BrightSphere Investment Group (NYSE:BSIG) Hits New 12-Month High – Should You Buy?

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BSIG. StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Evercore ISI upped their price objective on shares of 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. Royal Bank of Canada increased their target price 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. Finally, Morgan Stanley lowered 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 research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, BrightSphere Investment Group currently has an average rating of “Hold” and a consensus price target of $29.00.

BrightSphere Investment Group Trading Down 0.1 %

The stock has a market cap of $1.16 billion, a P/E ratio of 18.92 and a beta of 1.41. The company’s fifty day simple moving average is $27.14 and its 200-day simple moving average is $24.60.

BrightSphere Investment Group (NYSE:BSIG) last posted its earnings results on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The business 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 in the previous year, the firm posted $0.45 earnings per share. As a group, analysts expect that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current fiscal year.

BrightSphere Investment Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 annualized dividend 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 bought and sold shares of the stock. CANADA LIFE ASSURANCE Co boosted its stake 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 purchasing an additional 2,213 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in BrightSphere Investment Group in the first quarter valued at about $214,000. Jacobs Levy Equity Management Inc. bought a new stake in BrightSphere Investment Group during the first quarter worth about $853,000. Linden Thomas Advisory Services LLC grew its stake in BrightSphere Investment Group by 9.9% during the second quarter. Linden Thomas Advisory Services LLC now owns 20,960 shares of the company’s stock worth $465,000 after buying an additional 1,889 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of BrightSphere Investment Group by 17.0% during the second quarter. Assenagon Asset Management S.A. now owns 53,769 shares of the company’s stock worth $1,192,000 after buying an additional 7,810 shares in the last quarter. 98.69% of the stock is currently owned by institutional investors.

About BrightSphere Investment Group

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.