Geode Capital Management LLC Raises Stock Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Geode Capital Management LLC boosted its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 8.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,167,413 shares of the company’s stock after purchasing an additional 317,776 shares during the quarter. Geode Capital Management LLC’s holdings in DigitalBridge Group were worth $58,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. nVerses Capital LLC increased its holdings in shares of DigitalBridge Group by 633.3% in the second 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 DigitalBridge Group in the 3rd quarter worth about $34,000. Central Pacific Bank Trust Division purchased a new stake in shares of DigitalBridge Group in the 3rd quarter valued at about $35,000. Blue Trust Inc. boosted its position 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 last quarter. Finally, Headlands Technologies LLC increased its position in shares of DigitalBridge Group by 33,627.3% in the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock worth $102,000 after purchasing an additional 7,398 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

DigitalBridge Group Price Performance

Shares of DBRG stock opened at $11.05 on Friday. The business has a 50-day moving average of $13.49 and a 200 day moving average of $13.40. DigitalBridge Group, Inc. has a 1-year low of $10.99 and a 1-year high of $20.99. The stock has a market capitalization of $1.92 billion, a PE ratio of 15.14, a P/E/G ratio of 13.76 and a beta of 1.89.

DigitalBridge Group Announces Dividend

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 issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio is 5.48%.

Analyst Ratings Changes

DBRG has been the subject of several research analyst reports. Raymond James dropped their target price on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods lowered shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $17.75 to $14.00 in a research report on Wednesday, November 6th. JPMorgan Chase & Co. raised their price target on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Wells Fargo & Company cut their price objective on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Truist Financial decreased their price objective on DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $17.88.

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.