BrightSphere Investment Group (NYSE:BSIG) Hits New 12-Month High – Here’s Why

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BSIG. Royal Bank of Canada upped their target price on BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Evercore ISI lifted 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 research note on Thursday, November 7th. Finally, Morgan Stanley downgraded BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their price objective for the company from $23.00 to $26.00 in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to MarketBeat, BrightSphere Investment Group has a consensus rating of “Hold” and an average target price of $29.00.

Read Our Latest Report on BSIG

BrightSphere Investment Group Stock Up 1.6 %

The company has a market capitalization of $1.16 billion, a PE ratio of 18.80 and a beta of 1.41. The stock has a 50-day moving average of $26.77 and a 200 day moving average of $24.41.

BrightSphere Investment Group (NYSE:BSIGGet Free Report) last released its earnings results on Thursday, October 31st. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period last year, the business posted $0.45 earnings per share. Equities analysts forecast that BrightSphere Investment Group Inc. will post 2.59 EPS for the current fiscal year.

BrightSphere Investment Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio is currently 2.42%.

Institutional Trading of BrightSphere Investment Group

A number of hedge funds and other institutional investors have recently made changes to their positions in BSIG. Azora Capital LP raised its stake in shares of BrightSphere Investment Group by 10.7% during the 3rd quarter. Azora Capital LP now owns 2,028,358 shares of the company’s stock valued at $51,520,000 after purchasing an additional 195,728 shares during the period. Jennison Associates LLC raised its stake in shares of BrightSphere Investment Group by 25.3% during the 3rd quarter. Jennison Associates LLC now owns 968,936 shares of the company’s stock valued at $24,611,000 after purchasing an additional 195,417 shares during the period. Renaissance Technologies LLC raised its stake in shares of BrightSphere Investment Group by 297.9% during the 2nd quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock valued at $3,414,000 after purchasing an additional 115,300 shares during the period. Marshall Wace LLP purchased a new position in BrightSphere Investment Group during the second quarter worth about $1,870,000. Finally, Maverick Capital Ltd. purchased a new position in BrightSphere Investment Group during the second quarter worth about $1,204,000. 98.69% of the stock is currently owned by institutional investors.

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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