BrightSphere Investment Group (NYSE:BSIG) Hits New 12-Month High at $22.00


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BrightSphere Investment Group Inc. (NYSE:BSIG)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $22.00 and last traded at $21.43, with a volume of 4221 shares traded. The stock had previously closed at $20.37.

BSIG has been the subject of several research analyst reports. Zacks Investment Research upgraded BrightSphere Investment Group from a “sell” rating to a “hold” rating in a research report on Wednesday. Credit Suisse Group decreased their target price on BrightSphere Investment Group from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, February 5th. Finally, Morgan Stanley upgraded BrightSphere Investment Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $21.00 to $30.00 in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $22.00.

The firm has a fifty day moving average of $19.57 and a two-hundred day moving average of $18.03. The stock has a market capitalization of $1.70 billion, a P/E ratio of 11.57, a P/E/G ratio of 3.23 and a beta of 1.86.

BrightSphere Investment Group (NYSE:BSIG) last posted its earnings results on Wednesday, February 3rd. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. BrightSphere Investment Group had a return on equity of 80.30% and a net margin of 20.95%. The company had revenue of $178.80 million for the quarter. As a group, equities research analysts anticipate that BrightSphere Investment Group Inc. will post 1.72 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 26th. Shareholders of record on Friday, March 12th were paid a $0.01 dividend. The ex-dividend date was Thursday, March 11th. This represents a $0.04 annualized dividend and a yield of 0.19%. BrightSphere Investment Group’s dividend payout ratio (DPR) is presently 2.26%.

In other news, insider Richard Jonathan Hart sold 2,679 shares of the business’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $20.41, for a total transaction of $54,678.39. 25.80% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in shares of BrightSphere Investment Group during the third quarter worth about $32,000. Public Employees Retirement System of Ohio lifted its holdings in shares of BrightSphere Investment Group by 31.5% during the third quarter. Public Employees Retirement System of Ohio now owns 2,932 shares of the company’s stock worth $38,000 after purchasing an additional 703 shares during the period. Vantage Consulting Group Inc acquired a new stake in shares of BrightSphere Investment Group during the fourth quarter worth about $57,000. SG Americas Securities LLC acquired a new stake in shares of BrightSphere Investment Group during the fourth quarter worth about $104,000. Finally, Trexquant Investment LP acquired a new stake in shares of BrightSphere Investment Group during the fourth quarter worth about $198,000. Institutional investors and hedge funds own 99.22% of the company’s stock.

BrightSphere Investment Group Company Profile (NYSE:BSIG)

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.

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