DigitalBridge Group, Inc. (NYSE:DBRG) Holdings Lifted by Private Management Group Inc.

Key Points

• Private Management Group Inc. has significantly increased its holdings in DigitalBridge Group, Inc. by 65.9%, owning approximately 1.41% of the company valued at $21.7 million by the end of Q1.
• DigitalBridge Group recently announced a quarterly dividend of $0.01 per share, reflecting an annual yield of 0.36%.
• The stock's 12-month price range is between $6.41 and $17.33, currently trading at $11.24 with a market capitalization of $1.98 billion.

Private Management Group Inc. boosted its holdings in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 65.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,461,756 shares of the company's stock after acquiring an additional 978,162 shares during the quarter. Private Management Group Inc. owned 1.41% of DigitalBridge Group worth $21,713,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of DBRG. Sunbelt Securities Inc. boosted its holdings in shares of DigitalBridge Group by 109.9% during the fourth quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company's stock worth $31,000 after purchasing an additional 1,464 shares during the period. Point72 Hong Kong Ltd purchased a new stake in DigitalBridge Group in the 4th quarter worth approximately $39,000. GAMMA Investing LLC boosted its stake in shares of DigitalBridge Group by 978.9% during the 1st quarter. GAMMA Investing LLC now owns 4,445 shares of the company's stock valued at $39,000 after buying an additional 4,033 shares during the period. Spire Wealth Management grew its holdings in shares of DigitalBridge Group by 91.1% during the 1st quarter. Spire Wealth Management now owns 6,208 shares of the company's stock valued at $55,000 after acquiring an additional 2,960 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of DigitalBridge Group by 114.0% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

DigitalBridge Group Stock Up 1.0%

Shares of DigitalBridge Group stock opened at $11.24 on Friday. DigitalBridge Group, Inc. has a 12-month low of $6.41 and a 12-month high of $17.33. The stock has a 50 day moving average price of $10.74 and a two-hundred day moving average price of $10.05. The stock has a market capitalization of $1.98 billion, a P/E ratio of 37.46, a PEG ratio of 1.26 and a beta of 1.67.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.04 annualized dividend and a yield of 0.36%. DigitalBridge Group's payout ratio is 13.33%.

Wall Street Analyst Weigh In

DBRG has been the subject of a number of research reports. JMP Securities reissued a "market outperform" rating and set a $16.00 price objective on shares of DigitalBridge Group in a research report on Friday, May 16th. Truist Financial boosted their price target on DigitalBridge Group from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Wall Street Zen lowered shares of DigitalBridge Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of DigitalBridge Group from $13.50 to $10.50 and set a "market perform" rating for the company in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, DigitalBridge Group has a consensus rating of "Moderate Buy" and a consensus target price of $15.94.

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.

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