Principal Financial Group Inc. Sells 5,096 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Principal Financial Group Inc. trimmed its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 29.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,053 shares of the company’s stock after selling 5,096 shares during the quarter. Principal Financial Group Inc.’s holdings in DigitalBridge Group were worth $170,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. raised its holdings in DigitalBridge Group by 33.6% in the third quarter. Franklin Resources Inc. now owns 180,369 shares of the company’s stock worth $2,792,000 after purchasing an additional 45,333 shares in the last quarter. Tidal Investments LLC grew its position in shares of DigitalBridge Group by 22.8% in the 3rd quarter. Tidal Investments LLC now owns 99,995 shares of the company’s stock worth $1,413,000 after buying an additional 18,536 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of DigitalBridge Group by 10.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 219,342 shares of the company’s stock worth $3,099,000 after acquiring an additional 20,486 shares in the last quarter. Geode Capital Management LLC lifted its position in DigitalBridge Group by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,167,413 shares of the company’s stock valued at $58,895,000 after acquiring an additional 317,776 shares during the last quarter. Finally, Barclays PLC boosted its stake in DigitalBridge Group by 364.3% in the third quarter. Barclays PLC now owns 268,326 shares of the company’s stock valued at $3,792,000 after acquiring an additional 210,533 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on DBRG shares. Wells Fargo & Company reduced their price target on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Truist Financial reduced their target price on DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. JPMorgan Chase & Co. raised their price target on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Raymond James dropped their price target on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 5th. Finally, B. Riley decreased their price objective on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $17.38.

DigitalBridge Group Stock Down 3.4 %

Shares of NYSE DBRG opened at $10.96 on Wednesday. DigitalBridge Group, Inc. has a 52 week low of $10.55 and a 52 week high of $20.99. The business’s 50 day moving average price is $12.29 and its 200 day moving average price is $13.26. The firm has a market cap of $1.91 billion, a P/E ratio of 15.01, a P/E/G ratio of 13.76 and a beta of 1.91.

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 5.48%.

About DigitalBridge Group

DigitalBridge is an infrastructure investment firm specializing in digital infrastructure assets. They provide services to institutional investors. They primarily invest in data centers, cell towers, fiber networks, small cells, and edge infrastructure. DigitalBridge Group, Inc was founded in 1991 and is headquartered in Boca Raton, Florida with additional offices in Los Angles, California, and New York New York.