Bank of America Corp DE Lowers Stock Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Bank of America Corp DE decreased its position in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,126,838 shares of the company's stock after selling 98,267 shares during the quarter. Bank of America Corp DE owned about 1.22% of DigitalBridge Group worth $23,991,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp grew its position in shares of DigitalBridge Group by 1.8% during the 4th quarter. Northern Trust Corp now owns 1,522,539 shares of the company's stock worth $17,174,000 after buying an additional 26,930 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of DigitalBridge Group by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,030,657 shares of the company's stock worth $34,186,000 after buying an additional 99,891 shares during the period. Barclays PLC grew its position in shares of DigitalBridge Group by 364.3% during the 3rd quarter. Barclays PLC now owns 268,326 shares of the company's stock worth $3,792,000 after buying an additional 210,533 shares during the period. Horizon Kinetics Asset Management LLC grew its position in shares of DigitalBridge Group by 868.9% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 4,483,340 shares of the company's stock worth $50,572,000 after buying an additional 4,020,627 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in shares of DigitalBridge Group during the 4th quarter worth approximately $305,000. Institutional investors own 92.69% of the company's stock.

DigitalBridge Group Stock Performance

DBRG traded up $0.28 during mid-day trading on Friday, reaching $11.15. 3,415,051 shares of the stock were exchanged, compared to its average volume of 2,577,167. The stock has a market capitalization of $1.97 billion, a PE ratio of 371.67, a price-to-earnings-growth ratio of 3.46 and a beta of 1.58. The company has a 50 day moving average price of $8.85 and a two-hundred day moving average price of $10.47. DigitalBridge Group, Inc. has a 1 year low of $6.41 and a 1 year high of $17.33.

DigitalBridge Group (NYSE:DBRG - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.03. DigitalBridge Group had a return on equity of 4.29% and a net margin of 10.98%. The company had revenue of $101.55 million for the quarter, compared to analysts' expectations of $93.01 million. Sell-side analysts expect that DigitalBridge Group, Inc. will post 0.17 EPS for the current fiscal year.

DigitalBridge Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Truist Financial reduced their price target on shares of DigitalBridge Group from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Tuesday, March 25th. JMP Securities reissued a "market outperform" rating and issued a $16.00 price target on shares of DigitalBridge Group in a research report on Friday, May 16th. Keefe, Bruyette & Woods reduced their price target on shares of DigitalBridge Group from $13.50 to $10.50 and set a "market perform" rating for the company in a research report on Tuesday, May 6th. Finally, Citizens Jmp raised shares of DigitalBridge Group to a "strong-buy" rating in a research report on Monday, January 27th. One 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $16.06.

DigitalBridge Group 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.