Envestnet Asset Management Inc. Boosts Holdings in DigitalBridge Group, Inc. (NYSE:DBRG)

Envestnet Asset Management Inc. grew its position in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 273.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,188 shares of the company's stock after buying an additional 30,877 shares during the quarter. Envestnet Asset Management Inc.'s holdings in DigitalBridge Group were worth $476,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DBRG. JMP Securities started coverage on shares of DigitalBridge Group in a report on Monday, January 27th. They issued an "outperform" rating and a $16.00 target price on the stock. Truist Financial reduced their price objective on shares of DigitalBridge Group from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Citizens Jmp raised DigitalBridge Group to a "strong-buy" rating in a research note on Monday, January 27th. Wells Fargo & Company increased their price objective on DigitalBridge Group from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of DigitalBridge Group from $20.00 to $18.00 and set an "overweight" rating for the company in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, DigitalBridge Group has a consensus rating of "Buy" and an average price target of $16.06.

DigitalBridge Group Stock Up 1.3 %

Shares of DigitalBridge Group stock traded up $0.11 during trading on Friday, reaching $8.77. 396,363 shares of the company were exchanged, compared to its average volume of 2,469,741. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 292.33, a P/E/G ratio of 3.46 and a beta of 1.58. DigitalBridge Group, Inc. has a twelve month low of $6.41 and a twelve month high of $17.33. The business has a 50-day moving average price of $8.67 and a 200-day moving average price of $10.85.

DigitalBridge Group (NYSE:DBRG - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.03. DigitalBridge Group had a return on equity of 4.29% and a net margin of 10.98%. The company had revenue of $101.55 million for the quarter, compared to analyst estimates of $93.01 million. On average, equities research analysts forecast that DigitalBridge Group, Inc. will post 0.17 EPS for the current fiscal year.

DigitalBridge Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, June 30th. DigitalBridge Group's payout ratio is 13.33%.

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.