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

BrightSphere Investment Group Inc. (NYSE:BSIG) announced a quarterly dividend on Friday, November 1st, Wall Street Journal reports. Investors 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 dividend on an annualized basis 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 by an average of 32.5% annually over the last three years. BrightSphere Investment Group has a payout ratio of 1.5% meaning its dividend is sufficiently covered by earnings. 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%.

BrightSphere Investment Group Trading Up 3.9 %

BrightSphere Investment Group stock traded up $1.04 during midday trading on Friday, reaching $27.43. 158,687 shares of the stock traded hands, compared to its average volume of 258,742. The company has a 50-day simple moving average of $24.92 and a two-hundred day simple moving average of $23.66. BrightSphere Investment Group has a 12-month low of $15.23 and a 12-month high of $27.58. The firm has a market cap of $1.02 billion, a PE ratio of 16.35 and a beta of 1.41.

BrightSphere Investment Group (NYSE:BSIG) last announced its earnings results on Thursday, August 1st. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $109.00 million during the quarter, compared to analysts’ expectations of $104.72 million. During the same period last year, the business posted $0.28 EPS. Equities research analysts anticipate that BrightSphere Investment Group will post 2.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BSIG. Morgan Stanley cut BrightSphere Investment Group from an “equal weight” rating to an “underweight” rating and raised their target price for the company from $23.00 to $26.00 in a report on Friday, October 18th. Royal Bank of Canada raised their target price on BrightSphere Investment Group from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Friday. Finally, StockNews.com cut BrightSphere Investment Group from a “buy” rating to a “hold” rating in a report on Monday, July 22nd.

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.