Bank of New York Mellon Corp Buys 128,505 Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Bank of New York Mellon Corp increased its holdings in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 204.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 191,341 shares of the company’s stock after purchasing an additional 128,505 shares during the period. Bank of New York Mellon Corp owned 0.16% of Bridge Investment Group worth $1,607,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Jennison Associates LLC boosted its stake in shares of Bridge Investment Group by 0.9% during the fourth quarter. Jennison Associates LLC now owns 3,402,475 shares of the company’s stock valued at $28,581,000 after purchasing an additional 31,593 shares in the last quarter. FMR LLC boosted its stake in shares of Bridge Investment Group by 288.0% during the third quarter. FMR LLC now owns 1,509,690 shares of the company’s stock valued at $14,901,000 after purchasing an additional 1,120,549 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Bridge Investment Group by 1.1% during the third quarter. Franklin Resources Inc. now owns 1,286,847 shares of the company’s stock valued at $13,383,000 after purchasing an additional 14,235 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Bridge Investment Group by 11.2% during the third quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock valued at $4,026,000 after purchasing an additional 40,975 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Bridge Investment Group by 12.0% during the third quarter. State Street Corp now owns 128,711 shares of the company’s stock valued at $1,270,000 after purchasing an additional 13,800 shares in the last quarter. 52.83% of the stock is currently owned by institutional investors.

Bridge Investment Group Price Performance

Shares of BRDG opened at $10.10 on Friday. The company has a 50 day moving average of $8.65 and a two-hundred day moving average of $9.18. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 252.61 and a beta of 1.47. Bridge Investment Group Holdings Inc. has a twelve month low of $6.31 and a twelve month high of $11.69. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86.

Bridge Investment Group (NYSE:BRDG) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $81.96 million during the quarter, compared to analysts’ expectations of $82.02 million. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. As a group, analysts predict that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Bridge Investment Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.11 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.36%. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.10. Bridge Investment Group’s dividend payout ratio (DPR) is currently 488.89%.

Insiders Place Their Bets

In related news, Vice Chairman Dean Allara sold 10,877 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $8.31, for a total transaction of $90,387.87. Following the completion of the transaction, the insider now owns 662,473 shares of the company’s stock, valued at $5,505,150.63. This trade represents a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Robert Randolph Morse sold 45,343 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total transaction of $375,893.47. Following the transaction, the chairman now directly owns 3,249,076 shares of the company’s stock, valued at approximately $26,934,840.04. This trade represents a 1.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 145,187 shares of company stock valued at $1,204,966. Insiders own 65.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BRDG shares. UBS Group increased their price objective on shares of Bridge Investment Group from $7.50 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Wells Fargo & Company lowered their target price on shares of Bridge Investment Group from $11.50 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $10.00 target price (down from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.80.

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.