BrightSphere Investment Group (NYSE:BSIG) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

BrightSphere Investment Group (NYSE:BSIG) released its earnings results on Thursday. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07, Zacks reports. The business had revenue of $123.10 million during the quarter, compared to analysts’ expectations 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 last year, the business earned $0.45 earnings per share.

BrightSphere Investment Group Price Performance

NYSE BSIG traded up $1.04 on Friday, reaching $27.43. The stock had a trading volume of 158,687 shares, compared to its average volume of 187,887. The company has a market cap of $1.02 billion, a P/E ratio of 16.62 and a beta of 1.41. The firm has a fifty day moving average of $25.00 and a two-hundred day moving average of $23.70. BrightSphere Investment Group has a 1-year low of $15.23 and a 1-year high of $27.58.

BrightSphere Investment Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.01 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.04 annualized dividend and a yield of 0.15%. BrightSphere Investment Group’s dividend payout ratio (DPR) is presently 2.42%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BSIG. Royal Bank of Canada lifted their price objective on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the company an “outperform” rating in a research report 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 upped their price objective for the company from $23.00 to $26.00 in a research note on Friday, October 18th.

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.