Intech Investment Management LLC Makes New $581,000 Investment in DigitalBridge Group, Inc. (NYSE:DBRG)

Intech Investment Management LLC bought a new stake in DigitalBridge Group, Inc. (NYSE:DBRG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 41,114 shares of the company’s stock, valued at approximately $581,000.

Several other hedge funds and other institutional investors have also modified their holdings of DBRG. DekaBank Deutsche Girozentrale acquired a new position in DigitalBridge Group in the first quarter worth approximately $1,247,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of DigitalBridge Group by 24.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,364,524 shares of the company’s stock worth $19,281,000 after purchasing an additional 271,853 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of DigitalBridge Group during the 2nd quarter valued at $3,234,000. Comerica Bank lifted its stake in shares of DigitalBridge Group by 2,778.9% in the 1st quarter. Comerica Bank now owns 154,279 shares of the company’s stock valued at $2,973,000 after purchasing an additional 148,920 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in DigitalBridge Group by 377.2% in the first quarter. Tidal Investments LLC now owns 58,692 shares of the company’s stock worth $1,131,000 after purchasing an additional 46,392 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

DigitalBridge Group Stock Performance

NYSE DBRG opened at $13.10 on Monday. DigitalBridge Group, Inc. has a 52-week low of $11.07 and a 52-week high of $20.99. The stock has a market cap of $2.28 billion, a PE ratio of 17.95, a P/E/G ratio of 8.23 and a beta of 1.94. The firm has a 50-day moving average of $14.17 and a 200-day moving average of $13.51.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.01 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.31%. DigitalBridge Group’s payout ratio is 5.48%.

Wall Street Analysts Forecast Growth

DBRG has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. boosted their target price on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Truist Financial lowered their price target on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Raymond James reduced their price objective on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research note on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods lowered shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $17.75 to $14.00 in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, DigitalBridge Group presently has a consensus rating of “Buy” and an average target price of $18.13.

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.