Principal Financial Group Inc. Trims Stake in DigitalBridge Group, Inc. (NYSE:DBRG)

Principal Financial Group Inc. cut its position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 29.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,053 shares of the company’s stock after selling 5,096 shares during the quarter. Principal Financial Group Inc.’s holdings in DigitalBridge Group were worth $170,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale acquired a new stake in shares of DigitalBridge Group in the first quarter worth approximately $1,247,000. Manning & Napier Advisors LLC purchased a new position in DigitalBridge Group in the 2nd quarter worth approximately $3,234,000. Comerica Bank boosted its stake in shares of DigitalBridge Group by 2,778.9% in the first quarter. Comerica Bank now owns 154,279 shares of the company’s stock valued at $2,973,000 after purchasing an additional 148,920 shares during the period. Tidal Investments LLC increased its stake in DigitalBridge Group by 377.2% during the 1st quarter. Tidal Investments LLC now owns 58,692 shares of the company’s stock worth $1,131,000 after buying an additional 46,392 shares during the period. Finally, Sei Investments Co. increased its position in shares of DigitalBridge Group by 121.1% during the second quarter. Sei Investments Co. now owns 669,601 shares of the company’s stock worth $9,174,000 after acquiring an additional 366,745 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on DBRG shares. JPMorgan Chase & Co. upped their price target on shares of DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Keefe, Bruyette & Woods cut DigitalBridge Group from an “outperform” rating to a “market perform” rating and cut their target price for the company from $17.75 to $14.00 in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Raymond James cut their price objective on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company decreased 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 equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $18.13.

DigitalBridge Group Trading Up 4.2 %

NYSE DBRG opened at $12.85 on Tuesday. DigitalBridge Group, Inc. has a 1 year low of $11.07 and a 1 year high of $20.99. The stock’s 50-day moving average price is $14.27 and its two-hundred day moving average price is $13.55. The company has a market cap of $2.24 billion, a PE ratio of 17.60, a PEG ratio of 2.17 and a beta of 1.94.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.01 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.31%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 5.48%.

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.