BrightSphere Investment Group Inc. (NYSE:BSIG - Get Free Report) declared a quarterly dividend on Friday, November 1st, 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 0.15%. The ex-dividend date of this dividend is Friday, December 13th.
BrightSphere Investment Group has decreased its dividend payment by an average of 32.5% per year over the last three years. BrightSphere Investment Group has a payout ratio of 1.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect BrightSphere Investment Group to earn $2.68 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 1.5%.
Shares of BSIG stock traded up $1.04 during trading hours on Friday, hitting $27.43. 158,687 shares of the company's stock were exchanged, compared to its average volume of 258,742. The firm has a market cap of $1.02 billion, a P/E ratio of 16.35 and a beta of 1.41. The firm has a 50 day moving average of $24.92 and a two-hundred day moving average of $23.66. BrightSphere Investment Group has a fifty-two week low of $15.23 and a fifty-two week high of $27.58.
BrightSphere Investment Group (NYSE:BSIG - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.45 EPS 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 firm had revenue of $109.00 million during the quarter, compared to analysts' expectations of $104.72 million. During the same period in the previous year, the business earned $0.28 earnings per share. On average, equities analysts forecast that BrightSphere Investment Group will post 2.4 earnings per share for the current fiscal year.
Several analysts recently commented on the company. Morgan Stanley cut BrightSphere Investment Group from an "equal weight" rating to an "underweight" rating and boosted their price target for the stock from $23.00 to $26.00 in a research report on Friday, October 18th. StockNews.com cut BrightSphere Investment Group from a "buy" rating to a "hold" rating in a research report on Monday, July 22nd. Finally, Royal Bank of Canada boosted their price target on BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Friday.
Read Our Latest Analysis on 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.
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