DigitalBridge Group, Inc. (NYSE:DBRG) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,126,838 shares of the company’s stock after selling 98,267 shares during the quarter. Bank of America Corp DE owned approximately 1.22% of DigitalBridge Group worth $23,991,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Northern Trust Corp increased its holdings in DigitalBridge Group by 1.8% in the fourth quarter. Northern Trust Corp now owns 1,522,539 shares of the company’s stock valued at $17,174,000 after buying an additional 26,930 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of DigitalBridge Group by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,030,657 shares of the company’s stock valued at $34,186,000 after acquiring an additional 99,891 shares during the period. Barclays PLC increased its stake in shares of DigitalBridge Group by 364.3% in the 3rd quarter. Barclays PLC now owns 268,326 shares of the company’s stock valued at $3,792,000 after purchasing an additional 210,533 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its stake in shares of DigitalBridge Group by 868.9% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 4,483,340 shares of the company’s stock valued at $50,572,000 after purchasing an additional 4,020,627 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new position in DigitalBridge Group in the 4th quarter worth about $305,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

DigitalBridge Group Stock Up 1.5%

Shares of DBRG opened at $12.01 on Monday. DigitalBridge Group, Inc. has a 52-week low of $6.41 and a 52-week high of $17.33. The stock has a market cap of $2.10 billion, a PE ratio of 400.37, a price-to-earnings-growth ratio of 3.46 and a beta of 1.58. The firm’s fifty day moving average is $8.68 and its two-hundred day moving average is $10.52.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.03. The firm had revenue of $101.55 million for the quarter, compared to the consensus estimate of $93.01 million. DigitalBridge Group had a net margin of 10.98% and a return on equity of 4.29%. As a group, research analysts anticipate that DigitalBridge Group, Inc. will post 0.17 earnings per share for the current year.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.33%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 13.33%.

Analyst Ratings Changes

Several brokerages have commented on DBRG. Truist Financial dropped their price objective on DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Keefe, Bruyette & Woods dropped their price target on shares of DigitalBridge Group from $13.50 to $10.50 and set a “market perform” rating on the stock in a research note on Tuesday, May 6th. Wells Fargo & Company upped their price objective on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. JPMorgan Chase & Co. decreased their price objective on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. Finally, Citizens Jmp raised shares of DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $16.06.

DigitalBridge Group Company Profile

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.