Lazard Asset Management LLC Increases Stake in DigitalBridge Group, Inc. (NYSE:DBRG)

Lazard Asset Management LLC lifted its holdings in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 384.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,346,966 shares of the company's stock after purchasing an additional 2,656,100 shares during the period. Lazard Asset Management LLC owned 1.92% of DigitalBridge Group worth $37,753,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of DBRG. Spire Wealth Management bought a new stake in DigitalBridge Group in the fourth quarter valued at about $37,000. Manchester Capital Management LLC raised its stake in shares of DigitalBridge Group by 172.1% during the fourth quarter. Manchester Capital Management LLC now owns 4,372 shares of the company's stock worth $49,000 after buying an additional 2,765 shares during the last quarter. Meeder Asset Management Inc. increased its stake in DigitalBridge Group by 114.0% in the fourth quarter. Meeder Asset Management Inc. now owns 5,087 shares of the company's stock valued at $57,000 after purchasing an additional 2,710 shares in the last quarter. KBC Group NV increased its stake in DigitalBridge Group by 49.3% in the fourth quarter. KBC Group NV now owns 8,326 shares of the company's stock valued at $94,000 after purchasing an additional 2,750 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of DigitalBridge Group by 164.0% during the fourth quarter. Blue Trust Inc. now owns 9,905 shares of the company's stock worth $112,000 after acquiring an additional 6,153 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

DigitalBridge Group Price Performance

NYSE DBRG traded up $0.18 during trading hours on Friday, hitting $12.01. The company's stock had a trading volume of 7,276,425 shares, compared to its average volume of 2,547,522. The company's 50 day simple moving average is $8.68 and its two-hundred day simple moving average is $10.52. The company has a market cap of $2.10 billion, a P/E ratio of 400.37, a price-to-earnings-growth ratio of 3.46 and a beta of 1.58. DigitalBridge Group, Inc. has a 12 month low of $6.41 and a 12 month high of $17.33.

DigitalBridge Group (NYSE:DBRG - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.03. The business had revenue of $101.55 million for the quarter, compared to analysts' expectations of $93.01 million. DigitalBridge Group had a return on equity of 4.29% and a net margin of 10.98%. As a group, research analysts predict that DigitalBridge Group, Inc. will post 0.17 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

The company 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 dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Monday, June 30th. DigitalBridge Group's payout ratio is 13.33%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DBRG shares. Wells Fargo & Company raised their target price on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Keefe, Bruyette & Woods cut their target price on shares of DigitalBridge Group from $13.50 to $10.50 and set a "market perform" rating on the stock in a research report on Tuesday, May 6th. Truist Financial dropped their target price on shares of DigitalBridge Group from $15.00 to $13.00 and set a "buy" rating on the stock in a research report on Tuesday, March 25th. JMP Securities restated a "market outperform" rating and set a $16.00 price target on shares of DigitalBridge Group in a research note on Friday. Finally, Citizens Jmp upgraded shares of DigitalBridge Group to a "strong-buy" rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $16.06.

DigitalBridge Group 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.