Rockbridge Capital Management LLC Makes New $5.10 Million Investment in DigitalBridge Group, Inc. (NYSE:DBRG)

Rockbridge Capital Management LLC bought a new position in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 452,268 shares of the company's stock, valued at approximately $5,102,000. DigitalBridge Group accounts for about 2.9% of Rockbridge Capital Management LLC's holdings, making the stock its 12th largest holding. Rockbridge Capital Management LLC owned about 0.26% of DigitalBridge Group at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of DBRG. Horizon Kinetics Asset Management LLC increased its holdings in DigitalBridge Group by 868.9% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 4,483,340 shares of the company's stock valued at $50,572,000 after acquiring an additional 4,020,627 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of DigitalBridge Group by 384.5% in the fourth quarter. Lazard Asset Management LLC now owns 3,346,966 shares of the company's stock worth $37,753,000 after purchasing an additional 2,656,100 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of DigitalBridge Group by 78.2% in the fourth quarter. Brown Advisory Inc. now owns 3,658,935 shares of the company's stock worth $41,273,000 after buying an additional 1,605,391 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in DigitalBridge Group by 128.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,302,415 shares of the company's stock valued at $25,971,000 after buying an additional 1,294,275 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its stake in DigitalBridge Group by 28.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 5,575,225 shares of the company's stock valued at $62,889,000 after buying an additional 1,218,901 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

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

DigitalBridge Group Stock Down 3.5%

DBRG stock traded down $0.40 during trading on Tuesday, hitting $11.19. The company had a trading volume of 1,259,301 shares, compared to its average volume of 2,855,155. The firm has a market capitalization of $1.97 billion, a P/E ratio of 373.10, a PEG ratio of 3.46 and a beta of 1.58. DigitalBridge Group, Inc. has a 52-week low of $6.41 and a 52-week high of $17.33. The company has a 50 day simple moving average of $8.72 and a 200-day simple moving average of $10.50.

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

DigitalBridge Group Dividend Announcement

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

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.