DigitalBridge Group, Inc. $DBRG Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its stake in DigitalBridge Group, Inc. by 68.9%, now holding 60,055 shares worth approximately $530,000.
• A number of institutional investors have increased their positions in DigitalBridge, with notable boosts from GAMMA Investing LLC (978.9%) and US Bancorp DE (187.3%).
• DigitalBridge Group's stock currently has a consensus rating of "Buy" with a price target of $16.14, although it is trading around $11.23.

American Century Companies Inc. trimmed its position in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 68.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,055 shares of the company's stock after selling 133,245 shares during the quarter. American Century Companies Inc.'s holdings in DigitalBridge Group were worth $530,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DBRG. Price T Rowe Associates Inc. MD raised its position in shares of DigitalBridge Group by 2.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 111,398 shares of the company's stock valued at $1,257,000 after purchasing an additional 2,841 shares during the last quarter. Northern Trust Corp raised its position in shares of DigitalBridge Group by 1.8% in the 4th quarter. Northern Trust Corp now owns 1,522,539 shares of the company's stock valued at $17,174,000 after purchasing an additional 26,930 shares during the last quarter. Algert Global LLC purchased a new position in shares of DigitalBridge Group in the 4th quarter valued at approximately $1,009,000. Ameriprise Financial Inc. raised its position in shares of DigitalBridge Group by 17.7% in the 4th quarter. Ameriprise Financial Inc. now owns 662,109 shares of the company's stock valued at $7,469,000 after purchasing an additional 99,520 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of DigitalBridge Group in the 4th quarter valued at approximately $787,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of DigitalBridge Group from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Truist Financial increased their price objective on shares of DigitalBridge Group from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. JMP Securities reaffirmed a "market outperform" rating and issued a $16.00 price objective on shares of DigitalBridge Group in a research report on Friday, May 16th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of DigitalBridge Group from $10.50 to $11.00 and gave the company a "market perform" rating in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, DigitalBridge Group has a consensus rating of "Buy" and an average target price of $16.14.

DigitalBridge Group Price Performance

DBRG traded up $1.14 during trading on Thursday, reaching $12.31. 5,240,843 shares of the company's stock were exchanged, compared to its average volume of 1,636,395. DigitalBridge Group, Inc. has a 1 year low of $6.41 and a 1 year high of $17.33. The stock has a market capitalization of $2.24 billion, a P/E ratio of -307.75 and a beta of 1.63. The company's fifty day simple moving average is $10.99 and its 200-day simple moving average is $10.09.

DigitalBridge Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. DigitalBridge Group's dividend payout ratio (DPR) is presently -100.00%.

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.