Velanne Asset Management Ltd Acquires 20,684 Shares of Brightsphere Investment Group PLC (BSIG)

Velanne Asset Management Ltd raised its holdings in shares of Brightsphere Investment Group PLC (NYSE:BSIG) by 4.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 525,322 shares of the company’s stock after acquiring an additional 20,684 shares during the quarter. Brightsphere Investment Group makes up about 4.9% of Velanne Asset Management Ltd’s investment portfolio, making the stock its 9th biggest position. Velanne Asset Management Ltd’s holdings in Brightsphere Investment Group were worth $7,123,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Brightsphere Investment Group by 24.4% during the fourth quarter. Geode Capital Management LLC now owns 371,174 shares of the company’s stock valued at $3,963,000 after purchasing an additional 72,901 shares in the last quarter. Norges Bank purchased a new position in shares of Brightsphere Investment Group during the fourth quarter valued at about $20,685,000. Dimensional Fund Advisors LP grew its position in shares of Brightsphere Investment Group by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,939,701 shares of the company’s stock valued at $20,716,000 after purchasing an additional 118,443 shares in the last quarter. FMR LLC grew its position in shares of Brightsphere Investment Group by 32.8% during the fourth quarter. FMR LLC now owns 10,623,076 shares of the company’s stock valued at $113,455,000 after purchasing an additional 2,625,467 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Brightsphere Investment Group by 3.6% during the fourth quarter. Nordea Investment Management AB now owns 375,001 shares of the company’s stock valued at $4,005,000 after purchasing an additional 13,105 shares in the last quarter. 0.74% of the stock is currently owned by institutional investors and hedge funds.

In other Brightsphere Investment Group news, major shareholder Hna Eagle Holdco Llc sold 22,776,663 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $13.94, for a total transaction of $317,506,682.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Aidan J. Riordan sold 3,993 shares of the business’s stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $13.36, for a total value of $53,346.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,792,535 shares of company stock valued at $317,725,199. 0.61% of the stock is currently owned by company insiders.

BSIG has been the subject of a number of research analyst reports. Royal Bank of Canada set a $16.00 price objective on Brightsphere Investment Group and gave the company a “buy” rating in a research report on Friday, February 8th. Zacks Investment Research upgraded Brightsphere Investment Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Morgan Stanley set a $13.00 price target on Brightsphere Investment Group and gave the stock a “hold” rating in a research report on Thursday, February 28th. Keefe, Bruyette & Woods lowered Brightsphere Investment Group from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $15.25 to $13.00 in a research report on Tuesday, January 8th. Finally, Citigroup lowered Brightsphere Investment Group from a “buy” rating to a “neutral” rating in a research report on Monday, January 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $16.25.

BSIG traded up $0.10 on Wednesday, hitting $14.60. The company had a trading volume of 10,021 shares. Brightsphere Investment Group PLC has a 12-month low of $10.04 and a 12-month high of $16.34.

Brightsphere Investment Group (NYSE:BSIG) last released its quarterly earnings results on Thursday, February 7th. The company reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.05. The company had revenue of $214.50 million during the quarter, compared to analyst estimates of $212.23 million. Brightsphere Investment Group had a return on equity of 141.96% and a net margin of 14.69%. The company’s quarterly revenue was down 13.9% on a year-over-year basis. Analysts anticipate that Brightsphere Investment Group PLC will post 1.82 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 annualized dividend and a yield of 2.74%.

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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: Preferred Stock

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

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