Ameriprise Financial Inc. Purchases 99,520 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Ameriprise Financial Inc. grew its stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 17.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 662,109 shares of the company's stock after buying an additional 99,520 shares during the period. Ameriprise Financial Inc. owned approximately 0.38% of DigitalBridge Group worth $7,469,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Covestor Ltd raised its position in shares of DigitalBridge Group by 9.8% during the fourth quarter. Covestor Ltd now owns 11,752 shares of the company's stock valued at $133,000 after buying an additional 1,049 shares during the last quarter. Summit Investment Advisors Inc. raised its position in shares of DigitalBridge Group by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 16,631 shares of the company's stock valued at $188,000 after buying an additional 1,056 shares during the last quarter. Xponance Inc. raised its position in shares of DigitalBridge Group by 12.7% during the fourth quarter. Xponance Inc. now owns 11,725 shares of the company's stock valued at $132,000 after buying an additional 1,321 shares during the last quarter. Stoneridge Investment Partners LLC raised its position in DigitalBridge Group by 22.5% in the fourth quarter. Stoneridge Investment Partners LLC now owns 13,116 shares of the company's stock worth $148,000 after purchasing an additional 2,408 shares in the last quarter. Finally, Swiss National Bank raised its position in DigitalBridge Group by 0.8% in the fourth quarter. Swiss National Bank now owns 341,625 shares of the company's stock worth $3,854,000 after purchasing an additional 2,700 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analyst Weigh In

DBRG has been the topic of several research analyst reports. Keefe, Bruyette & Woods decreased their price target on shares of DigitalBridge Group from $13.50 to $10.50 and set a "market perform" rating on the stock in a research note on Tuesday, May 6th. Citizens Jmp raised shares of DigitalBridge Group to a "strong-buy" rating in a report on Monday, January 27th. Wells Fargo & Company raised their price target on shares of DigitalBridge Group from $15.00 to $16.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Truist Financial lowered their target price on shares of DigitalBridge Group from $15.00 to $13.00 and set a "buy" rating for the company in a report on Tuesday, March 25th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $16.00 target price on shares of DigitalBridge Group in a report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, DigitalBridge Group presently has an average rating of "Buy" and a consensus price target of $16.06.

DigitalBridge Group Price Performance

Shares of NYSE DBRG traded up $0.28 during midday trading on Tuesday, reaching $11.46. 3,054,581 shares of the stock were exchanged, compared to its average volume of 2,579,078. The business has a 50-day simple moving average of $8.92 and a two-hundred day simple moving average of $10.46. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 382.00, a P/E/G ratio of 3.46 and a beta of 1.58. DigitalBridge Group, Inc. has a 12 month low of $6.41 and a 12 month high of $17.33.

DigitalBridge Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders 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 dividend yield of 0.35%. DigitalBridge Group's dividend payout ratio is 13.33%.

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.