BrightSphere Investment Group (NYSE:BSIG) Sets New 52-Week High After Analyst Upgrade

Shares of BrightSphere Investment Group Inc. (NYSE:BSIG) reached a new 52-week high during mid-day trading on Monday after Royal Bank of Canada raised their price target on the stock from $26.00 to $28.00. Royal Bank of Canada currently has an outperform rating on the stock. BrightSphere Investment Group traded as high as $26.60 and last traded at $26.58, with a volume of 24644 shares changing hands. The stock had previously closed at $26.04.

Separately, StockNews.com lowered shares of BrightSphere Investment Group from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd.

Institutional Trading of BrightSphere Investment Group

Several large investors have recently added to or reduced their stakes in BSIG. Jacobs Levy Equity Management Inc. acquired a new position in shares of BrightSphere Investment Group during the first quarter worth approximately $853,000. Denali Advisors LLC lifted its holdings in BrightSphere Investment Group by 99.5% in the first quarter. Denali Advisors LLC now owns 157,091 shares of the company’s stock valued at $3,588,000 after buying an additional 78,347 shares during the period. Jennison Associates LLC lifted its holdings in BrightSphere Investment Group by 29.4% in the first quarter. Jennison Associates LLC now owns 759,391 shares of the company’s stock valued at $17,344,000 after buying an additional 172,318 shares during the period. Renaissance Technologies LLC lifted its holdings in BrightSphere Investment Group by 297.9% in the second quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock valued at $3,414,000 after buying an additional 115,300 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in BrightSphere Investment Group by 61.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 77,216 shares of the company’s stock valued at $1,756,000 after buying an additional 29,302 shares during the period. 98.69% of the stock is owned by institutional investors.

BrightSphere Investment Group Stock Up 2.2 %

The company’s fifty day moving average is $23.98 and its two-hundred day moving average is $23.34. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 16.22 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 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. The business had revenue of $109.00 million for the quarter, compared to analyst estimates 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 prior year, the business posted $0.28 earnings per share. On average, equities research analysts expect that BrightSphere Investment Group Inc. will post 2.31 EPS for the current year.

BrightSphere Investment Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.01 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.04 annualized dividend and a yield of 0.15%. BrightSphere Investment Group’s dividend payout ratio (DPR) is presently 2.44%.

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.