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

Principal Financial Group Inc. trimmed its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 29.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,053 shares of the company’s stock after selling 5,096 shares during the quarter. Principal Financial Group Inc.’s holdings in DigitalBridge Group were worth $170,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DBRG. nVerses Capital LLC lifted its stake in DigitalBridge Group by 633.3% during the second quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after purchasing an additional 1,900 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in DigitalBridge Group during the 3rd quarter valued at about $35,000. Blue Trust Inc. grew its position in DigitalBridge Group by 179.2% in the 3rd quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock valued at $51,000 after acquiring an additional 2,408 shares in the last quarter. Headlands Technologies LLC increased its stake in DigitalBridge Group by 33,627.3% during the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock worth $102,000 after purchasing an additional 7,398 shares during the period. Finally, Xponance Inc. acquired a new stake in shares of DigitalBridge Group during the second quarter worth about $138,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on DBRG. Truist Financial decreased their target price on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. JPMorgan Chase & Co. lifted their price target on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Raymond James dropped their target price on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods cut DigitalBridge Group from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $17.75 to $14.00 in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company cut their target price on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $18.13.

DigitalBridge Group Trading Up 4.2 %

Shares of DBRG opened at $12.85 on Tuesday. The stock’s 50 day moving average is $14.27 and its two-hundred day moving average is $13.55. DigitalBridge Group, Inc. has a twelve month low of $11.07 and a twelve month high of $20.99. The firm has a market capitalization of $2.24 billion, a PE ratio of 17.60, a P/E/G ratio of 2.17 and a beta of 1.94.

DigitalBridge Group Announces Dividend

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

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.