The share price of BrightSphere Investment Group Inc. (NYSE:BSIG – Get Rating ) hit a new 52-week low on Friday. The stock traded as high as $17.61 and last traded at $17.61, with a volume of 6,349 shares trading hands. The stock previously closed at $17.99.
BSIG has been the subject of several research reports. Morgan Stanley decreased their price objective on shares of BrightSphere Investment Group from $25.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 30th. StockNews.com initiated coverage on shares of BrightSphere Investment Group in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. BrightSphere Investment Group has a consensus rating of “Hold” and a consensus target price of $27.50, according to MarketBeat.com.
The company’s 50-day moving average is $19.51 and its 200-day moving average is $22.13. The company has a market cap of $732.31 million, a price-to-earnings ratio of 1.73 and a beta of 1.64.
BrightSphere Investment Group (NYSE:BSIG – Get Rating ) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.44 by $0.08. BrightSphere Investment Group had a net margin of 156.79% and a return on equity of 26.02%. The company had revenue of $112.20 million for the quarter, compared to analyst estimates of $106.14 million. Analysts predict that BrightSphere Investment Group Inc. will report 2.4 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, June 10th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, June 9th. This represents a $0.04 annual dividend and a dividend yield of 0.23%. BrightSphere Investment Group’s dividend payout ratio (DPR) is 0.39%.
A number of large investors have recently bought and sold shares of the stock. Jennison Associates LLC boosted its stake in BrightSphere Investment Group by 2.4% in the first quarter. Jennison Associates LLC now owns 2,039,755 shares of the company’s stock valued at $49,464,000 after buying an additional 47,575 shares in the last quarter. Empyrean Capital Partners LP acquired a new position in BrightSphere Investment Group in the first quarter valued at $41,968,000. Impax Asset Management Group plc boosted its stake in BrightSphere Investment Group by 26.7% during the 4th quarter. Impax Asset Management Group plc now owns 823,745 shares of the company’s stock valued at $21,088,000 after buying an additional 173,745 shares in the last quarter. Bank of America Corp DE boosted its stake in BrightSphere Investment Group by 68.1% in the 4th quarter. Bank of America Corp DE now owns 798,214 shares of the company’s stock valued at $20,434,000 after buying an additional 323,442 shares during the last quarter. Finally, Invesco Ltd. raised its stake in BrightSphere Investment Group by 17.6% during the 4th quarter. Invesco Ltd. now owns 665,599 shares of the company’s stock valued at $17,039,000 after buying an additional 99,427 shares in the last quarter. Institutional investors and hedge funds own 98.74% of the company’s shares.
BrightSphere Investment Group Company Profile (NYSE: BSIG)
BrightSphere Investment Group Inc is a public asset management holding company. The company provides its services to individuals and institutions. It manages individual client-focused portfolios through its subsidiaries. The firm also launched equity mutual funds for its clients. It invests in public equity, fixed income and alternative investment markets through its subsidiaries.
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