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

BrightSphere Investment Group Inc. (NYSE:BSIG) announced a quarterly dividend on Tuesday, October 29th,Wall Street Journal reports. Shareholders of record on Friday, December 13th will be paid a dividend of 0.01 per share on Friday, December 27th. This represents a $0.04 annualized dividend and a yield of 0.13%. The ex-dividend date is Friday, December 13th.

BrightSphere Investment Group has decreased its dividend by an average of 32.5% per year over the last three years. BrightSphere Investment Group has a payout ratio of 1.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect BrightSphere Investment Group to earn $2.90 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 1.4%.

BrightSphere Investment Group Trading Up 1.5 %

Shares of BrightSphere Investment Group stock traded up $0.46 on Wednesday, hitting $30.83. 19,362 shares of the company traded hands, compared to its average volume of 251,871. The stock’s 50 day moving average price is $28.13 and its 200-day moving average price is $25.14. BrightSphere Investment Group has a 52 week low of $18.09 and a 52 week high of $31.52. The company has a market cap of $1.15 billion, a PE ratio of 18.42 and a beta of 1.45.

BrightSphere Investment Group (NYSE:BSIG) last issued 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 during the quarter, compared to the consensus estimate of $114.95 million. BrightSphere Investment Group had a net margin of 13.92% and a return on equity of 7,606.72%. During the same quarter in the previous year, the firm posted $0.45 earnings per share. As a group, research analysts anticipate that BrightSphere Investment Group will post 2.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on BSIG. Royal Bank of Canada lowered shares of BrightSphere Investment Group from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $30.00 to $33.00 in a report on Tuesday. StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Evercore ISI lifted their price target on shares of BrightSphere Investment Group from $28.00 to $31.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. BMO Capital Markets reaffirmed a “sector perform” rating and issued a $33.00 price target (up from $30.00) on shares of BrightSphere Investment Group in a report on Tuesday. Finally, Morgan Stanley lowered shares of BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and boosted their price objective for the company from $23.00 to $26.00 in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, BrightSphere Investment Group currently has a consensus rating of “Hold” and an average price target of $30.75.

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.