BrightSphere Investment Group Inc. (NYSE:BSIG – Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $30.08 and last traded at $29.96, with a volume of 6296 shares trading hands. The stock had previously closed at $28.04.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the stock. Royal Bank of Canada boosted 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. StockNews.com upgraded shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a report on Friday, November 1st. 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 report on Thursday. Finally, Morgan Stanley downgraded shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $23.00 to $26.00 in a report on Friday, October 18th. 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. Based on data from MarketBeat.com, BrightSphere Investment Group currently has an average rating of “Hold” and an average target price of $29.00.
View Our Latest Stock Analysis on BrightSphere Investment Group
BrightSphere Investment Group Trading Down 1.9 %
BrightSphere Investment Group (NYSE:BSIG – Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $123.10 million for the quarter, compared to analyst estimates of $114.95 million. During the same quarter last year, the firm posted $0.45 EPS. On average, equities analysts expect that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current year.
BrightSphere Investment Group Announces Dividend
The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.14%. BrightSphere Investment Group’s payout ratio is currently 2.42%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of BSIG. Renaissance Technologies LLC raised its holdings 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 worth $3,414,000 after acquiring an additional 115,300 shares during the period. Marshall Wace LLP purchased a new stake in BrightSphere Investment Group in the 2nd quarter valued at about $1,870,000. Susquehanna Fundamental Investments LLC purchased a new stake in BrightSphere Investment Group in the 1st quarter valued at about $1,292,000. Maverick Capital Ltd. purchased a new stake in BrightSphere Investment Group in the 2nd quarter valued at about $1,204,000. Finally, Impax Asset Management Group plc raised its holdings in BrightSphere Investment Group by 4.8% in the 3rd quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock valued at $27,910,000 after buying an additional 50,000 shares during the period. Hedge funds and other institutional investors own 98.69% of the company’s stock.
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.
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