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

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. The stock had previously closed at $31.24.

Analysts Set New Price Targets

Several research firms have recently commented on BSIG. Morgan Stanley downgraded BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $23.00 to $26.00 in a report on Friday, October 18th. StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada raised their target price on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Evercore ISI upped their target price on 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $29.00.

BrightSphere Investment Group Trading Down 0.3 %

The company’s 50-day simple moving average is $26.89 and its 200-day simple moving average is $24.49. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 18.93 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last issued its quarterly earnings data 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 company 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 company earned $0.45 earnings per share. On average, equities research 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 company 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 $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 payout ratio is 2.42%.

Institutional Trading of BrightSphere Investment Group

Hedge funds have recently bought and sold shares of the business. Azora Capital LP grew its holdings in BrightSphere Investment Group by 10.7% during the third quarter. Azora Capital LP now owns 2,028,358 shares of the company’s stock worth $51,520,000 after buying an additional 195,728 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in BrightSphere Investment Group by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,126,772 shares of the company’s stock valued at $24,980,000 after acquiring an additional 4,399 shares during the last quarter. Impax Asset Management Group plc grew its position in shares of BrightSphere Investment Group by 4.8% during 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 acquiring an additional 50,000 shares during the period. Jennison Associates LLC raised its holdings in shares of BrightSphere Investment Group by 25.3% in the 3rd quarter. Jennison Associates LLC now owns 968,936 shares of the company’s stock worth $24,611,000 after purchasing an additional 195,417 shares during the period. Finally, Denali Advisors LLC lifted its stake in BrightSphere Investment Group by 1.9% in the second quarter. Denali Advisors LLC now owns 160,000 shares of the company’s stock valued at $3,547,000 after purchasing an additional 2,909 shares during the last quarter. Institutional investors and hedge funds 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.