BrightSphere Investment Group (NYSE:BSIG) Sets New 1-Year High at $23.63

BrightSphere Investment Group Inc. (NYSE:BSIG)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $23.63 and last traded at $23.45, with a volume of 18544 shares traded. The stock had previously closed at $23.30.

Wall Street Analysts Forecast Growth

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

BrightSphere Investment Group Price Performance

The company’s 50 day moving average is $22.57 and its two-hundred day moving average is $19.99. The firm has a market cap of $899.46 million, a P/E ratio of 15.18 and a beta of 1.49.

BrightSphere Investment Group (NYSE:BSIG) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.19. BrightSphere Investment Group had a net margin of 15.42% and a return on equity of 400.00%. The firm had revenue of $131.20 million during the quarter, compared to analyst estimates of $127.57 million. Research analysts predict that BrightSphere Investment Group Inc. will post 2.18 EPS for the current year.

BrightSphere Investment Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend was Thursday, March 14th. BrightSphere Investment Group’s dividend payout ratio (DPR) is presently 2.58%.

Insider Buying and Selling

In other news, CEO Suren Rana sold 109,960 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $20.74, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 24.90% of the company’s stock.

Institutional Trading of BrightSphere Investment Group

Several hedge funds have recently modified their holdings of the company. Swiss National Bank increased its holdings in shares of BrightSphere Investment Group by 1.0% in the third quarter. Swiss National Bank now owns 72,926 shares of the company’s stock valued at $1,414,000 after purchasing an additional 700 shares in the last quarter. Aurora Investment Counsel boosted its stake in BrightSphere Investment Group by 1.5% in the third quarter. Aurora Investment Counsel now owns 62,473 shares of the company’s stock valued at $1,211,000 after acquiring an additional 899 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in BrightSphere Investment Group by 29.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,885 shares of the company’s stock valued at $94,000 after acquiring an additional 1,106 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in BrightSphere Investment Group by 6.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 20,134 shares of the company’s stock valued at $386,000 after acquiring an additional 1,249 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in BrightSphere Investment Group by 16.3% in the third quarter. Federated Hermes Inc. now owns 9,846 shares of the company’s stock valued at $191,000 after acquiring an additional 1,383 shares during the last quarter. Institutional investors and hedge funds own 98.69% of the company’s stock.

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.