BrightSphere Investment Group (NYSE:BSIG) Issues Earnings Results, Beats Expectations By $0.07 EPS

BrightSphere Investment Group (NYSE:BSIG) issued its earnings results on Thursday. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07, Zacks reports. BrightSphere Investment Group had a net margin of 13.92% and a return on equity of 7,606.72%. The company had revenue of $123.10 million for the quarter, compared to analyst estimates of $114.95 million. During the same period in the prior year, the business posted $0.45 earnings per share.

BrightSphere Investment Group Stock Performance

BSIG stock traded up $1.04 during trading on Friday, hitting $27.43. The stock had a trading volume of 158,687 shares, compared to its average volume of 187,887. BrightSphere Investment Group has a 1-year low of $15.23 and a 1-year high of $27.58. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 16.62 and a beta of 1.41. The company’s 50 day moving average price is $25.00 and its two-hundred day moving average price is $23.70.

BrightSphere Investment Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date is Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio is presently 2.42%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BSIG shares. Morgan Stanley cut BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $23.00 to $26.00 in a report on Friday, October 18th. Royal Bank of Canada raised their price target on BrightSphere Investment Group from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday. Finally, StockNews.com upgraded shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a report on Friday.

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.