BrightSphere Investment Group (NYSE:BSIG) Sets New 52-Week High – Here’s What Happened

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Morgan Stanley downgraded BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $23.00 to $26.00 in a research note on Friday, October 18th. StockNews.com raised BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Royal Bank of Canada upped their price objective on BrightSphere Investment Group from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Evercore ISI upped their price objective on 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 research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.00.

BrightSphere Investment Group Price Performance

The company has a fifty day moving average of $26.51 and a 200 day moving average of $24.31. The firm has a market capitalization of $1.14 billion, a P/E ratio of 18.29 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last announced its earnings results on Thursday, October 31st. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.52 by $0.07. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. The business had revenue of $123.10 million for the quarter, compared to analysts’ expectations of $114.95 million. During the same period in the prior year, the business posted $0.45 earnings per share. On average, sell-side analysts forecast that BrightSphere Investment Group Inc. will post 2.59 EPS for the current year.

BrightSphere Investment Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date is Friday, December 13th. BrightSphere Investment Group’s payout ratio is 2.42%.

Hedge Funds Weigh In On BrightSphere Investment Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Azora Capital LP lifted its holdings in shares of BrightSphere Investment Group by 10.7% in the 3rd quarter. Azora Capital LP now owns 2,028,358 shares of the company’s stock worth $51,520,000 after purchasing an additional 195,728 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of BrightSphere Investment Group by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,126,772 shares of the company’s stock worth $24,980,000 after purchasing an additional 4,399 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in shares of BrightSphere Investment Group by 4.8% in the 3rd 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 in the last quarter. Jennison Associates LLC lifted its holdings 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 worth $24,611,000 after purchasing an additional 195,417 shares in the last quarter. Finally, Denali Advisors LLC lifted 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 worth $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.

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.