BrightSphere Investment Group (NYSE:BSIG) Reaches New 52-Week High at $23.63

BrightSphere Investment Group Inc. (NYSE:BSIG)’s stock price reached a new 52-week high on Tuesday . The stock 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 Analyst Weigh In

Several research firms have recently weighed in on BSIG. Morgan Stanley raised their price target 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. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 price target on shares of BrightSphere Investment Group in a research note on Friday, February 2nd. Finally, TheStreet raised shares of BrightSphere Investment Group from a “d+” rating to a “c-” rating in a research note on Thursday, January 25th.

BrightSphere Investment Group Price Performance

The business’s 50 day simple moving average is $22.65 and its 200 day simple moving average is $20.05. The company has a market capitalization of $881.84 million, a PE ratio of 14.89 and a beta of 1.49.

BrightSphere Investment Group (NYSE:BSIG) last issued its earnings results on Thursday, February 1st. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $131.20 million for the quarter, compared to the consensus estimate of $127.57 million. As a group, analysts anticipate that BrightSphere Investment Group Inc. will post 2.18 EPS for the current year.

BrightSphere Investment Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend was Thursday, March 14th. BrightSphere Investment Group’s dividend payout ratio 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 BrightSphere Investment Group stock in a transaction dated 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 directly owns 130,967 shares in the company, valued at $2,716,255.58. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 24.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its holdings 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 acquiring an additional 1,106 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in BrightSphere Investment Group by 48.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,790 shares of the company’s stock worth $170,000 after acquiring an additional 2,886 shares in the last quarter. Federated Hermes Inc. grew its holdings in BrightSphere Investment Group by 16.3% during the 3rd quarter. Federated Hermes Inc. now owns 9,846 shares of the company’s stock worth $191,000 after acquiring an additional 1,383 shares in the last quarter. Linden Thomas Advisory Services LLC acquired a new position in BrightSphere Investment Group during the 3rd quarter worth approximately $202,000. Finally, New York State Teachers Retirement System grew its holdings in BrightSphere Investment Group by 22.9% during the 3rd quarter. New York State Teachers Retirement System now owns 15,079 shares of the company’s stock worth $292,000 after acquiring an additional 2,813 shares in the last quarter. Institutional investors and hedge funds own 98.69% of the company’s stock.

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.