BrightSphere Investment Group (NYSE:BSIG) Hits New 1-Year High – Here’s What Happened

BrightSphere Investment Group Inc. (NYSE:BSIG)’s stock price 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

Several equities research analysts recently issued reports on BSIG shares. Royal Bank of Canada increased their price objective on 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 upped their target price for the company from $23.00 to $26.00 in a report on Friday, October 18th. Evercore ISI raised their price target on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. One 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 data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $29.00.

BrightSphere Investment Group Trading Down 0.1 %

The firm has a 50-day simple moving average of $27.14 and a two-hundred day simple moving average of $24.60. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 18.92 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 7,606.72% and a net margin of 13.92%. During the same quarter in the prior year, the company posted $0.45 earnings per share. On average, sell-side analysts forecast that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current year.

BrightSphere Investment Group Dividend Announcement

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 issued a dividend of $0.01 per share. 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 dividend payout ratio is currently 2.42%.

Hedge Funds Weigh In On BrightSphere Investment Group

Hedge funds have recently bought and sold shares of the business. Creative Planning grew its holdings in BrightSphere Investment Group by 7.6% during the second quarter. Creative Planning now owns 17,553 shares of the company’s stock valued at $389,000 after purchasing an additional 1,235 shares during the last quarter. Gladius Capital Management LP bought a new position in BrightSphere Investment Group in the 2nd quarter worth $32,000. Assenagon Asset Management S.A. raised its holdings in BrightSphere Investment Group by 3.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 55,574 shares of the company’s stock worth $1,412,000 after acquiring an additional 1,805 shares during the period. Linden Thomas Advisory Services LLC boosted its holdings 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 valued at $465,000 after acquiring an additional 1,889 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of BrightSphere Investment Group by 8.2% in the first 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 during the last quarter. 98.69% of the stock is owned by institutional investors and hedge funds.

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.