BrightSphere Investment Group (NYSE:BSIG) Hits New 1-Year High – Time to Buy?

BrightSphere Investment Group Inc. (NYSE:BSIG) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $30.38 and last traded at $30.38, with a volume of 4948 shares. The stock had previously closed at $30.12.

Analysts Set New Price Targets

Several research analysts have recently commented on BSIG shares. Evercore ISI lifted their target price on BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Royal Bank of Canada boosted their price objective on BrightSphere Investment Group from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. StockNews.com upgraded BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley downgraded BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $23.00 to $26.00 in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $29.00.

BrightSphere Investment Group Stock Performance

The firm has a 50 day simple moving average of $25.74 and a two-hundred day simple moving average of $24.01. The stock has a market cap of $1.11 billion, a P/E ratio of 17.96 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $123.10 million for the quarter, compared to the consensus estimate of $114.95 million. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. During the same quarter in the previous year, the business earned $0.45 EPS. As a group, equities research analysts predict that BrightSphere Investment Group Inc. will post 2.59 EPS for the current year.

BrightSphere Investment Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.01 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.13%. BrightSphere Investment Group’s dividend payout ratio (DPR) is presently 2.42%.

Institutional Trading of BrightSphere Investment Group

Several hedge funds and other institutional investors have recently modified their holdings of BSIG. Dimensional Fund Advisors LP raised its holdings in shares of BrightSphere Investment Group by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,126,772 shares of the company’s stock worth $24,980,000 after acquiring an additional 4,399 shares in the last quarter. Impax Asset Management Group plc raised its holdings in BrightSphere Investment Group by 4.8% during the third quarter. Impax Asset Management Group plc now owns 1,098,818 shares of the company’s stock valued at $27,910,000 after buying an additional 50,000 shares in the last quarter. Jennison Associates LLC raised its holdings in BrightSphere Investment Group by 25.3% during the third quarter. Jennison Associates LLC now owns 968,936 shares of the company’s stock valued at $24,611,000 after buying an additional 195,417 shares in the last quarter. Denali Advisors LLC raised its holdings in BrightSphere Investment Group by 1.9% during the second quarter. Denali Advisors LLC now owns 160,000 shares of the company’s stock valued at $3,547,000 after buying an additional 2,909 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in BrightSphere Investment Group by 297.9% during the second quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock valued at $3,414,000 after buying an additional 115,300 shares in the last quarter. Institutional investors and hedge funds own 98.69% of the company’s stock.

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.