Lord Abbett & CO. LLC raised its stake in Bridge Investment Group Holdings Inc. (NYSE:BRDG - Free Report) by 17.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 964,060 shares of the company's stock after buying an additional 141,178 shares during the period. Lord Abbett & CO. LLC owned approximately 0.80% of Bridge Investment Group worth $8,098,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of BRDG. State Street Corp boosted its holdings in shares of Bridge Investment Group by 12.0% in the third quarter. State Street Corp now owns 128,711 shares of the company's stock worth $1,270,000 after buying an additional 13,800 shares during the period. Jane Street Group LLC purchased a new position in shares of Bridge Investment Group during the third quarter valued at $102,000. Geode Capital Management LLC grew its holdings in shares of Bridge Investment Group by 11.2% during the third quarter. Geode Capital Management LLC now owns 407,709 shares of the company's stock valued at $4,026,000 after buying an additional 40,975 shares in the last quarter. Franklin Resources Inc. raised its position in Bridge Investment Group by 1.1% during the third quarter. Franklin Resources Inc. now owns 1,286,847 shares of the company's stock valued at $13,383,000 after buying an additional 14,235 shares during the period. Finally, Jennison Associates LLC lifted its stake in Bridge Investment Group by 0.9% in the 4th quarter. Jennison Associates LLC now owns 3,402,475 shares of the company's stock worth $28,581,000 after acquiring an additional 31,593 shares in the last quarter. Institutional investors and hedge funds own 52.83% of the company's stock.
Bridge Investment Group Stock Performance
BRDG stock opened at $9.36 on Monday. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 234.06 and a beta of 1.46. The firm has a 50 day moving average of $9.28 and a two-hundred day moving average of $9.15. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86. Bridge Investment Group Holdings Inc. has a 12 month low of $6.56 and a 12 month high of $11.69.
Bridge Investment Group (NYSE:BRDG - Get Free Report) last posted its earnings results on Monday, February 24th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The firm had revenue of $81.96 million for the quarter, compared to the consensus estimate of $82.02 million. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. As a group, equities analysts anticipate that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current fiscal year.
Bridge Investment Group Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.70%. The ex-dividend date was Friday, March 14th. This is an increase from Bridge Investment Group's previous quarterly dividend of $0.10. Bridge Investment Group's dividend payout ratio (DPR) is 488.89%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on BRDG shares. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $10.00 target price (down previously from $12.00) on shares of Bridge Investment Group in a report on Tuesday, January 7th. Wells Fargo & Company dropped their price objective on shares of Bridge Investment Group from $11.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, UBS Group lifted their target price on shares of Bridge Investment Group from $7.50 to $12.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $10.40.
Read Our Latest Analysis on Bridge Investment Group
About Bridge Investment Group
(
Free Report)
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.
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