Brightsphere Investment Group PLC (BSIG) Raises Dividend to $0.10 Per Share

Brightsphere Investment Group PLC (NYSE:BSIG) announced a quarterly dividend on Monday, May 7th, Wall Street Journal reports. Shareholders of record on Friday, June 15th will be paid a dividend of 0.10 per share on Friday, June 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Thursday, June 14th. This is a positive change from Brightsphere Investment Group’s previous quarterly dividend of $0.09.

Shares of BSIG stock opened at $16.04 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.01. Brightsphere Investment Group has a 12 month low of $13.20 and a 12 month high of $18.62.

Brightsphere Investment Group (NYSE:BSIG) last announced its quarterly earnings data on Thursday, May 3rd. The company reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.04. Brightsphere Investment Group had a return on equity of 143.17% and a net margin of 4.26%. The company had revenue of $249.70 million during the quarter, compared to the consensus estimate of $238.84 million. During the same quarter last year, the company earned $0.34 EPS. The company’s quarterly revenue was up 26.9% on a year-over-year basis. analysts predict that Brightsphere Investment Group will post 1.9 EPS for the current year.



A number of brokerages have recently issued reports on BSIG. Zacks Investment Research raised Brightsphere Investment Group from a “sell” rating to a “hold” rating in a report on Friday, June 8th. Credit Suisse Group increased their target price on Brightsphere Investment Group from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, May 4th. Citigroup dropped their target price on Brightsphere Investment Group from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, May 4th. Sandler O’Neill raised Brightsphere Investment Group from a “hold” rating to a “buy” rating in a report on Monday, April 30th. Finally, Morgan Stanley dropped their target price on Brightsphere Investment Group from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Tuesday, April 10th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Brightsphere Investment Group currently has an average rating of “Buy” and an average target price of $20.00.

In related news, EVP Christopher Hadley sold 12,000 shares of the firm’s stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $15.61, for a total transaction of $187,320.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James Joseph Ritchie sold 20,853 shares of the firm’s stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $15.69, for a total value of $327,183.57. Following the sale, the director now directly owns 67,507 shares of the company’s stock, valued at $1,059,184.83. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,323 shares of company stock valued at $709,174. 0.61% of the stock is currently owned by insiders.

About Brightsphere Investment Group

BrightSphere Investment Group plc 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.

Dividend History for Brightsphere Investment Group (NYSE:BSIG)

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