BrightSphere Investment Group (NYSE:BSIG) Sets New 12-Month High – Time to Buy?

BrightSphere Investment Group Inc. (NYSE:BSIGGet Free Report)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $31.52 and last traded at $31.50, with a volume of 6245 shares traded. The stock had previously closed at $31.24.

Analysts Set New Price Targets

A number of analysts recently issued reports on BSIG shares. Royal Bank of Canada lifted their price target on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Morgan Stanley downgraded BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $23.00 to $26.00 in a report on Friday, October 18th. Evercore ISI upped their target price on BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. One equities research 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. According to data from MarketBeat, BrightSphere Investment Group has a consensus rating of “Hold” and an average price target of $29.00.

View Our Latest Report on BSIG

BrightSphere Investment Group Stock Performance

The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 18.93 and a beta of 1.41. The firm’s 50 day moving average is $26.89 and its 200-day moving average is $24.49.

BrightSphere Investment Group (NYSE:BSIGGet Free Report) last announced 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. The firm had revenue of $123.10 million for the quarter, compared to the consensus estimate 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 firm posted $0.45 EPS. As a group, research analysts predict that BrightSphere Investment Group Inc. will post 2.59 EPS for the current year.

BrightSphere Investment Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.01 dividend. The ex-dividend date 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 payout ratio is 2.42%.

Hedge Funds Weigh In On BrightSphere Investment Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System acquired a new position in shares of BrightSphere Investment Group in the 1st quarter valued at $265,000. CANADA LIFE ASSURANCE Co increased its position in shares of BrightSphere Investment Group by 8.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 29,326 shares of the company’s stock valued at $670,000 after buying an additional 2,213 shares in the last quarter. Quadrature Capital Ltd grew its stake in BrightSphere Investment Group by 12.6% in the first quarter. Quadrature Capital Ltd now owns 23,082 shares of the company’s stock valued at $527,000 after acquiring an additional 2,588 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in shares of BrightSphere Investment Group in the first quarter worth about $214,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of BrightSphere Investment Group during the 1st quarter valued at about $853,000. 98.69% of the stock is currently owned by institutional investors and hedge funds.

BrightSphere Investment Group Company Profile

(Get Free Report)

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.

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