BrightSphere Investment Group (NYSE:BSIG) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

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

BrightSphere Investment Group Trading Up 3.9 %

Shares of BrightSphere Investment Group stock traded up $1.04 during trading on Friday, reaching $27.43. The stock had a trading volume of 158,687 shares, compared to its average volume of 187,887. The company 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 has a 52 week low of $15.23 and a 52 week high of $27.58. The stock has a fifty day moving average price of $25.00 and a two-hundred day moving average price of $23.70.

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 paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date is Friday, December 13th. BrightSphere Investment Group’s payout ratio is presently 2.42%.

Analyst Ratings Changes

BSIG has been the topic of several recent research reports. Royal Bank of Canada raised their target price on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday. StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Morgan Stanley downgraded BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and increased their price target for the company from $23.00 to $26.00 in a research note on Friday, October 18th.

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.