DigitalBridge Group, Inc. (NYSE:DBRG) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,035 shares of the company’s stock after selling 5,967 shares during the period. Corebridge Financial Inc.’s holdings in DigitalBridge Group were worth $892,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DBRG. Spire Wealth Management bought a new stake in DigitalBridge Group during the 4th quarter valued at $37,000. Manchester Capital Management LLC raised its stake in shares of DigitalBridge Group by 172.1% during the fourth quarter. Manchester Capital Management LLC now owns 4,372 shares of the company’s stock valued at $49,000 after purchasing an additional 2,765 shares in the last quarter. KBC Group NV raised its stake in shares of DigitalBridge Group by 49.3% during the fourth quarter. KBC Group NV now owns 8,326 shares of the company’s stock valued at $94,000 after purchasing an additional 2,750 shares in the last quarter. Blue Trust Inc. lifted its holdings in DigitalBridge Group by 164.0% in the fourth quarter. Blue Trust Inc. now owns 9,905 shares of the company’s stock worth $112,000 after purchasing an additional 6,153 shares during the period. Finally, one8zero8 LLC bought a new position in DigitalBridge Group in the 4th quarter valued at about $122,000. 92.69% of the stock is currently owned by institutional investors.

DigitalBridge Group Price Performance

DBRG opened at $7.04 on Friday. The company has a market capitalization of $1.23 billion, a PE ratio of 234.50, a price-to-earnings-growth ratio of 3.46 and a beta of 1.68. DigitalBridge Group, Inc. has a fifty-two week low of $6.90 and a fifty-two week high of $19.00. The business has a 50-day moving average of $10.14 and a 200-day moving average of $12.03.

DigitalBridge Group (NYSE:DBRG) last posted its earnings results 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 net margin of 10.98% and a return on equity of 4.29%. The firm had revenue of $101.55 million during the quarter, compared to analysts’ expectations of $93.01 million. On average, equities research analysts expect that DigitalBridge Group, Inc. will post 0.17 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 0.57%. DigitalBridge Group’s dividend payout ratio (DPR) is currently 133.33%.

Analyst Ratings Changes

DBRG has been the subject of a number of research analyst reports. Truist Financial cut their target price on DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. B. Riley decreased their target price on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. JMP Securities assumed coverage on shares of DigitalBridge Group in a research report on Monday, January 27th. They issued an “outperform” rating and a $16.00 price target on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of DigitalBridge Group from $14.00 to $13.50 and set a “market perform” rating for the company in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped 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. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $16.39.

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.