BrightSphere Investment Group (NYSE:BSIG) Reaches New 52-Week High – Here’s Why

BrightSphere Investment Group Inc. (NYSE:BSIG) hit a new 52-week high during trading on Wednesday . The stock traded as high as $30.08 and last traded at $29.96, with a volume of 6296 shares traded. The stock had previously closed at $28.04.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BSIG. Morgan Stanley lowered shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and increased their price target for the stock from $23.00 to $26.00 in a research note on Friday, October 18th. Royal Bank of Canada raised 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 note on Friday, November 1st. StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, Evercore ISI raised their price target on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a report on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $29.00.

BrightSphere Investment Group Trading Down 1.9 %

The company has a market cap of $1.09 billion, a P/E ratio of 17.77 and a beta of 1.41. The business’s 50 day simple moving average is $25.39 and its 200 day simple moving average is $23.86.

BrightSphere Investment Group (NYSE:BSIG) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.07. The firm had revenue of $123.10 million for the quarter, compared to analysts’ expectations of $114.95 million. BrightSphere Investment Group had a net margin of 13.92% and a return on equity of 7,606.72%. During the same quarter last year, the business posted $0.45 earnings per share. Sell-side analysts anticipate 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. Investors of record on Friday, December 13th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.14%. The ex-dividend date is Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio is presently 2.42%.

Institutional Investors Weigh In On BrightSphere Investment Group

Several large investors have recently bought and sold shares of BSIG. Gladius Capital Management LP purchased a new position in BrightSphere Investment Group during the second quarter worth $32,000. Blue Trust Inc. boosted its stake 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 period. Quest Partners LLC purchased a new position in BrightSphere Investment Group during the second quarter worth $147,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in BrightSphere Investment Group by 67.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock worth $195,000 after buying an additional 3,561 shares during the period. Finally, Price T Rowe Associates Inc. MD purchased a new position in BrightSphere Investment Group during the first quarter worth $214,000. Institutional investors 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.