BrightSphere Investment Group (NYSE:BSIG) Sets New 52-Week High After Analyst Upgrade

BrightSphere Investment Group Inc. (NYSE:BSIG)’s share price reached a new 52-week high on Monday after Royal Bank of Canada raised their price target on the stock from $26.00 to $28.00. Royal Bank of Canada currently has an outperform rating on the stock. BrightSphere Investment Group traded as high as $26.60 and last traded at $26.58, with a volume of 24644 shares trading hands. The stock had previously closed at $26.04.

Separately, StockNews.com cut shares of BrightSphere Investment Group from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd.

Institutional Investors Weigh In On BrightSphere Investment Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Gladius Capital Management LP bought a new stake in shares of BrightSphere Investment Group during the 2nd quarter valued at approximately $32,000. 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 during the last quarter. Quest Partners LLC bought a new stake in BrightSphere Investment Group during the 2nd quarter worth approximately $147,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in BrightSphere Investment Group by 67.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock worth $195,000 after acquiring an additional 3,561 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new stake in BrightSphere Investment Group during the 1st quarter worth approximately $214,000. 98.69% of the stock is owned by institutional investors.

BrightSphere Investment Group Stock Performance

The stock has a market capitalization of $1.00 billion, a P/E ratio of 16.22 and a beta of 1.41. The stock’s fifty day simple moving average is $23.98 and its two-hundred day simple moving average is $23.34.

BrightSphere Investment Group (NYSE:BSIG) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $109.00 million for the quarter, compared to the consensus estimate of $104.72 million. BrightSphere Investment Group had a net margin of 15.00% and a return on equity of 871.33%. During the same quarter in the previous year, the company earned $0.28 EPS. As a group, analysts expect that BrightSphere Investment Group Inc. will post 2.31 earnings per share for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.01 per share. The ex-dividend date was Friday, September 13th. This represents a $0.04 annualized dividend and a yield of 0.15%. BrightSphere Investment Group’s payout ratio is 2.44%.

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.