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

BrightSphere Investment Group Inc. (NYSE:BSIG) declared a quarterly dividend on Friday, May 3rd, Wall Street Journal reports. Investors of record on Friday, June 14th will be paid a dividend of 0.01 per share on Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date is Friday, June 14th.

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 dividend payout ratio of 1.7% meaning its dividend is sufficiently covered by earnings. Analysts expect BrightSphere Investment Group to earn $2.49 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 1.6%.

BrightSphere Investment Group Trading Down 0.3 %

Shares of BrightSphere Investment Group stock traded down $0.06 during trading on Friday, reaching $22.56. The stock had a trading volume of 180,642 shares, compared to its average volume of 302,332. The company has a market capitalization of $854.12 million, a price-to-earnings ratio of 14.55 and a beta of 1.47. The stock has a fifty day moving average price of $22.70 and a two-hundred day moving average price of $20.23. BrightSphere Investment Group has a 52 week low of $15.23 and a 52 week high of $23.63.

BrightSphere Investment Group (NYSE:BSIG) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.19. BrightSphere Investment Group had a net margin of 15.42% and a return on equity of 400.00%. The company had revenue of $131.20 million for the quarter, compared to the consensus estimate of $127.57 million. On average, equities analysts forecast that BrightSphere Investment Group will post 2.18 EPS for the current fiscal year.

Insider Activity

In other news, CEO Suren Rana sold 109,960 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $20.74, for a total transaction of $2,280,570.40. Following the completion of the sale, the chief executive officer now directly owns 130,967 shares in the company, valued at approximately $2,716,255.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 24.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BSIG shares. StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research note on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $24.00 target price on shares of BrightSphere Investment Group in a research note on Friday, February 2nd. TheStreet raised BrightSphere Investment Group from a “d+” rating to a “c-” rating in a research report on Thursday, January 25th. Finally, Morgan Stanley upped their price objective on BrightSphere Investment Group from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, January 19th.

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.