BrightSphere Investment Group (NYSE:BSIG) Releases Earnings Results, Beats Expectations By $0.07 EPS

BrightSphere Investment Group (NYSE:BSIG - Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.07, Zacks reports. BrightSphere Investment Group had a net margin of 13.92% and a return on equity of 7,606.72%. The firm had revenue of $123.10 million for the quarter, compared to the consensus estimate of $114.95 million. During the same period in the prior year, the firm posted $0.45 EPS.

BrightSphere Investment Group Stock Performance

Shares of BrightSphere Investment Group stock traded up $1.04 during trading hours on Friday, reaching $27.43. The company's stock had a trading volume of 158,687 shares, compared to its average volume of 187,887. The company's 50 day simple moving average is $25.00 and its 200 day simple moving average is $23.71. BrightSphere Investment Group has a one year low of $15.23 and a one year high of $27.58. The stock has a market cap of $1.02 billion, a P/E ratio of 16.62 and a beta of 1.41.

BrightSphere Investment Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.01 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. BrightSphere Investment Group's payout ratio is currently 2.42%.

Analysts Set New Price Targets

A number of research firms have commented on BSIG. Royal Bank of Canada increased their price objective on shares of BrightSphere Investment Group from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Friday. Morgan Stanley downgraded shares of BrightSphere Investment Group from an "equal weight" rating to an "underweight" rating and increased their price objective for the company from $23.00 to $26.00 in a research note on Friday, October 18th. Finally, StockNews.com upgraded shares of BrightSphere Investment Group from a "hold" rating to a "buy" rating in a research note 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.