BrightSphere Investment Group (NYSE:BSIG) Hits New 12-Month High at $23.63

BrightSphere Investment Group Inc. (NYSE:BSIG)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $23.63 and last traded at $23.56, with a volume of 24627 shares trading hands. The stock had previously closed at $22.79.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a report on Friday, May 3rd.

BrightSphere Investment Group Stock Up 3.1 %

The business has a 50-day simple moving average of $22.46 and a 200-day simple moving average of $21.96. The company has a market cap of $887.08 million, a PE ratio of 14.00 and a beta of 1.45.

BrightSphere Investment Group (NYSE:BSIG) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.10. BrightSphere Investment Group had a return on equity of 438.16% and a net margin of 15.53%. The business had revenue of $105.70 million during the quarter, compared to analysts’ expectations of $101.32 million. As a group, equities research analysts predict that BrightSphere Investment Group Inc. will post 2.22 EPS for the current fiscal year.

BrightSphere Investment Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.17%. BrightSphere Investment Group’s payout ratio is presently 2.44%.

Institutional Investors Weigh In On BrightSphere Investment Group

Institutional investors have recently modified their holdings of the company. Texas Permanent School Fund Corp grew its stake in BrightSphere Investment Group by 3.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 28,335 shares of the company’s stock worth $647,000 after purchasing an additional 924 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in BrightSphere Investment Group by 29.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,885 shares of the company’s stock worth $94,000 after purchasing an additional 1,106 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in BrightSphere Investment Group by 6.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 20,134 shares of the company’s stock worth $386,000 after purchasing an additional 1,249 shares in the last quarter. Linden Thomas Advisory Services LLC grew its stake in BrightSphere Investment Group by 9.9% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 20,960 shares of the company’s stock worth $465,000 after purchasing an additional 1,889 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in BrightSphere Investment Group by 8.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 29,326 shares of the company’s stock worth $670,000 after purchasing an additional 2,213 shares in the last quarter. 98.69% of the stock is owned by institutional investors and hedge funds.

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.