DigitalBridge Group, Inc. $DBRG Stock Position Lifted by Northern Trust Corp

Key Points

• Northern Trust Corp has increased its ownership in DigitalBridge Group by 3.8%, now holding approximately 1,579,691 shares worth about $13.9 million.
• DigitalBridge Group recently declared a $0.01 quarterly dividend with a yield of 0.4%, payable on October 15th.
• Analysts have a consensus rating of "Buy"** for DigitalBridge Group, with a price target averaging **$16.14.

Northern Trust Corp boosted its holdings in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,579,691 shares of the company's stock after buying an additional 57,152 shares during the period. Northern Trust Corp owned approximately 0.91% of DigitalBridge Group worth $13,933,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Frontier Capital Management Co. LLC increased its position in DigitalBridge Group by 28.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 5,575,225 shares of the company's stock worth $62,889,000 after buying an additional 1,218,901 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in DigitalBridge Group by 16.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,029,913 shares of the company's stock valued at $35,544,000 after buying an additional 567,170 shares during the period. Brown Advisory Inc. boosted its stake in shares of DigitalBridge Group by 0.9% during the first quarter. Brown Advisory Inc. now owns 3,692,895 shares of the company's stock valued at $32,571,000 after purchasing an additional 33,960 shares in the last quarter. Invesco Ltd. raised its stake in shares of DigitalBridge Group by 7.2% during the 1st quarter. Invesco Ltd. now owns 3,551,228 shares of the company's stock worth $31,322,000 after acquiring an additional 237,503 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in DigitalBridge Group by 384.5% during the 4th quarter. Lazard Asset Management LLC now owns 3,346,966 shares of the company's stock valued at $37,753,000 after acquiring an additional 2,656,100 shares during the period. Institutional investors own 92.69% of the company's stock.

Analysts Set New Price Targets

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

DigitalBridge Group Price Performance

NYSE DBRG traded up $0.07 during mid-day trading on Monday, reaching $11.29. The stock had a trading volume of 552,375 shares, compared to its average volume of 2,578,185. The company has a fifty day moving average price of $10.91 and a 200 day moving average price of $10.08. DigitalBridge Group, Inc. has a 1 year low of $6.41 and a 1 year high of $17.33. The stock has a market cap of $2.06 billion, a PE ratio of -281.88 and a beta of 1.63.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.4%. DigitalBridge Group's dividend payout ratio (DPR) is currently -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.