EP Wealth Advisors LLC Makes New Investment in DigitalBridge Group, Inc. (NYSE:DBRG)

EP Wealth Advisors LLC purchased a new stake in DigitalBridge Group, Inc. (NYSE:DBRG) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,847 shares of the company’s stock, valued at approximately $400,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. increased its holdings in DigitalBridge Group by 76.9% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,300 shares of the company’s stock valued at $28,000 after acquiring an additional 1,000 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of DigitalBridge Group by 774.1% in the first quarter. Bessemer Group Inc. now owns 2,395 shares of the company’s stock valued at $29,000 after purchasing an additional 2,121 shares in the last quarter. Quarry LP purchased a new stake in shares of DigitalBridge Group in the first quarter valued at about $32,000. Dark Forest Capital Management LP lifted its holdings in shares of DigitalBridge Group by 161.1% in the first quarter. Dark Forest Capital Management LP now owns 2,781 shares of the company’s stock valued at $33,000 after purchasing an additional 1,716 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in shares of DigitalBridge Group in the first quarter valued at about $34,000. Institutional investors and hedge funds own 90.43% of the company’s stock.

DigitalBridge Group Stock Performance

Shares of DBRG stock opened at $17.94 on Monday. DigitalBridge Group, Inc. has a one year low of $9.99 and a one year high of $18.43. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.92 and a current ratio of 0.92. The company has a 50 day moving average price of $16.55 and a 200 day moving average price of $13.77. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of -9.02 and a beta of 2.04.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings results on Friday, August 4th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). DigitalBridge Group had a positive return on equity of 1.28% and a negative net margin of 20.44%. The company had revenue of $424.93 million for the quarter, compared to analyst estimates of $315.48 million. Sell-side analysts anticipate that DigitalBridge Group, Inc. will post -0.2 EPS for the current year.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend is Thursday, September 28th. DigitalBridge Group’s dividend payout ratio (DPR) is -2.01%.

Analysts Set New Price Targets

DBRG has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of DigitalBridge Group from $18.00 to $19.00 in a report on Friday, July 14th. Raymond James upped their price target on shares of DigitalBridge Group from $24.00 to $25.00 and gave the company a “strong-buy” rating in a report on Monday, August 7th. Royal Bank of Canada boosted their price objective on shares of DigitalBridge Group from $14.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, August 14th. Keefe, Bruyette & Woods raised shares of DigitalBridge Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $12.50 to $17.50 in a research report on Sunday, June 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of DigitalBridge Group from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, August 7th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $22.17.

DigitalBridge Group Company Profile

DigitalBridge (NYSE: DBRG) is a leading global digital infrastructure firm. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages a $69 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders.