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

BrightSphere Investment Group Inc. (NYSE:BSIG) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.01 per share on Friday, June 28th. This represents a $0.04 annualized dividend and a dividend 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% annually over the last three years. BrightSphere Investment Group has a payout ratio of 1.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of BSIG stock traded down $0.06 during trading hours on Friday, hitting $22.56. 180,642 shares of the company were exchanged, compared to its average volume of 169,261. The firm has a market cap of $854.12 million, a P/E ratio of 13.76 and a beta of 1.47. BrightSphere Investment Group has a fifty-two week low of $15.23 and a fifty-two week high of $23.63. The company has a 50 day simple moving average of $22.70 and a two-hundred day simple moving average of $20.26.

BrightSphere Investment Group (NYSE:BSIG) last issued its earnings results on Thursday, February 1st. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.19. BrightSphere Investment Group had a return on equity of 438.16% and a net margin of 15.53%. The company had revenue of $131.20 million for the quarter, compared to analyst estimates of $127.57 million. As a group, sell-side analysts expect that BrightSphere Investment Group will post 2.18 EPS for the current fiscal year.

Insider Activity

In related news, CEO Suren Rana sold 109,960 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $20.74, for a total transaction of $2,280,570.40. Following the completion of the transaction, the chief executive officer now owns 130,967 shares in the company, valued at $2,716,255.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 24.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on BSIG. TheStreet raised BrightSphere Investment Group from a “d+” rating to a “c-” rating in a report on Thursday, January 25th. Morgan Stanley increased their price target on BrightSphere Investment Group from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, January 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price objective on shares of BrightSphere Investment Group in a report on Friday, February 2nd. Finally, StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a research report on Friday.

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.