Wells Fargo & Company Cuts Bridge Investment Group (NYSE:BRDG) Price Target to $10.00

Bridge Investment Group (NYSE:BRDG) had its target price cut by Wells Fargo & Company from $12.00 to $10.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts also recently issued reports on BRDG. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $10.00 price target (down previously from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. TD Cowen lowered their target price on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, November 12th. UBS Group lifted their target price on Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley cut Bridge Investment Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $14.00 to $11.00 in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.40.

Bridge Investment Group Trading Up 3.0 %

NYSE BRDG opened at $7.73 on Tuesday. The company has a market cap of $935.34 million, a price-to-earnings ratio of 193.17 and a beta of 1.57. Bridge Investment Group has a twelve month low of $6.18 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. The business’s fifty day moving average is $9.02 and its 200 day moving average is $8.89.

Bridge Investment Group (NYSE:BRDG) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. The firm had revenue of $101.51 million for the quarter, compared to analyst estimates of $85.00 million. During the same period in the previous year, the business posted $0.22 earnings per share. As a group, sell-side analysts expect that Bridge Investment Group will post 0.68 EPS for the current fiscal year.

Bridge Investment Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.40 dividend on an annualized basis and a yield of 5.18%. Bridge Investment Group’s dividend payout ratio (DPR) is currently 1,000.25%.

Insiders Place Their Bets

In related news, Vice Chairman Dean Allara sold 10,877 shares of the business’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 transaction, the insider now owns 662,473 shares in the company, valued at $5,505,150.63. The trade was a 1.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Adam O’farrell sold 6,655 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 $55,169.95. Following the completion of the sale, the chief operating officer now owns 551,512 shares of the company’s stock, valued at $4,572,034.48. The trade was a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,187 shares of company stock worth $1,204,966. Company insiders own 73.00% of the company’s stock.

Hedge Funds Weigh In On Bridge Investment Group

Several institutional investors have recently made changes to their positions in BRDG. Jennison Associates LLC grew its stake in shares of Bridge Investment Group by 2.3% in the 3rd quarter. Jennison Associates LLC now owns 3,370,882 shares of the company’s stock valued at $33,271,000 after buying an additional 74,779 shares during the period. FMR LLC grew its stake in Bridge Investment Group by 288.0% in the third quarter. FMR LLC now owns 1,509,690 shares of the company’s stock valued at $14,901,000 after acquiring an additional 1,120,549 shares during the period. Franklin Resources Inc. increased its holdings 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 acquiring an additional 14,235 shares in the last quarter. Royce & Associates LP raised its position in shares of Bridge Investment Group by 1.2% during the third quarter. Royce & Associates LP now owns 773,230 shares of the company’s stock worth $7,632,000 after purchasing an additional 8,909 shares during the period. Finally, Geode Capital Management LLC raised its position 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 worth $4,026,000 after purchasing an additional 40,975 shares during the period. Institutional investors and hedge funds own 52.83% of the company’s stock.

Bridge Investment Group Company Profile

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.