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 trading on Tuesday . The company traded as high as $23.63 and last traded at $23.45, with a volume of 18544 shares. The stock had previously closed at $23.30.

Analyst Upgrades and Downgrades

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

BrightSphere Investment Group Stock Up 1.0 %

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

BrightSphere Investment Group (NYSE:BSIG) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.77 earnings per share 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 business had revenue of $131.20 million for the quarter, compared to analysts’ expectations of $127.57 million. Equities research analysts anticipate that BrightSphere Investment Group Inc. will post 2.18 EPS for the current year.

BrightSphere Investment Group Dividend Announcement

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

Insider Buying and Selling at BrightSphere Investment Group

In other BrightSphere Investment Group news, CEO Suren Rana sold 109,960 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 130,967 shares in the company, valued at $2,716,255.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 24.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of BrightSphere Investment Group in the third quarter valued at approximately $304,000. Exchange Traded Concepts LLC increased its holdings in BrightSphere Investment Group by 11.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 18,885 shares of the company’s stock worth $366,000 after acquiring an additional 1,933 shares during the period. Denali Advisors LLC increased its holdings in BrightSphere Investment Group by 116,087.0% during the 3rd quarter. Denali Advisors LLC now owns 53,446 shares of the company’s stock worth $1,036,000 after acquiring an additional 53,400 shares during the period. Linden Thomas Advisory Services LLC bought a new stake in BrightSphere Investment Group during the 3rd quarter worth approximately $202,000. Finally, Bank of New York Mellon Corp increased its holdings in BrightSphere Investment Group by 7.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 360,441 shares of the company’s stock worth $6,989,000 after acquiring an additional 24,599 shares during the period. 98.69% of the stock is currently owned by hedge funds and other institutional investors.

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.