Wealth Enhancement Advisory Services LLC Buys 24,388 Shares of DigitalBridge Group, Inc. $DBRG

Key Points

• Wealth Enhancement Advisory Services LLC has increased its stake in DigitalBridge Group, Inc. by 231.5% during the 2nd quarter, now holding a total of 34,925 shares, valued at approximately $370,000.
• The company declared a quarterly dividend of $0.01 per share, with an annualized yield of 0.3%, payable on October 15th.
• Institutional investors and hedge funds own 92.69% of DigitalBridge Group's stock, indicating strong institutional interest in the company.

Wealth Enhancement Advisory Services LLC raised its holdings in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 231.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 34,925 shares of the company's stock after acquiring an additional 24,388 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in DigitalBridge Group were worth $370,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DBRG. GAMMA Investing LLC increased its position in DigitalBridge Group by 978.9% in the 1st quarter. GAMMA Investing LLC now owns 4,445 shares of the company's stock valued at $39,000 after acquiring an additional 4,033 shares during the period. SG Americas Securities LLC increased its position in DigitalBridge Group by 73.8% in the 1st quarter. SG Americas Securities LLC now owns 32,301 shares of the company's stock valued at $285,000 after acquiring an additional 13,719 shares during the period. Opal Wealth Advisors LLC acquired a new position in DigitalBridge Group in the 1st quarter valued at approximately $73,000. Bfsg LLC increased its position in DigitalBridge Group by 56.3% in the 1st quarter. Bfsg LLC now owns 17,211 shares of the company's stock valued at $152,000 after acquiring an additional 6,201 shares during the period. Finally, Kingswood Wealth Advisors LLC increased its position in DigitalBridge Group by 77.4% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 31,674 shares of the company's stock valued at $280,000 after acquiring an additional 13,816 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

DigitalBridge Group Trading Down 1.2%

DigitalBridge Group stock opened at $11.76 on Wednesday. DigitalBridge Group, Inc. has a 1-year low of $6.41 and a 1-year high of $17.33. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -294.10 and a beta of 1.66. The firm's fifty day moving average price is $11.40 and its two-hundred day moving average price is $10.32.

DigitalBridge Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, September 30th. DigitalBridge Group's dividend payout ratio (DPR) is presently -100.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DBRG shares. Keefe, Bruyette & Woods increased their price objective on shares of DigitalBridge Group from $10.50 to $11.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 12th. Truist Financial boosted their target price 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. Weiss Ratings restated a "sell (d+)" rating on shares of DigitalBridge Group in a report on Saturday, September 27th. Finally, Wall Street Zen upgraded shares of DigitalBridge Group from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.14.

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.

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