Northern Trust Corp Grows Position in Brightsphere Investment Group PLC (BSIG)

Northern Trust Corp boosted its position in Brightsphere Investment Group PLC (NYSE:BSIG) by 8.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 815,960 shares of the company’s stock after purchasing an additional 61,667 shares during the quarter. Northern Trust Corp owned approximately 0.74% of Brightsphere Investment Group worth $11,636,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Howe & Rusling Inc. bought a new position in Brightsphere Investment Group in the second quarter worth about $102,000. Point72 Hong Kong Ltd raised its holdings in Brightsphere Investment Group by 10,714.7% in the second quarter. Point72 Hong Kong Ltd now owns 7,354 shares of the company’s stock worth $105,000 after purchasing an additional 7,286 shares in the last quarter. Jane Street Group LLC bought a new position in Brightsphere Investment Group in the second quarter worth about $211,000. SG Americas Securities LLC raised its holdings in Brightsphere Investment Group by 131.1% in the second quarter. SG Americas Securities LLC now owns 15,694 shares of the company’s stock worth $224,000 after purchasing an additional 8,903 shares in the last quarter. Finally, Brown Advisory Inc. bought a new position in Brightsphere Investment Group in the second quarter worth about $316,000. Institutional investors and hedge funds own 1.34% of the company’s stock.

BSIG opened at $12.98 on Friday. Brightsphere Investment Group PLC has a 52-week low of $11.15 and a 52-week high of $18.62. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.20.

Brightsphere Investment Group (NYSE:BSIG) last posted its quarterly earnings data on Thursday, November 1st. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. Brightsphere Investment Group had a net margin of 6.71% and a return on equity of 135.80%. The firm had revenue of $230.10 million for the quarter, compared to the consensus estimate of $227.95 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities research analysts expect that Brightsphere Investment Group PLC will post 1.86 earnings per share for the current year.

A number of equities analysts have commented on the stock. Citigroup reduced their target price on shares of Brightsphere Investment Group from $17.50 to $16.50 and set a “buy” rating for the company in a report on Friday, November 2nd. Zacks Investment Research upgraded shares of Brightsphere Investment Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 11th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $19.00 target price on shares of Brightsphere Investment Group in a report on Friday, July 13th. Finally, Morgan Stanley reduced their target price on shares of Brightsphere Investment Group from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, July 12th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $18.64.

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About Brightsphere Investment Group

BrightSphere Investment Group plc 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.

Further Reading: Diversification in Investing

Institutional Ownership by Quarter for Brightsphere Investment Group (NYSE:BSIG)

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