48,967 Shares in Bridge Investment Group Holdings Inc. (NYSE:BRDG) Acquired by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. acquired a new position in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 48,967 shares of the company’s stock, valued at approximately $479,000. Raymond James Financial Services Advisors Inc. owned about 0.14% of Bridge Investment Group at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Jennison Associates LLC grew its stake in Bridge Investment Group by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 3,083,410 shares of the company’s stock worth $28,367,000 after acquiring an additional 115,347 shares during the period. Vanguard Group Inc. grew its stake in Bridge Investment Group by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,619,156 shares of the company’s stock worth $24,096,000 after acquiring an additional 30,787 shares during the period. Burgundy Asset Management Ltd. grew its stake in Bridge Investment Group by 1.6% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 2,353,336 shares of the company’s stock worth $21,651,000 after acquiring an additional 36,193 shares during the period. Morgan Stanley grew its stake in Bridge Investment Group by 1.1% in the 4th quarter. Morgan Stanley now owns 1,924,922 shares of the company’s stock worth $23,195,000 after acquiring an additional 20,705 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in Bridge Investment Group by 2.5% in the 1st quarter. 1832 Asset Management L.P. now owns 1,810,680 shares of the company’s stock worth $36,346,000 after acquiring an additional 44,118 shares during the period. 52.83% of the stock is currently owned by institutional investors and hedge funds.

Bridge Investment Group Stock Down 1.8 %

Shares of NYSE BRDG opened at $6.67 on Friday. Bridge Investment Group Holdings Inc. has a 52-week low of $6.18 and a 52-week high of $13.07. The firm has a fifty day moving average of $7.10 and a 200-day moving average of $8.07. The stock has a market capitalization of $806.93 million, a PE ratio of -14.81 and a beta of 1.61. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.82.

Bridge Investment Group (NYSE:BRDG) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Bridge Investment Group had a positive return on equity of 9.14% and a negative net margin of 1.73%. The business had revenue of $70.52 million for the quarter, compared to analysts’ expectations of $78.55 million. On average, analysts anticipate that Bridge Investment Group Holdings Inc. will post 0.78 EPS for the current year.

Bridge Investment Group Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.28 dividend on an annualized basis and a yield of 4.20%. Bridge Investment Group’s dividend payout ratio (DPR) is -62.22%.

Wall Street Analyst Weigh In

Several research firms have commented on BRDG. UBS Group lowered their target price on shares of Bridge Investment Group from $9.50 to $6.50 and set a “neutral” rating for the company in a research note on Friday, March 15th. Morgan Stanley lowered their target price on shares of Bridge Investment Group from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Monday, February 26th. Wells Fargo & Company lowered their price objective on shares of Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. TD Cowen began coverage on shares of Bridge Investment Group in a research note on Thursday, January 4th. They set an “outperform” rating and a $11.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Bridge Investment Group from $13.50 to $11.50 and set an “overweight” rating for the company in a research note on Friday, February 23rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.67.

About Bridge Investment Group

Bridge Investment Group Holdings Inc engages in the real estate investment management business in the United States. It manages capital on behalf of approximately hundred global institutions and 6,500 individual investors across approximately 25 investment vehicles. The company was founded in 2009 and is headquartered in Salt Lake City, Utah.