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


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

A number of research analysts have commented on BSIG shares. Morgan Stanley raised shares of BrightSphere Investment Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $21.00 to $30.00 in a research report on Thursday. Zacks Investment Research raised shares of BrightSphere Investment Group from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Credit Suisse Group decreased their target price on shares of BrightSphere Investment Group from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, February 5th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. BrightSphere Investment Group presently has a consensus rating of “Buy” and an average target price of $22.00.

The company has a market capitalization of $1.70 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 3.23 and a beta of 1.86. The stock’s 50 day simple moving average is $19.57 and its 200-day simple moving average is $18.03.

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

The company also recently announced a quarterly dividend, which was paid on Friday, March 26th. Investors of record on Friday, March 12th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, March 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. BrightSphere Investment Group’s payout ratio is 2.26%.

In related news, insider Richard Jonathan Hart sold 2,679 shares of the company’s stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $20.41, for a total transaction of $54,678.39. 25.80% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Azora Capital LP increased its stake in shares of BrightSphere Investment Group by 151.2% during the fourth quarter. Azora Capital LP now owns 2,134,548 shares of the company’s stock worth $41,154,000 after buying an additional 1,284,893 shares during the period. Schonfeld Strategic Advisors LLC boosted its holdings in BrightSphere Investment Group by 84.6% in the third quarter. Schonfeld Strategic Advisors LLC now owns 1,729,951 shares of the company’s stock valued at $22,317,000 after purchasing an additional 792,917 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in BrightSphere Investment Group by 39.6% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,544,296 shares of the company’s stock valued at $29,775,000 after purchasing an additional 438,380 shares in the last quarter. Norges Bank acquired a new position in BrightSphere Investment Group in the fourth quarter valued at approximately $20,274,000. Finally, Morgan Stanley boosted its holdings in BrightSphere Investment Group by 320.2% in the fourth quarter. Morgan Stanley now owns 911,479 shares of the company’s stock valued at $17,573,000 after purchasing an additional 694,555 shares in the last quarter. Hedge funds and other institutional investors 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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