BrightSphere Investment Group Inc. (BSIG) to Issue Quarterly Dividend of $0.01 on June 28th

BrightSphere Investment Group Inc. (NYSE:BSIG) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Shareholders of record on Friday, June 14th will be paid a dividend of 0.01 per share on Friday, June 28th. This represents a $0.04 annualized dividend and a yield of 0.18%. The ex-dividend date is Friday, June 14th.

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 dividend payout ratio of 1.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect BrightSphere Investment Group to earn $2.49 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 1.6%.

BrightSphere Investment Group Stock Performance

NYSE BSIG traded down $0.06 during trading hours on Friday, hitting $22.56. 180,642 shares of the company’s stock were exchanged, compared to its average volume of 169,261. The business’s 50 day moving average is $22.70 and its 200-day moving average is $20.26. BrightSphere Investment Group has a 12-month low of $15.23 and a 12-month high of $23.63. The firm has a market capitalization of $854.12 million, a P/E ratio of 13.76 and a beta of 1.47.

BrightSphere Investment Group (NYSE:BSIG) last released its earnings results on Thursday, February 1st. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.19. The firm had revenue of $131.20 million during the quarter, compared to the consensus estimate of $127.57 million. BrightSphere Investment Group had a net margin of 15.53% and a return on equity of 438.16%. As a group, equities research analysts anticipate that BrightSphere Investment Group will post 2.18 EPS for the current fiscal year.

Insider Transactions at BrightSphere Investment Group

In other BrightSphere Investment Group news, CEO Suren Rana sold 109,960 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $20.74, for a total value of $2,280,570.40. Following the completion of the sale, the chief executive officer now owns 130,967 shares of the company’s stock, valued at $2,716,255.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 24.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. TheStreet upgraded BrightSphere Investment Group from a “d+” rating to a “c-” rating in a report on Thursday, January 25th. Royal Bank of Canada restated an “outperform” rating and issued a $24.00 price objective on shares of BrightSphere Investment Group in a report on Friday, February 2nd. Morgan Stanley boosted their target price on BrightSphere Investment Group from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, January 19th. Finally, StockNews.com upgraded shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note 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.