DigitalBridge Group, Inc. (NYSE:DBRG) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 3.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 90,841 shares of the company’s stock after selling 3,314 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in DigitalBridge Group were worth $1,284,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of DBRG. Massachusetts Financial Services Co. MA acquired a new position in shares of DigitalBridge Group during the second quarter valued at $39,033,000. New South Capital Management Inc. lifted its holdings in DigitalBridge Group by 40.1% in the second quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock worth $53,838,000 after purchasing an additional 1,125,549 shares during the period. Wafra Inc. lifted its holdings in DigitalBridge Group by 7.1% in the second quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock worth $211,745,000 after purchasing an additional 1,020,409 shares during the period. Dimensional Fund Advisors LP lifted its holdings in DigitalBridge Group by 54.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock worth $36,797,000 after purchasing an additional 952,408 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in DigitalBridge Group by 125.4% in the second quarter. Point72 Asset Management L.P. now owns 1,629,197 shares of the company’s stock worth $22,320,000 after purchasing an additional 906,297 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on DBRG. Truist Financial reduced their price objective on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft cut their price target on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Keefe, Bruyette & Woods downgraded shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $17.75 to $14.00 in a report on Wednesday, November 6th. Raymond James cut their price objective on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. 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. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $17.88.

DigitalBridge Group Trading Up 1.2 %

Shares of NYSE DBRG opened at $12.66 on Thursday. The business has a fifty day simple moving average of $13.94 and a 200 day simple moving average of $13.48. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 14.43 and a beta of 1.89. DigitalBridge Group, Inc. has a one year low of $11.07 and a one year high of $20.99.

DigitalBridge Group Announces Dividend

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