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

Envestnet Asset Management Inc. grew its stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 273.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,188 shares of the company's stock after acquiring an additional 30,877 shares during the quarter. Envestnet Asset Management Inc.'s holdings in DigitalBridge Group were worth $476,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of DBRG. Charles Schwab Investment Management Inc. lifted its holdings in 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 worth $34,186,000 after buying an additional 99,891 shares in the last quarter. Barclays PLC boosted its stake in shares of DigitalBridge Group by 364.3% during the third quarter. Barclays PLC now owns 268,326 shares of the company's stock worth $3,792,000 after buying an additional 210,533 shares during the period. Horizon Kinetics Asset Management LLC raised its stake in shares of DigitalBridge Group by 868.9% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 4,483,340 shares of the company's stock worth $50,572,000 after purchasing an additional 4,020,627 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of DigitalBridge Group in the fourth quarter valued at approximately $305,000. Finally, LB Partners LLC purchased a new position in DigitalBridge Group in the fourth quarter valued at about $2,820,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Citizens Jmp raised DigitalBridge Group to a "strong-buy" rating in a research note on Monday, January 27th. Wells Fargo & Company boosted their price target on 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. lowered their price objective on DigitalBridge Group from $20.00 to $18.00 and set an "overweight" rating for the company in a research note on Tuesday, January 21st. JMP Securities initiated coverage on DigitalBridge Group in a research note on Monday, January 27th. They issued an "outperform" rating and a $16.00 price target for the company. Finally, Truist Financial decreased their target price on DigitalBridge Group from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $16.06.

DigitalBridge Group Trading Down 0.7 %

Shares of DBRG traded down $0.06 during mid-day trading on Wednesday, reaching $8.73. 1,773,371 shares of the stock traded hands, compared to its average volume of 2,484,780. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 291.00, a price-to-earnings-growth ratio of 3.46 and a beta of 1.58. DigitalBridge Group, Inc. has a 1 year low of $6.41 and a 1 year high of $17.33. The firm has a fifty day moving average price of $8.77 and a 200 day moving average price of $10.92.

DigitalBridge Group (NYSE:DBRG - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.03. The business had revenue of $101.55 million during 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%. On average, sell-side analysts anticipate that DigitalBridge Group, Inc. will post 0.17 EPS for the current year.

DigitalBridge Group Announces Dividend

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

About DigitalBridge Group

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.