BrightSphere Investment Group (NYSE:BSIG) Reaches New 1-Year High – What’s Next?

BrightSphere Investment Group Inc. (NYSE:BSIG)’s share price reached a new 52-week high on Thursday . The company traded as high as $27.58 and last traded at $27.11, with a volume of 3367 shares traded. The stock had previously closed at $26.37.

Analyst Upgrades and Downgrades

BSIG has been the topic of several research analyst reports. StockNews.com upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Friday. Royal Bank of Canada upped their price objective on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Friday. Finally, Morgan Stanley cut shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $23.00 to $26.00 in a research note on Friday, October 18th.

BrightSphere Investment Group Price Performance

The stock has a fifty day moving average of $25.00 and a 200 day moving average of $23.69. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 16.62 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. The business had revenue of $109.00 million during the quarter, compared to analysts’ expectations of $104.72 million. BrightSphere Investment Group had a net margin of 15.00% and a return on equity of 871.33%. During the same period in the previous year, the business posted $0.28 EPS. As a group, equities analysts expect that BrightSphere Investment Group Inc. will post 2.4 earnings per share 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. Shareholders of record on Friday, December 13th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend is Friday, December 13th. BrightSphere Investment Group’s payout ratio is 2.42%.

Hedge Funds Weigh In On BrightSphere Investment Group

Institutional investors have recently modified their holdings of the stock. Gladius Capital Management LP purchased a new position in BrightSphere Investment Group during the second quarter valued at approximately $32,000. Blue Trust Inc. increased its holdings 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 purchasing an additional 2,997 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of BrightSphere Investment Group by 29.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,885 shares of the company’s stock valued at $94,000 after purchasing an additional 1,106 shares during the period. Quest Partners LLC purchased a new stake in BrightSphere Investment Group during the second quarter worth $147,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 valued at $195,000 after buying an additional 3,561 shares during the period. Hedge funds and other institutional investors own 98.69% of the company’s stock.

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.