Lord Abbett & CO. LLC Raises Holdings in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Lord Abbett & CO. LLC increased its stake in Bridge Investment Group Holdings Inc. (NYSE:BRDG - Free Report) by 17.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 964,060 shares of the company's stock after acquiring 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 SEC filing.

Several other large investors also recently added to or reduced their stakes in BRDG. Franklin Resources Inc. boosted its stake in shares of Bridge Investment Group by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 1,295,065 shares of the company's stock worth $10,879,000 after purchasing an additional 8,218 shares during the period. Jane Street Group LLC purchased a new stake in shares of Bridge Investment Group in the third quarter worth approximately $102,000. State Street Corp lifted its stake in shares of Bridge Investment Group by 12.0% during the 3rd quarter. State Street Corp now owns 128,711 shares of the company's stock worth $1,270,000 after acquiring an additional 13,800 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Bridge Investment Group during the 4th quarter valued at $133,000. Finally, Raymond James Financial Inc. bought a new position in Bridge Investment Group in the 4th quarter valued at $168,000. 52.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Bridge Investment Group from $11.00 to $9.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. UBS Group boosted their price objective on shares of Bridge Investment Group from $7.50 to $12.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $10.00 target price (down from $12.00) on shares of Bridge Investment Group in a research report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $10.40.

Bridge Investment Group Stock Down 2.2 %

NYSE BRDG traded down $0.21 during trading on Friday, reaching $9.47. 381,900 shares of the company's stock traded hands, compared to its average volume of 264,593. Bridge Investment Group Holdings Inc. has a 12-month low of $6.73 and a 12-month high of $11.69. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 236.81 and a beta of 1.46. The company's 50 day simple moving average is $9.34 and its two-hundred day simple moving average is $9.13.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.02. The company had revenue of $81.96 million during 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, sell-side analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.11 per share. The ex-dividend date was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 4.65%. This is an increase from Bridge Investment Group's previous quarterly dividend of $0.10. Bridge Investment Group's dividend payout ratio (DPR) is presently 488.89%.

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.