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

BrightSphere Investment Group Inc. (NYSE:BSIG) announced a quarterly dividend on Tuesday, July 30th, Wall Street Journal reports. Stockholders of record on Friday, September 13th will be paid a dividend of 0.01 per share on Friday, September 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date is Friday, September 13th.

BrightSphere Investment Group has decreased its dividend by an average of 32.5% per year over the last three years. BrightSphere Investment Group has a payout ratio of 1.6% meaning its dividend is sufficiently covered by earnings. Analysts expect BrightSphere Investment Group to earn $2.51 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 Price Performance

Shares of NYSE BSIG opened at $23.36 on Thursday. The company has a 50 day simple moving average of $23.71 and a 200 day simple moving average of $22.98. BrightSphere Investment Group has a 1 year low of $15.23 and a 1 year high of $26.57. The firm has a market cap of $865.96 million, a PE ratio of 14.24 and a beta of 1.42.

BrightSphere Investment Group (NYSE:BSIG) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. The firm had revenue of $109.00 million during the quarter, compared to analysts’ expectations of $104.72 million. BrightSphere Investment Group had a net margin of 15.00% and a return on equity of 871.33%. During the same period in the prior year, the company posted $0.28 EPS. As a group, research analysts anticipate that BrightSphere Investment Group will post 2.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of BrightSphere Investment Group from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd.

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.