BrightSphere Investment (NYSE:BSIG) released its earnings results on Thursday, May 3rd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.04, Bloomberg Earnings reports. The company had revenue of $249.70 million for the quarter, compared to analysts’ expectations of $238.84 million. BrightSphere Investment had a return on equity of 143.17% and a net margin of 4.26%. The firm’s quarterly revenue was up 26.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 EPS.
BSIG stock opened at $15.66 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.96 and a quick ratio of 0.96. BrightSphere Investment has a 52 week low of $15.37 and a 52 week high of $15.57.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.55%. This is an increase from BrightSphere Investment’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, June 14th. BrightSphere Investment’s dividend payout ratio is presently 22.22%.
In related news, CFO Stephen Belgrad sold 49,213 shares of the stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $15.22, for a total value of $749,021.86. Following the completion of the sale, the chief financial officer now directly owns 317,760 shares in the company, valued at approximately $4,836,307.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Christopher Hadley sold 12,000 shares of the stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $15.61, for a total value of $187,320.00. Following the completion of the sale, the executive vice president now owns 62,749 shares of the company’s stock, valued at $979,511.89. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 140,342 shares of company stock valued at $2,155,047. Insiders own 1.48% of the company’s stock.
Several equities research analysts have recently commented on BSIG shares. Zacks Investment Research raised BrightSphere Investment from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Saturday, March 24th. Credit Suisse Group boosted their price target on BrightSphere Investment from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, May 4th. Citigroup reduced their target price on BrightSphere Investment from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, May 4th. Sandler O’Neill raised BrightSphere Investment from a “hold” rating to a “buy” rating in a research note on Monday, April 30th. Finally, Morgan Stanley reduced their target price on BrightSphere Investment from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. BrightSphere Investment currently has an average rating of “Buy” and an average target price of $19.63.
About BrightSphere Investment
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.
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