Shell Asset Management Co. decreased its stake in DigitalBridge Group, Inc. (NYSE:DBRG – Get Rating) by 80.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,598 shares of the company’s stock after selling 38,808 shares during the quarter. Shell Asset Management Co.’s holdings in DigitalBridge Group were worth $120,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wipfli Financial Advisors LLC bought a new position in shares of DigitalBridge Group during the 3rd quarter valued at $33,000. Y Intercept Hong Kong Ltd bought a new position in shares of DigitalBridge Group during the 2nd quarter valued at $49,000. Aviance Capital Partners LLC bought a new position in shares of DigitalBridge Group during the 2nd quarter valued at $52,000. Nomura Holdings Inc. bought a new position in shares of DigitalBridge Group during the 2nd quarter valued at $52,000. Finally, Advisors Asset Management Inc. bought a new position in shares of DigitalBridge Group during the 1st quarter valued at $57,000. Hedge funds and other institutional investors own 88.52% of the company’s stock.
DigitalBridge Group Stock Performance
NYSE DBRG opened at $12.49 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -4.82 and a beta of 2.05. The company’s fifty day moving average is $12.76 and its two-hundred day moving average is $14.06. DigitalBridge Group, Inc. has a 52-week low of $10.39 and a 52-week high of $30.66.
DigitalBridge Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $0.04 annualized dividend and a yield of 0.32%. DigitalBridge Group’s dividend payout ratio is -1.54%.
Analyst Upgrades and Downgrades
DBRG has been the topic of a number of recent research reports. B. Riley cut their price target on shares of DigitalBridge Group from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of DigitalBridge Group in a report on Wednesday, February 15th. They issued a “buy” rating and a $18.00 target price on the stock. Raymond James dropped their target price on shares of DigitalBridge Group from $38.00 to $34.00 and set a “strong-buy” rating on the stock in a report on Monday, November 7th. JPMorgan Chase & Co. dropped their target price on shares of DigitalBridge Group from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Cowen dropped their target price on shares of DigitalBridge Group from $33.00 to $27.00 in a report on Monday, November 7th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.71.
About DigitalBridge Group
DigitalBridge Group, Inc is a digital infrastructure company that engages in investing in digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure. It operates through the Digital Investment Management (Digital IM) and Corporate and Other segments. The Digital IM segment represents a digital infrastructure investment platform, managing capital on behalf of a diverse base of global investors.
Featured Articles
- Get a free copy of the StockNews.com research report on DigitalBridge Group (DBRG)
- Jack in the Box Pops On Tasty Results, Robust Outlook
- How Low Can Lowe’s Companies Go?
- Ambarella: An AI Play In The Making
- Wendy’s Price Firms After Sizzling Quarter And Juicy Outlook
- Terran Orbital’s New $2.4 Billion Contract is a Game Changer
Want to see what other hedge funds are holding DBRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DigitalBridge Group, Inc. (NYSE:DBRG – Get Rating).
Receive News & Ratings for DigitalBridge Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DigitalBridge Group and related companies with MarketBeat.com's FREE daily email newsletter.
