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

BrightSphere Investment Group Inc. (NYSE:BSIG - Get Free Report) declared a quarterly dividend on Tuesday, October 29th, Wall Street Journal reports. Shareholders 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 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 dividend payout ratio of 1.5% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

BSIG traded up $1.04 during midday trading on Friday, hitting $27.43. 158,687 shares of the company's stock traded hands, compared to its average volume of 187,887. The company has a market cap of $1.02 billion, a PE ratio of 16.62 and a beta of 1.41. BrightSphere Investment Group has a one year low of $15.23 and a one year high of $27.58. The stock's fifty day simple moving average is $25.00 and its 200-day simple moving average is $23.70.

BrightSphere Investment Group (NYSE:BSIG - Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. BrightSphere Investment Group had a return on equity of 7,606.72% and a net margin of 13.92%. The firm had revenue of $109.00 million during the quarter, compared to analyst estimates of $104.72 million. During the same period in the previous year, the company earned $0.28 EPS. On average, research analysts expect that BrightSphere Investment Group will post 2.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BSIG shares. Royal Bank of Canada increased their target price on BrightSphere Investment Group from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Friday. StockNews.com upgraded BrightSphere Investment Group from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Morgan Stanley cut shares of BrightSphere Investment Group from an "equal weight" rating to an "underweight" rating and upped their target price for the company from $23.00 to $26.00 in a research report on Friday, October 18th.

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.