BrightSphere Investment Group (NYSE:BSIG) Sets New 1-Year High Following Analyst Upgrade

BrightSphere Investment Group Inc. (NYSE:BSIG) reached a new 52-week high 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 downgraded BrightSphere Investment Group from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd.

Institutional Investors Weigh In On BrightSphere Investment Group

Several institutional investors have recently modified their holdings of the company. Jennison Associates LLC raised its stake 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 in the last quarter. Renaissance Technologies LLC raised its position in shares of BrightSphere Investment Group by 297.9% during the 2nd quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock worth $3,414,000 after acquiring an additional 115,300 shares in the last quarter. Marshall Wace LLP purchased a new stake in BrightSphere Investment Group during the second quarter worth approximately $1,870,000. Denali Advisors LLC boosted 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 purchasing an additional 78,347 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in BrightSphere Investment Group in the first quarter valued at approximately $1,292,000. 98.69% of the stock is owned by hedge funds and other institutional investors.

BrightSphere Investment Group Stock Up 2.1 %

The business’s fifty day simple moving average is $23.90 and its two-hundred day simple moving average is $23.31. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 15.88 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $109.00 million during the quarter, compared to analysts’ expectations 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 previous year, the company earned $0.28 earnings per share. Sell-side analysts predict that BrightSphere Investment Group Inc. will post 2.31 EPS for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.01 per share. The ex-dividend date was Friday, September 13th. This represents a $0.04 dividend on an annualized basis and a dividend 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.