BrightSphere Investment Group Inc. (BSIG) To Go Ex-Dividend on December 13th

BrightSphere Investment Group Inc. (NYSE:BSIG) declared a quarterly dividend on Tuesday, October 29th,Wall Street Journal reports. Stockholders 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 dividend yield of 0.13%. The ex-dividend date of this dividend is Friday, December 13th.

BrightSphere Investment Group has decreased its dividend by an average of 32.5% annually over the last three years. BrightSphere Investment Group has a payout ratio of 1.4% indicating that 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 Stock Performance

Shares of NYSE BSIG traded up $0.46 during trading on Wednesday, hitting $30.83. 19,362 shares of the company traded hands, compared to its average volume of 251,871. The business’s fifty day moving average is $28.13 and its 200 day moving average is $25.14. BrightSphere Investment Group has a fifty-two week low of $18.09 and a fifty-two week high of $31.52. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 18.42 and a beta of 1.45.

BrightSphere Investment Group (NYSE:BSIG) last posted its earnings results on Thursday, October 31st. The company reported $0.59 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $0.45 earnings per share. On average, analysts predict that BrightSphere Investment Group will post 2.59 EPS for the current year.

Wall Street Analyst Weigh In

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