BrightSphere Investment Group Inc. (NYSE:BSIG) Announces $0.01 Quarterly Dividend

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BrightSphere Investment Group Inc. (NYSE:BSIGGet Rating) announced a quarterly dividend on Friday, May 6th, Wall Street Journal reports. Stockholders of record on Friday, June 10th will be given a dividend of 0.01 per share on Friday, June 24th. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Thursday, June 9th.

BrightSphere Investment Group has decreased its dividend payment by an average of 53.2% per year over the last three years. BrightSphere Investment Group has a payout ratio of 1.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect BrightSphere Investment Group to earn $2.68 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 1.5%.

BSIG opened at $20.25 on Friday. The business has a 50 day simple moving average of $22.96 and a 200-day simple moving average of $23.90. The stock has a market capitalization of $838.76 million, a P/E ratio of 1.98 and a beta of 1.65. BrightSphere Investment Group has a 12 month low of $19.65 and a 12 month high of $31.17.

BrightSphere Investment Group (NYSE:BSIGGet Rating) last issued its quarterly earnings data on Thursday, February 3rd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.12. The firm had revenue of $162.90 million during the quarter, compared to analysts’ expectations of $117.07 million. BrightSphere Investment Group had a return on equity of 21.01% and a net margin of 151.92%. As a group, sell-side analysts expect that BrightSphere Investment Group will post 2.4 EPS for the current fiscal year.

A number of research firms have recently weighed in on BSIG. Morgan Stanley cut their price target on BrightSphere Investment Group from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Friday, April 8th. StockNews.com began coverage on BrightSphere Investment Group in a report on Thursday, March 31st. They issued a “hold” rating for the company. TheStreet cut BrightSphere Investment Group from a “b” rating to a “c” rating in a report on Thursday, February 3rd. Finally, Zacks Investment Research raised BrightSphere Investment Group from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a report on Tuesday, April 12th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, BrightSphere Investment Group presently has an average rating of “Buy” and an average price target of $28.40.

In other news, CEO Suren Rana sold 119,963 shares of the company’s stock in a transaction dated Tuesday, February 8th. The stock was sold at an average price of $24.05, for a total value of $2,885,110.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 27.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of BSIG. Morgan Stanley lifted its stake in shares of BrightSphere Investment Group by 95.2% in the second quarter. Morgan Stanley now owns 751,747 shares of the company’s stock worth $17,613,000 after acquiring an additional 366,581 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of BrightSphere Investment Group by 1.4% in the third quarter. Bank of New York Mellon Corp now owns 647,418 shares of the company’s stock worth $16,917,000 after acquiring an additional 8,910 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of BrightSphere Investment Group by 27.6% in the fourth quarter. Wells Fargo & Company MN now owns 94,219 shares of the company’s stock worth $2,412,000 after acquiring an additional 20,366 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of BrightSphere Investment Group by 4.7% in the fourth quarter. Deutsche Bank AG now owns 37,987 shares of the company’s stock worth $973,000 after acquiring an additional 1,691 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of BrightSphere Investment Group in the fourth quarter worth about $208,000. 98.74% of the stock is owned by institutional investors.

BrightSphere Investment Group Company Profile (Get Rating)

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.

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