BrightSphere Investment Group (NYSE:BSIG) Sets New 1-Year High – Should You Buy?

BrightSphere Investment Group Inc. (NYSE:BSIG)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $30.38 and last traded at $30.38, with a volume of 4948 shares traded. The stock had previously closed at $30.12.

Analyst Ratings Changes

Several research firms have issued reports on BSIG. Evercore ISI boosted their price objective on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley downgraded BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $23.00 to $26.00 in a research note on Friday, October 18th. Finally, Royal Bank of Canada boosted their price objective on BrightSphere Investment Group from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, BrightSphere Investment Group presently has a consensus rating of “Hold” and an average price target of $29.00.

BrightSphere Investment Group Stock Down 0.3 %

The stock has a market cap of $1.11 billion, a P/E ratio of 18.25 and a beta of 1.41. The firm’s 50-day moving average is $25.60 and its two-hundred day moving average is $23.96.

BrightSphere Investment Group (NYSE:BSIG) last posted its earnings results on Thursday, October 31st. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The business had revenue of $123.10 million for the quarter, compared to analysts’ expectations of $114.95 million. BrightSphere Investment Group had a net margin of 13.92% and a return on equity of 7,606.72%. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Analysts anticipate that BrightSphere Investment Group Inc. will post 2.59 earnings per share for the current fiscal year.

BrightSphere Investment Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio (DPR) is currently 2.42%.

Institutional Trading of BrightSphere Investment Group

Large investors have recently bought and sold shares of the business. Texas Permanent School Fund Corp raised its holdings in shares of BrightSphere Investment Group by 3.4% in the first quarter. Texas Permanent School Fund Corp now owns 28,335 shares of the company’s stock valued at $647,000 after purchasing an additional 924 shares during the last quarter. Creative Planning boosted its position in BrightSphere Investment Group by 7.6% during the second quarter. Creative Planning now owns 17,553 shares of the company’s stock worth $389,000 after purchasing an additional 1,235 shares during the period. Gladius Capital Management LP bought a new position in shares of BrightSphere Investment Group in the second quarter valued at about $32,000. Assenagon Asset Management S.A. grew its stake in BrightSphere Investment Group by 3.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 55,574 shares of the company’s stock valued at $1,412,000 after buying an additional 1,805 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC increased its stake in shares of BrightSphere Investment Group by 9.9% during the second 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 during the period. 98.69% of the stock is owned by 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.