BrightSphere Investment Group Inc. (NYSE:BSIG) Plans $0.01 Quarterly Dividend

BrightSphere Investment Group Inc. (NYSE:BSIG) announced a quarterly dividend on Tuesday, July 30th, Wall Street Journal reports. Shareholders of record on Friday, September 13th will be given a dividend of 0.01 per share on Friday, September 27th. This represents a $0.04 annualized dividend and a yield of 0.17%. The ex-dividend date is Friday, September 13th.

BrightSphere Investment Group has decreased its dividend payment by an average of 32.5% annually over the last three years. BrightSphere Investment Group has a payout ratio of 1.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect BrightSphere Investment Group to earn $2.51 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

BSIG stock opened at $23.36 on Thursday. BrightSphere Investment Group has a 1-year low of $15.23 and a 1-year high of $26.57. The business’s 50 day simple moving average is $23.71 and its 200 day simple moving average is $22.98. The firm has a market capitalization of $865.96 million, a PE ratio of 14.24 and a beta of 1.42.

BrightSphere Investment Group (NYSE:BSIG) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. The firm had revenue of $109.00 million for the quarter, compared to the consensus estimate 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. As a group, sell-side analysts predict that BrightSphere Investment Group will post 2.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of BrightSphere Investment Group from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd.

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.