BrightSphere Investment Group Inc. (NYSE:BSIG) Declares $0.01 Quarterly Dividend

BrightSphere Investment Group Inc. (NYSE:BSIG) announced a quarterly dividend on Tuesday, October 29th,Wall Street Journal reports. Shareholders of record on Friday, December 13th will be paid a dividend of 0.01 per share on Friday, December 27th. This represents a $0.04 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Friday, December 13th.

BrightSphere Investment Group has decreased its dividend payment by an average of 32.5% per year over the last three years. BrightSphere Investment Group has a payout ratio of 1.4% meaning its dividend is sufficiently covered by earnings. Analysts expect BrightSphere Investment Group to earn $2.90 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 1.4%.

BrightSphere Investment Group Stock Performance

BrightSphere Investment Group stock traded up $0.45 during midday trading on Wednesday, hitting $30.82. 35,264 shares of the company were exchanged, compared to its average volume of 251,968. BrightSphere Investment Group has a fifty-two week low of $18.09 and a fifty-two week high of $31.52. The firm has a market capitalization of $1.15 billion, a PE ratio of 18.42 and a beta of 1.45. The business has a fifty day simple moving average of $28.13 and a two-hundred day simple moving average of $25.14.

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, beating analysts’ consensus estimates 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 company had revenue of $123.10 million during the quarter, compared to analysts’ expectations of $114.95 million. During the same quarter in the previous year, the company earned $0.45 earnings per share. As a group, equities analysts expect that BrightSphere Investment Group will post 2.59 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on BSIG. Royal Bank of Canada downgraded BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $30.00 to $33.00 in a research report on Tuesday. Morgan Stanley lowered shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $23.00 to $26.00 in a report on Friday, October 18th. BMO Capital Markets reaffirmed a “sector perform” rating and set a $33.00 price objective (up from $30.00) on shares of BrightSphere Investment Group in a report on Tuesday. StockNews.com upgraded shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Evercore ISI lifted 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, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.75.

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.