Principal Financial Group Inc. Lowers Stock Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Principal Financial Group Inc. reduced its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 15.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,205 shares of the company’s stock after selling 1,848 shares during the quarter. Principal Financial Group Inc.’s holdings in DigitalBridge Group were worth $115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Potrero Capital Research LLC bought a new position in DigitalBridge Group during the third quarter valued at approximately $20,201,000. Massachusetts Financial Services Co. MA grew its position in DigitalBridge Group by 27.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,640,632 shares of the company’s stock valued at $51,442,000 after acquiring an additional 791,506 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in DigitalBridge Group during the third quarter valued at approximately $9,757,000. Clearline Capital LP bought a new position in DigitalBridge Group during the third quarter valued at approximately $7,468,000. Finally, Azora Capital LP bought a new position in DigitalBridge Group during the third quarter valued at approximately $7,303,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Truist Financial reduced their price target on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. JMP Securities assumed coverage on shares of DigitalBridge Group in a report on Monday, January 27th. They issued an “outperform” rating and a $16.00 target price on the stock. Keefe, Bruyette & Woods cut their target price on shares of DigitalBridge Group from $14.00 to $13.50 and set a “market perform” rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. cut their target price on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. Finally, B. Riley cut their target price on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $16.61.

DigitalBridge Group Stock Performance

NYSE DBRG opened at $9.84 on Friday. DigitalBridge Group, Inc. has a one year low of $9.49 and a one year high of $19.49. The stock has a 50-day moving average of $10.95 and a 200 day moving average of $12.53. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 327.83, a PEG ratio of 3.46 and a beta of 1.91.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, beating 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 company had revenue of $101.55 million during the quarter, compared to the consensus estimate of $93.01 million. On average, equities analysts predict that DigitalBridge Group, Inc. will post 0.17 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, March 31st. This represents a $0.04 annualized dividend and a yield of 0.41%. DigitalBridge Group’s payout ratio is presently 133.33%.

About DigitalBridge Group

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.