BrightSphere Investment Group (NYSE:BSIG) Hits New 1-Year High at $23.63

BrightSphere Investment Group Inc. (NYSE:BSIG - Get Free Report) reached a new 52-week high during mid-day trading 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 brokerages recently issued reports on BSIG. TheStreet upgraded shares of BrightSphere Investment Group from a "d+" rating to a "c-" rating in a research note on Thursday, January 25th. Morgan Stanley increased their price target on BrightSphere Investment Group from $20.00 to $22.00 and gave the company an "equal weight" rating in a research note on Friday, January 19th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $24.00 price objective on shares of BrightSphere Investment Group in a report on Friday, February 2nd.

BrightSphere Investment Group Stock Up 0.9 %

The company's fifty day moving average price is $22.61 and its 200 day moving average price is $20.02. The company has a market capitalization of $898.13 million, a P/E ratio of 15.16 and a beta of 1.49.

BrightSphere Investment Group (NYSE:BSIG - Get Free Report) last issued its quarterly 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. The company had revenue of $131.20 million for the quarter, compared to analyst estimates of $127.57 million. BrightSphere Investment Group had a net margin of 15.42% and a return on equity of 400.00%. Research analysts predict that BrightSphere Investment Group Inc. will post 2.18 earnings per share for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

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 $0.01 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.17%. BrightSphere Investment Group's dividend payout ratio (DPR) is presently 2.58%.

Insider Transactions at BrightSphere Investment Group

In related news, CEO Suren Rana sold 109,960 shares of the company's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $20.74, for a total value of $2,280,570.40. Following 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 Securities & Exchange Commission, which is accessible through this hyperlink. 24.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BrightSphere Investment Group

Several hedge funds and other institutional investors have recently bought and sold shares of BSIG. Swiss National Bank lifted its stake in shares of BrightSphere Investment Group by 1.0% in the 3rd quarter. Swiss National Bank now owns 72,926 shares of the company's stock valued at $1,414,000 after purchasing an additional 700 shares during the period. Aurora Investment Counsel lifted its stake in BrightSphere Investment Group by 1.5% in the third quarter. Aurora Investment Counsel now owns 62,473 shares of the company's stock valued at $1,211,000 after buying an additional 899 shares during the period. PNC Financial Services Group Inc. lifted its stake in BrightSphere Investment Group by 29.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,885 shares of the company's stock valued at $94,000 after buying an additional 1,106 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of BrightSphere Investment Group by 6.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 20,134 shares of the company's stock worth $386,000 after buying an additional 1,249 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in shares of 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 buying an additional 1,383 shares during the period. 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.