Thrivent Financial for Lutherans Reduces Stock Holdings in DigitalBridge Group, Inc. (NYSE:DBRG)

Thrivent Financial for Lutherans lowered its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,296 shares of the company’s stock after selling 3,301 shares during the quarter. Thrivent Financial for Lutherans’ holdings in DigitalBridge Group were worth $1,059,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in DBRG. nVerses Capital LLC increased its position in shares of DigitalBridge Group by 633.3% in the second quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $30,000 after buying an additional 1,900 shares in the last quarter. Quarry LP acquired a new stake in shares of DigitalBridge Group during the fourth quarter valued at $41,000. Headlands Technologies LLC boosted its stake in shares of DigitalBridge Group by 33,627.3% during the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock valued at $102,000 after acquiring an additional 7,398 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of DigitalBridge Group by 944.8% during the second quarter. Federated Hermes Inc. now owns 10,166 shares of the company’s stock valued at $139,000 after acquiring an additional 9,193 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of DigitalBridge Group during the first quarter valued at $216,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on DBRG shares. JPMorgan Chase & Co. increased their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $19.00 price objective on shares of DigitalBridge Group in a research note on Wednesday, July 3rd. Wells Fargo & Company decreased their price objective on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods decreased their price target on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a research note on Tuesday, June 18th. Finally, Raymond James decreased their price target on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a research note on Thursday, August 8th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $19.22.

DigitalBridge Group Price Performance

NYSE DBRG opened at $15.05 on Friday. The firm has a market capitalization of $2.62 billion, a P/E ratio of 9.71, a P/E/G ratio of 2.59 and a beta of 1.95. DigitalBridge Group, Inc. has a 1-year low of $11.07 and a 1-year high of $20.99. The business’s 50-day simple moving average is $13.15 and its 200-day simple moving average is $14.43.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $390.34 million during the quarter, compared to analyst estimates of $97.05 million. DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. On average, equities research analysts expect that DigitalBridge Group, Inc. will post 0.16 EPS for the current fiscal year.

DigitalBridge Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.27%. The ex-dividend date is Monday, September 30th. DigitalBridge Group’s dividend payout ratio is currently 2.58%.

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.