Bridge Investment Group (NYSE:BRDG) Downgraded to Equal Weight Rating by Wells Fargo & Company

Wells Fargo & Company downgraded shares of Bridge Investment Group (NYSE:BRDG) from an overweight rating to an equal weight rating in a report released on Thursday, MarketBeat.com reports. They currently have $11.50 target price on the stock, up from their prior target price of $10.00.

BRDG has been the subject of several other research reports. UBS Group raised their price target on Bridge Investment Group from $7.50 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. reissued a “neutral” rating and set a $10.00 price target (down previously from $12.00) on shares of Bridge Investment Group in a research report on Tuesday, January 7th. Morgan Stanley downgraded Bridge Investment Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $14.00 to $11.00 in a research report on Friday, November 8th. Finally, TD Cowen dropped their price target on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, Bridge Investment Group currently has an average rating of “Hold” and an average target price of $10.90.

Bridge Investment Group Stock Performance

Shares of BRDG stock opened at $10.38 on Thursday. The stock has a fifty day moving average price of $8.17 and a 200 day moving average price of $8.98. The stock has a market cap of $1.26 billion, a PE ratio of 259.44 and a beta of 1.56. Bridge Investment Group has a 1 year low of $6.18 and a 1 year high of $11.69. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.14 and a current ratio of 1.14.

Bridge Investment Group (NYSE:BRDG) last released its quarterly earnings results on Monday, February 24th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $81.96 million during the quarter, compared to the consensus estimate of $82.02 million. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. Sell-side analysts forecast that Bridge Investment Group will post 0.68 earnings per share for the current fiscal year.

Bridge Investment Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.11 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.24%. This is an increase from Bridge Investment Group’s previous quarterly dividend of $0.10. Bridge Investment Group’s payout ratio is currently 1,000.00%.

Insider Activity

In other Bridge Investment Group news, CFO Katherine Elsnab sold 3,078 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total transaction of $25,516.62. Following the completion of the sale, the chief financial officer now owns 303,937 shares of the company’s stock, valued at approximately $2,519,637.73. The trade was a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jonathan Slager sold 11,403 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $94,530.87. Following the sale, the chief executive officer now directly owns 962,481 shares of the company’s stock, valued at approximately $7,978,967.49. This trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 145,187 shares of company stock valued at $1,204,966 over the last quarter. Company insiders own 73.00% of the company’s stock.

Institutional Investors Weigh In On Bridge Investment Group

Institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC grew its position in Bridge Investment Group by 2.3% during the third quarter. Jennison Associates LLC now owns 3,370,882 shares of the company’s stock valued at $33,271,000 after acquiring an additional 74,779 shares during the period. Geode Capital Management LLC grew its position in Bridge Investment Group by 11.2% during the third quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock valued at $4,026,000 after acquiring an additional 40,975 shares during the period. Jane Street Group LLC purchased a new stake in Bridge Investment Group during the third quarter valued at about $102,000. XTX Topco Ltd purchased a new stake in Bridge Investment Group during the third quarter valued at about $127,000. Finally, State Street Corp grew its position in Bridge Investment Group by 12.0% during the third quarter. State Street Corp now owns 128,711 shares of the company’s stock valued at $1,270,000 after acquiring an additional 13,800 shares during the period. Hedge funds and other institutional investors own 52.83% of the company’s stock.

Bridge Investment Group Company Profile

Bridge Investment Group Holdings Inc engages in the real estate investment management business in the United States. It manages capital on behalf of approximately hundred global institutions and 6,500 individual investors across approximately 25 investment vehicles. The company was founded in 2009 and is headquartered in Salt Lake City, Utah.