DigitalBridge Group, Inc. (NYSE:DBRG) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 2.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 88,426 shares of the company’s stock after selling 2,415 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in DigitalBridge Group were worth $997,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DBRG. Susquehanna Fundamental Investments LLC purchased a new position in DigitalBridge Group during the fourth quarter worth approximately $487,000. Nebula Research & Development LLC acquired a new stake in shares of DigitalBridge Group during the 4th quarter worth $190,000. Argosy Lionbridge Management LLC acquired a new stake in shares of DigitalBridge Group during the 4th quarter worth $5,682,000. Price T Rowe Associates Inc. MD raised its position in shares of DigitalBridge Group by 2.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 111,398 shares of the company’s stock worth $1,257,000 after buying an additional 2,841 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in DigitalBridge Group by 161.9% in the fourth quarter. Hsbc Holdings PLC now owns 60,675 shares of the company’s stock valued at $685,000 after acquiring an additional 37,507 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. lowered their price target on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Truist Financial decreased their target price on DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. JMP Securities initiated coverage on shares of DigitalBridge Group in a research report on Monday, January 27th. They set an “outperform” rating and a $16.00 target price for the company. Keefe, Bruyette & Woods cut their price target on shares of DigitalBridge Group from $13.50 to $10.50 and set a “market perform” rating on the stock in a report on Tuesday, May 6th. Finally, Wells Fargo & Company lifted their price target on shares of DigitalBridge Group from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $16.06.

DigitalBridge Group Price Performance

Shares of NYSE DBRG opened at $9.12 on Wednesday. DigitalBridge Group, Inc. has a 1-year low of $6.41 and a 1-year high of $17.33. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 304.00, a PEG ratio of 3.46 and a beta of 1.58. The business has a 50-day moving average of $8.58 and a 200-day moving average of $10.66.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. DigitalBridge Group had a return on equity of 4.29% and a net margin of 10.98%. The firm had revenue of $101.55 million during the quarter, compared to analysts’ expectations of $93.01 million. Research analysts expect that DigitalBridge Group, Inc. will post 0.17 EPS for the current fiscal year.

DigitalBridge Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.44%. DigitalBridge Group’s payout ratio is currently 13.33%.

DigitalBridge Group Profile

DigitalBridge is an infrastructure investment firm specializing in digital infrastructure assets. They provide services to institutional investors. They primarily invest in data centers, cell towers, fiber networks, small cells, and edge infrastructure. DigitalBridge Group, Inc was founded in 1991 and is headquartered in Boca Raton, Florida with additional offices in Los Angles, California, and New York New York.