Massachusetts Financial Services Co. MA Acquires 791,506 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Massachusetts Financial Services Co. MA grew its holdings in DigitalBridge Group, Inc. (NYSE:DBRG) by 27.8% during the 3rd quarter, Holdings Channel reports. The fund owned 3,640,632 shares of the company’s stock after buying an additional 791,506 shares during the period. Massachusetts Financial Services Co. MA’s holdings in DigitalBridge Group were worth $51,442,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. nVerses Capital LLC raised its holdings in DigitalBridge Group by 633.3% in the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after purchasing an additional 1,900 shares during the period. Meeder Asset Management Inc. bought a new position in shares of DigitalBridge Group in the third quarter worth about $34,000. Central Pacific Bank Trust Division purchased a new position in shares of DigitalBridge Group during the 3rd quarter valued at about $35,000. Blue Trust Inc. grew its stake in shares of DigitalBridge Group by 179.2% during the 3rd quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock valued at $51,000 after acquiring an additional 2,408 shares during the period. Finally, Headlands Technologies LLC increased its holdings in DigitalBridge Group by 33,627.3% in the 2nd quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock worth $102,000 after acquiring an additional 7,398 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Stock Performance

NYSE DBRG opened at $12.33 on Monday. The business’s 50 day moving average price is $14.30 and its 200-day moving average price is $13.56. DigitalBridge Group, Inc. has a fifty-two week low of $11.07 and a fifty-two week high of $20.99. The company has a market cap of $2.15 billion, a P/E ratio of 16.89, a P/E/G ratio of 2.11 and a beta of 1.94.

DigitalBridge Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio is currently 5.48%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DBRG shares. Truist Financial reduced their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Keefe, Bruyette & Woods cut DigitalBridge Group from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $17.75 to $14.00 in a report on Wednesday, November 6th. JPMorgan Chase & Co. upped their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft decreased their target price on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Wells Fargo & Company dropped their price target on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $18.13.

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.