Meeder Asset Management Inc. Increases Stake in DigitalBridge Group, Inc. (NYSE:DBRG)

Meeder Asset Management Inc. grew its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 114.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,087 shares of the company’s stock after buying an additional 2,710 shares during the period. Meeder Asset Management Inc.’s holdings in DigitalBridge Group were worth $57,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Horizon Kinetics Asset Management LLC raised 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 worth $50,572,000 after acquiring an additional 4,020,627 shares during the last quarter. State Street Corp increased its holdings in shares of DigitalBridge Group by 12.0% in the 3rd quarter. State Street Corp now owns 4,427,379 shares of the company’s stock worth $62,603,000 after purchasing an additional 474,101 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of DigitalBridge Group by 8.3% in the third quarter. Geode Capital Management LLC now owns 4,167,413 shares of the company’s stock worth $58,895,000 after purchasing an additional 317,776 shares during the last quarter. New South Capital Management Inc. lifted its holdings in shares of DigitalBridge Group by 2.9% during the fourth quarter. New South Capital Management Inc. now owns 4,055,232 shares of the company’s stock valued at $45,743,000 after purchasing an additional 115,029 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of DigitalBridge Group by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,030,657 shares of the company’s stock valued at $34,186,000 after buying an additional 99,891 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DBRG. JMP Securities initiated coverage on DigitalBridge Group in a research report on Monday, January 27th. They issued an “outperform” rating and a $16.00 target price for the company. B. Riley lowered their price objective on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company raised their target price on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Truist Financial decreased their target price on shares of DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. Finally, Keefe, Bruyette & Woods dropped their price target on DigitalBridge Group from $14.00 to $13.50 and set a “market perform” rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, DigitalBridge Group has an average rating of “Buy” and an average price target of $16.39.

DigitalBridge Group Stock Performance

Shares of DigitalBridge Group stock opened at $8.84 on Wednesday. The stock has a market cap of $1.54 billion, a P/E ratio of 294.50, a P/E/G ratio of 3.46 and a beta of 1.91. The stock’s fifty day moving average is $10.34 and its 200 day moving average is $12.14. DigitalBridge Group, Inc. has a one year low of $8.63 and a one year high of $19.12.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. DigitalBridge Group had a return on equity of 4.29% and a net margin of 10.98%. The firm had revenue of $101.55 million for the quarter, compared to the consensus estimate of $93.01 million. Analysts predict that DigitalBridge Group, Inc. will post 0.17 EPS for the current year.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, March 31st. DigitalBridge Group’s payout ratio is 133.33%.

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.