Raymond James Financial Services Advisors Inc. Buys Shares of 48,967 Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Raymond James Financial Services Advisors Inc. bought a new stake in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) in the fourth quarter, Holdings Channel reports. The firm bought 48,967 shares of the company’s stock, valued at approximately $479,000.

A number of other institutional investors also recently modified their holdings of BRDG. JPMorgan Chase & Co. boosted its stake in shares of Bridge Investment Group by 769.5% during the 1st quarter. JPMorgan Chase & Co. now owns 8,373 shares of the company’s stock valued at $170,000 after buying an additional 7,410 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Bridge Investment Group by 6.2% during the 1st quarter. Bank of New York Mellon Corp now owns 63,146 shares of the company’s stock worth $1,285,000 after purchasing an additional 3,703 shares during the period. BlackRock Inc. increased its holdings in shares of Bridge Investment Group by 1.1% during the 1st quarter. BlackRock Inc. now owns 342,538 shares of the company’s stock worth $6,971,000 after purchasing an additional 3,650 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of Bridge Investment Group by 39.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 557,049 shares of the company’s stock worth $11,336,000 after purchasing an additional 156,156 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Bridge Investment Group by 26.5% during the 1st quarter. Vanguard Group Inc. now owns 2,075,765 shares of the company’s stock worth $42,241,000 after purchasing an additional 434,346 shares during the period. Institutional investors and hedge funds own 52.83% of the company’s stock.

Analysts Set New Price Targets

BRDG has been the topic of several research reports. TD Cowen initiated coverage on shares of Bridge Investment Group in a report on Thursday, January 4th. They set an “outperform” rating and a $11.00 price objective on the stock. UBS Group dropped their price objective on shares of Bridge Investment Group from $9.50 to $6.50 and set a “neutral” rating on the stock in a report on Friday, March 15th. Morgan Stanley dropped their price objective on shares of Bridge Investment Group from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Monday, February 26th. Wells Fargo & Company dropped their price objective on shares of Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Bridge Investment Group from $13.50 to $11.50 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $10.67.

Bridge Investment Group Price Performance

Shares of Bridge Investment Group stock opened at $6.67 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s 50-day simple moving average is $7.10 and its 200-day simple moving average is $8.07. Bridge Investment Group Holdings Inc. has a twelve month low of $6.18 and a twelve month high of $13.07. The firm has a market cap of $806.93 million, a P/E ratio of -14.81 and a beta of 1.61.

Bridge Investment Group (NYSE:BRDG) last issued its earnings results on Wednesday, February 21st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.04). The business had revenue of $70.52 million for the quarter, compared to analyst estimates of $78.55 million. Bridge Investment Group had a negative net margin of 1.73% and a positive return on equity of 9.14%. As a group, research analysts expect that Bridge Investment Group Holdings Inc. will post 0.78 EPS for the current fiscal year.

Bridge Investment Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.28 dividend on an annualized basis and a yield of 4.20%. Bridge Investment Group’s dividend payout ratio (DPR) is presently -62.22%.

About Bridge Investment Group

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.