Azora Capital LP Buys 195,728 Shares of BrightSphere Investment Group Inc. (NYSE:BSIG)

Azora Capital LP boosted its stake in shares of BrightSphere Investment Group Inc. (NYSE:BSIG) by 10.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,028,358 shares of the company’s stock after purchasing an additional 195,728 shares during the period. BrightSphere Investment Group accounts for about 2.8% of Azora Capital LP’s investment portfolio, making the stock its 15th biggest holding. Azora Capital LP owned 5.44% of BrightSphere Investment Group worth $51,520,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of BSIG. Gladius Capital Management LP acquired a new position in shares of BrightSphere Investment Group during the 2nd quarter worth about $32,000. Blue Trust Inc. increased its position in BrightSphere Investment Group by 2,397.6% during the third quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock worth $79,000 after buying an additional 2,997 shares during the last quarter. Quest Partners LLC bought a new stake in BrightSphere Investment Group in the second quarter valued at approximately $147,000. Verition Fund Management LLC acquired a new stake in shares of BrightSphere Investment Group in the third quarter valued at approximately $213,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of BrightSphere Investment Group by 67.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock worth $195,000 after acquiring an additional 3,561 shares during the period. 98.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BSIG. Evercore ISI increased their price target on BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Royal Bank of Canada increased their price objective on shares of 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 shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $23.00 to $26.00 in a report on Friday, October 18th. Finally, StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $29.00.

BrightSphere Investment Group Price Performance

BSIG stock opened at $31.18 on Monday. BrightSphere Investment Group Inc. has a fifty-two week low of $17.32 and a fifty-two week high of $31.52. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 18.90 and a beta of 1.41. The business’s fifty day moving average price is $27.36 and its two-hundred day moving average price is $24.72.

BrightSphere Investment Group (NYSE:BSIG) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.59 EPS 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 business had revenue of $123.10 million for the quarter, compared to analyst estimates of $114.95 million. During the same period last year, the firm earned $0.45 earnings per share. Research analysts expect that BrightSphere Investment Group Inc. will post 2.59 EPS for the current year.

BrightSphere Investment Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.01 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.13%. BrightSphere Investment Group’s payout ratio is 2.42%.

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.