Hsbc Holdings PLC Grows Position in DigitalBridge Group, Inc. $DBRG

Key Points

• HSBC Holdings PLC increased its stake in DigitalBridge Group by 159.3% in the first quarter, buying an additional 1.91 million shares. The fund now owns 3.11 million shares worth about $47.9 million.
• Institutional ownership remains very high, with 92.69% of DigitalBridge shares held by hedge funds and other institutional investors. Several other firms also boosted their positions during the latest reporting periods.
• DigitalBridge stock recently traded near its 12-month high at $15.81, and the company pays a small quarterly dividend of $0.01 per share, equal to a 0.3% annual yield. Analysts currently have an average Hold rating with a consensus target price of $16.00.

Hsbc Holdings PLC raised its stake in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 159.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,110,592 shares of the company's stock after acquiring an additional 1,910,984 shares during the quarter. Hsbc Holdings PLC owned approximately 1.70% of DigitalBridge Group worth $47,919,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Kestra Advisory Services LLC raised its stake in DigitalBridge Group by 11.4% in the 1st quarter. Kestra Advisory Services LLC now owns 73,775 shares of the company's stock valued at $1,138,000 after purchasing an additional 7,558 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of DigitalBridge Group by 10.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 33,090 shares of the company's stock worth $510,000 after purchasing an additional 3,251 shares during the last quarter. Purpose Unlimited Inc. purchased a new stake in shares of DigitalBridge Group during the fourth quarter worth about $3,220,000. Rockefeller Capital Management L.P. grew its holdings in shares of DigitalBridge Group by 23.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 438,598 shares of the company's stock worth $6,728,000 after buying an additional 83,786 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of DigitalBridge Group by 52.1% in the fourth quarter. Corient Private Wealth LLC now owns 20,527 shares of the company's stock valued at $314,000 after buying an additional 7,028 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

DigitalBridge Group Price Performance

DigitalBridge Group stock opened at $15.81 on Tuesday. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 32.26 and a beta of 1.46. DigitalBridge Group, Inc. has a 12 month low of $8.94 and a 12 month high of $15.82. The stock's 50-day moving average is $15.72 and its 200-day moving average is $15.54.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.01 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.04 annualized dividend and a yield of 0.3%. DigitalBridge Group's dividend payout ratio (DPR) is presently 8.16%.

Analyst Upgrades and Downgrades

DBRG has been the topic of a number of analyst reports. Truist Financial began coverage on shares of DigitalBridge Group in a research report on Tuesday, March 31st. They set a "buy" rating and a $16.00 target price on the stock. Weiss Ratings restated a "hold (c)" rating on shares of DigitalBridge Group in a report on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $16.00.

DigitalBridge Group Company Profile

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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