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

BrightSphere Investment Group Inc. (NYSE:BSIG) announced a quarterly dividend on Friday, April 30th, Wall Street Journal reports. Shareholders of record on Friday, June 11th will be paid a dividend of 0.01 per share on Friday, June 25th. This represents a $0.04 annualized dividend and a yield of 0.18%. The ex-dividend date is Thursday, June 10th.

BrightSphere Investment Group has a payout ratio of 2.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect BrightSphere Investment Group to earn $2.59 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%.

Shares of BSIG stock opened at $22.26 on Wednesday. The business’s 50-day moving average price is $22.52. BrightSphere Investment Group has a 12-month low of $8.88 and a 12-month high of $24.01. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 0.60 and a beta of 1.71.

BrightSphere Investment Group (NYSE:BSIG) last issued its quarterly earnings results on Thursday, April 29th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). BrightSphere Investment Group had a return on equity of 47.71% and a net margin of 42.14%. As a group, research analysts expect that BrightSphere Investment Group will post 1.52 earnings per share for the current year.

A number of equities research analysts have recently weighed in on BSIG shares. Zacks Investment Research raised BrightSphere Investment Group from a “sell” rating to a “hold” rating in a research note on Monday, May 31st. Bank of America raised BrightSphere Investment Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $22.00 to $27.00 in a research note on Friday, April 9th. Finally, Morgan Stanley lowered their target price on BrightSphere Investment Group from $30.00 to $29.00 and set an “overweight” rating for the company in a research note on Friday, April 30th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $23.67.

BrightSphere Investment Group Company Profile

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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Dividend History for BrightSphere Investment Group (NYSE:BSIG)

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