BrightSphere Investment Group (NYSE:BSIG) Sets New 52-Week High – Here’s What Happened

BrightSphere Investment Group Inc. (NYSE:BSIG) reached a new 52-week high during trading on Thursday . The company traded as high as $30.49 and last traded at $30.49, with a volume of 2628 shares trading hands. The stock had previously closed at $30.19.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BSIG shares. Royal Bank of Canada increased their price target on BrightSphere Investment Group from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. StockNews.com raised BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Morgan Stanley lowered BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and increased their price target for the company from $23.00 to $26.00 in a research report on Friday, October 18th. Finally, Evercore ISI raised their target price on BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.00.

BrightSphere Investment Group Stock Performance

The firm has a 50 day simple moving average of $26.51 and a 200 day simple moving average of $24.31. The firm has a market cap of $1.14 billion, a P/E ratio of 18.29 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last issued its earnings results on Thursday, October 31st. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. The business had revenue of $123.10 million during the quarter, compared to the consensus estimate of $114.95 million. During the same quarter last year, the company earned $0.45 EPS. Sell-side analysts predict that BrightSphere Investment Group Inc. will post 2.59 EPS for the current fiscal year.

BrightSphere Investment Group Announces Dividend

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 dividend of $0.01 per share. 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 dividend payout ratio (DPR) is presently 2.42%.

Institutional Trading of BrightSphere Investment Group

A number of large investors have recently modified their holdings of BSIG. Gladius Capital Management LP bought a new stake in shares of BrightSphere Investment Group during the 2nd quarter valued at about $32,000. Blue Trust Inc. boosted its position in shares of BrightSphere Investment Group by 2,397.6% during the 3rd quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock valued at $79,000 after acquiring an additional 2,997 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of BrightSphere Investment Group during the 3rd quarter valued at about $89,000. Quest Partners LLC purchased a new position in shares of BrightSphere Investment Group during the 2nd quarter valued at about $147,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 valued at $195,000 after buying an additional 3,561 shares in the last quarter. 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.