock valued at $68,382,000 after purchasing an additional 93,803 shares during the last quarter. North Reef Capital Management LP raised its position in BrightSphere Investment Group by 1.9% in the 3rd quarter. North Reef Capital Management LP now owns 1,700,000 shares of the company’s stock valued at $32,963,000 after purchasing an additional 31,717 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in BrightSphere Investment Group by 1.9% in the 2nd quarter. William Blair Investment Management LLC now owns 1,322,818 shares of the company’s stock valued at $27,713,000 after purchasing an additional 24,615 shares during the last quarter. Institutional investors and hedge funds own 98.69% of the company’s stock.

BrightSphere Investment Group Company 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.