BrightSphere Investment Group (NYSE:BSIG) Reaches New 12-Month High – Should You Buy?

BrightSphere Investment Group Inc. (NYSE:BSIG) reached a new 52-week high on Thursday . The company traded as high as $27.58 and last traded at $27.11, with a volume of 3367 shares. The stock had previously closed at $26.37.

Wall Street Analyst Weigh In

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

BrightSphere Investment Group Stock Up 3.9 %

The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 16.62 and a beta of 1.41. The business’s 50-day moving average is $25.00 and its two-hundred day moving average is $23.69.

BrightSphere Investment Group (NYSE:BSIG) last issued its earnings results on Thursday, August 1st. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. BrightSphere Investment Group had a return on equity of 871.33% and a net margin of 15.00%. The business had revenue of $109.00 million for the quarter, compared to analysts’ expectations of $104.72 million. During the same period in the previous year, the firm posted $0.28 EPS. As a group, analysts forecast that BrightSphere Investment Group Inc. will post 2.4 EPS for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Friday, December 13th. BrightSphere Investment Group’s dividend payout ratio is presently 2.42%.

Hedge Funds Weigh In On BrightSphere Investment Group

Hedge funds have recently made changes to their positions in the stock. Gladius Capital Management LP acquired a new position in BrightSphere Investment Group during the second quarter worth $32,000. Blue Trust Inc. raised its holdings in shares of BrightSphere Investment Group by 2,397.6% in the 3rd quarter. Blue Trust Inc. now owns 3,122 shares of the company’s stock valued at $79,000 after buying an additional 2,997 shares during the period. PNC Financial Services Group Inc. lifted its stake in BrightSphere Investment Group by 29.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,885 shares of the company’s stock worth $94,000 after acquiring an additional 1,106 shares in the last quarter. Quest Partners LLC purchased a new position in BrightSphere Investment Group during the 2nd quarter valued at about $147,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in BrightSphere Investment Group by 67.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,802 shares of the company’s stock valued at $195,000 after acquiring an additional 3,561 shares in the last quarter. Hedge funds and other institutional investors 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.