Short Interest in BrightSphere Investment Group Inc. (NYSE:BSIG) Decreases By 21.0%

BrightSphere Investment Group Inc. (NYSE:BSIG) saw a large drop in short interest in June. As of June 30th, there was short interest totalling 2,290,000 shares, a drop of 21.0% from the June 15th total of 2,900,000 shares. Currently, 6.1% of the shares of the company are sold short. Based on an average daily volume of 267,800 shares, the short-interest ratio is currently 8.6 days.

BrightSphere Investment Group Trading Up 1.6 %

BSIG opened at $24.31 on Tuesday. BrightSphere Investment Group has a 12-month low of $15.23 and a 12-month high of $24.51. The firm has a market capitalization of $917.95 million, a PE ratio of 14.82 and a beta of 1.45. The firm has a 50 day moving average of $22.53 and a two-hundred day moving average of $22.08.

BrightSphere Investment Group (NYSE:BSIG) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.10. BrightSphere Investment Group had a net margin of 15.53% and a return on equity of 438.16%. The company had revenue of $105.70 million during the quarter, compared to analyst estimates of $101.32 million. As a group, analysts predict that BrightSphere Investment Group will post 2.22 EPS for the current fiscal year.

BrightSphere Investment Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend was Friday, June 14th. BrightSphere Investment Group’s dividend payout ratio (DPR) is 2.44%.

Hedge Funds Weigh In On BrightSphere Investment Group

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in shares of BrightSphere Investment Group by 29.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,885 shares of the company’s stock valued at $94,000 after purchasing an additional 1,106 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of BrightSphere Investment Group during the 1st quarter valued at approximately $214,000. State Board of Administration of Florida Retirement System purchased a new position in shares of BrightSphere Investment Group during the 1st quarter valued at approximately $265,000. Linden Thomas Advisory Services LLC increased its holdings in shares of BrightSphere Investment Group by 20.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 12,600 shares of the company’s stock valued at $241,000 after purchasing an additional 2,171 shares in the last quarter. Finally, UniSuper Management Pty Ltd purchased a new position in shares of BrightSphere Investment Group during the 1st quarter valued at approximately $321,000. 98.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd.

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.