Bank of America Corp DE Has $39.70 Million Position in DigitalBridge Group, Inc. $DBRG

Key Points

• Bank of America increased its DigitalBridge Group stake by 29.4% in the first quarter, acquiring 584,205 additional shares for a total position valued at approximately $39.7 million.
• Institutional investors and hedge funds own 92.69% of DigitalBridge, while analyst sentiment remains mixed: the stock has a consensus “Hold” rating and an average price target of $16.00.
• DigitalBridge shares opened at $15.90, near their 12-month high of $15.95. The company also declared a quarterly dividend of $0.01 per share, representing a 0.3% annualized yield.

Bank of America Corp DE grew its holdings in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 29.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,574,508 shares of the company's stock after buying an additional 584,205 shares during the quarter. Bank of America Corp DE owned approximately 1.41% of DigitalBridge Group worth $39,699,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DBRG. Parallel Advisors LLC increased its position in shares of DigitalBridge Group by 70.4% during the 1st quarter. Parallel Advisors LLC now owns 1,891 shares of the company's stock worth $29,000 after purchasing an additional 781 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of DigitalBridge Group by 3.0% in the fourth quarter. Handelsbanken Fonder AB now owns 37,500 shares of the company's stock valued at $575,000 after buying an additional 1,100 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of DigitalBridge Group by 4.4% in the fourth quarter. Cetera Investment Advisers now owns 28,921 shares of the company's stock valued at $444,000 after buying an additional 1,214 shares in the last quarter. Cerity Partners LLC increased its holdings in DigitalBridge Group by 2.5% during the fourth quarter. Cerity Partners LLC now owns 53,055 shares of the company's stock worth $814,000 after buying an additional 1,274 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in DigitalBridge Group by 12.5% during the second quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company's stock worth $122,000 after buying an additional 1,309 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of DigitalBridge Group from a "hold (c)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $16.00.

DigitalBridge Group Stock Down 0.2%

Shares of NYSE DBRG opened at $15.90 on Friday. The business's 50 day moving average price is $15.79 and its two-hundred day moving average price is $15.61. The company has a market cap of $2.90 billion, a PE ratio of 10.33 and a beta of 1.47. DigitalBridge Group, Inc. has a twelve month low of $8.94 and a twelve month high of $15.95.

DigitalBridge Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. DigitalBridge Group's payout ratio is presently 2.60%.

About DigitalBridge Group

DigitalBridge Group, Inc NYSE: DBRG is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.

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