BrightSphere Investment Group (NYSE:BSIG) Releases Quarterly Earnings Results

BrightSphere Investment Group (NYSE:BSIG - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.07, Zacks reports. The business 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.

BrightSphere Investment Group Stock Up 3.9 %

BSIG stock opened at $27.43 on Friday. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 16.62 and a beta of 1.41. The business has a fifty day simple moving average of $25.00 and a 200-day simple moving average of $23.70. BrightSphere Investment Group has a 52 week low of $15.23 and a 52 week high of $27.58.

BrightSphere Investment Group Announces Dividend

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Royal Bank of Canada lifted their target price on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Friday. StockNews.com raised BrightSphere Investment Group from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Morgan Stanley lowered BrightSphere Investment Group from an "equal weight" rating to an "underweight" rating and raised their price target for the stock from $23.00 to $26.00 in a research note on Friday, October 18th.

Check Out Our Latest Analysis on BrightSphere Investment Group

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.

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