Victory Capital Management Inc. grew its stake in DigitalBridge Group, Inc. (NYSE:DBRG – Get Rating) by 70.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,700 shares of the company’s stock after purchasing an additional 31,573 shares during the period. Victory Capital Management Inc.’s holdings in DigitalBridge Group were worth $1,135,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of DBRG. Price T Rowe Associates Inc. MD lifted its stake in shares of DigitalBridge Group by 28.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 18,874,133 shares of the company’s stock valued at $92,106,000 after purchasing an additional 4,176,103 shares during the last quarter. State Street Corp lifted its stake in shares of DigitalBridge Group by 18.6% during the 1st quarter. State Street Corp now owns 20,337,683 shares of the company’s stock worth $146,431,000 after acquiring an additional 3,184,920 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of DigitalBridge Group during the 2nd quarter worth approximately $11,767,000. Vanguard Group Inc. lifted its stake in shares of DigitalBridge Group by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 74,983,124 shares of the company’s stock worth $539,879,000 after acquiring an additional 1,666,885 shares during the last quarter. Finally, Balyasny Asset Management LLC bought a new stake in shares of DigitalBridge Group during the 3rd quarter worth approximately $13,475,000. 88.52% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on DBRG shares. B. Riley decreased their price target on DigitalBridge Group from $32.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, March 24th. Raymond James decreased their price target on DigitalBridge Group from $34.00 to $25.00 and set a “strong-buy” rating for the company in a research note on Thursday, March 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on DigitalBridge Group in a research report on Wednesday, February 15th. They set a “buy” rating and a $18.00 target price for the company. Cowen decreased their target price on DigitalBridge Group from $27.00 to $20.00 in a research report on Monday, February 27th. Finally, 22nd Century Group reaffirmed a “reiterates” rating on shares of DigitalBridge Group in a research report on Wednesday, May 17th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, DigitalBridge Group presently has a consensus rating of “Buy” and an average price target of $22.00.
DigitalBridge Group Trading Up 1.8 %
DigitalBridge Group (NYSE:DBRG – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.10). The company had revenue of $250.16 million during the quarter, compared to the consensus estimate of $297.44 million. DigitalBridge Group had a positive return on equity of 0.89% and a negative net margin of 24.01%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.46) earnings per share. As a group, equities research analysts anticipate that DigitalBridge Group, Inc. will post 0.09 earnings per share for the current fiscal year.
DigitalBridge Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, June 29th. DigitalBridge Group’s payout ratio is -1.91%.
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.
See Also
- Get a free copy of the StockNews.com research report on DigitalBridge Group (DBRG)
- Trading Channel Breakout in Lululemon Brought by Earnings
- What Should Investors Make of These 3 Dividend Cuts?
- Constellation Brands Taps into Growth: Analysts Bullish on Stock
- CrowdStrike: Another Tech Stock to Buy on the Dip
- Salesforce: Time to Snap it Up as the Market Buys the Dip?
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.
