BrightSphere Investment Group (NYSE:BSIG) Hits New 12-Month High – Here’s Why

BrightSphere Investment Group Inc. (NYSE:BSIG) shares reached a new 52-week high on Thursday . The stock traded as high as $30.49 and last traded at $30.49, with a volume of 2628 shares trading hands. The stock had previously closed at $30.19.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Royal Bank of Canada raised their price objective on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. StockNews.com upgraded shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Morgan Stanley cut shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $23.00 to $26.00 in a research report on Friday, October 18th. Finally, Evercore ISI raised their target price on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, BrightSphere Investment Group currently has an average rating of “Hold” and an average target price of $29.00.

BrightSphere Investment Group Trading Up 1.6 %

The company has a market cap of $1.16 billion, a P/E ratio of 18.80 and a beta of 1.41. The firm’s 50 day moving average price is $26.77 and its 200-day moving average price is $24.41.

BrightSphere Investment Group (NYSE:BSIG) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. BrightSphere Investment Group had a net margin of 13.92% and a return on equity of 7,606.72%. The business 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 earned $0.45 EPS. Analysts predict that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.13%. The ex-dividend date 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 stock. Azora Capital LP increased 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 during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of 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 buying an additional 4,399 shares during the period. Impax Asset Management Group plc increased its position in shares of BrightSphere Investment Group by 4.8% in the third quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock worth $27,910,000 after purchasing an additional 50,000 shares during the period. Jennison Associates LLC raised its position 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 valued at $24,611,000 after buying an additional 195,417 shares in the last quarter. Finally, Denali Advisors LLC boosted its holdings in shares of BrightSphere Investment Group by 1.9% in the 2nd 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 in the last quarter. 98.69% of the stock is currently owned by institutional investors and hedge funds.

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.