BrightSphere Investment Group (NYSE:BSIG) Announces Earnings Results

BrightSphere Investment Group (NYSE:BSIG) issued its earnings results on Thursday. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07, Zacks reports. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. The company had revenue of $123.10 million for the quarter, compared to analyst estimates of $114.95 million. During the same period in the prior year, the firm posted $0.45 EPS.

BrightSphere Investment Group Stock Up 3.9 %

BSIG stock traded up $1.04 during midday trading on Friday, hitting $27.43. 158,687 shares of the company traded hands, compared to its average volume of 187,887. The business has a 50 day simple moving average of $25.00 and a 200-day simple moving average of $23.70. BrightSphere Investment Group has a twelve month low of $15.23 and a twelve month high of $27.58. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 16.62 and a beta of 1.41.

BrightSphere Investment Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.04 annualized dividend and a yield of 0.15%. BrightSphere Investment Group’s dividend payout ratio (DPR) is currently 2.42%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BSIG shares. Morgan Stanley cut BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $23.00 to $26.00 in a research note on Friday, October 18th. Royal Bank of Canada boosted their target price on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, StockNews.com upgraded shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Friday.

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.