Wells Fargo & Company MN Acquires 30,206 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Wells Fargo & Company MN grew its holdings in DigitalBridge Group, Inc. (NYSE:DBRG) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 536,965 shares of the company’s stock after purchasing an additional 30,206 shares during the quarter. Wells Fargo & Company MN’s holdings in DigitalBridge Group were worth $6,057,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC boosted its position in DigitalBridge Group by 364.3% during the third quarter. Barclays PLC now owns 268,326 shares of the company’s stock valued at $3,792,000 after purchasing an additional 210,533 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of DigitalBridge Group by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,167,413 shares of the company’s stock valued at $58,895,000 after buying an additional 317,776 shares in the last quarter. Tidal Investments LLC grew its position in shares of DigitalBridge Group by 22.8% in the 3rd quarter. Tidal Investments LLC now owns 99,995 shares of the company’s stock worth $1,413,000 after buying an additional 18,536 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of DigitalBridge Group by 33.6% during the 3rd quarter. Franklin Resources Inc. now owns 180,369 shares of the company’s stock worth $2,792,000 after acquiring an additional 45,333 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in DigitalBridge Group by 6.1% during the fourth quarter. Nordea Investment Management AB now owns 273,609 shares of the company’s stock valued at $3,114,000 after acquiring an additional 15,830 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Price Performance

NYSE:DBRG opened at $7.95 on Friday. The firm has a market capitalization of $1.39 billion, a P/E ratio of 264.83, a PEG ratio of 3.46 and a beta of 1.68. The company’s fifty day moving average price is $9.38 and its 200-day moving average price is $11.48. DigitalBridge Group, Inc. has a 1-year low of $6.41 and a 1-year high of $17.72.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The business had revenue of $101.55 million during the quarter, compared to analyst estimates of $93.01 million. DigitalBridge Group had a return on equity of 4.29% and a net margin of 10.98%. Equities analysts anticipate that DigitalBridge Group, Inc. will post 0.17 EPS for the current fiscal year.

DigitalBridge Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.50%. DigitalBridge Group’s payout ratio is 133.33%.

Analysts Set New Price Targets

Several research firms have issued reports on DBRG. Wells Fargo & Company lifted their price target 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 reduced their target price on DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. JPMorgan Chase & Co. lowered their price target on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. B. Riley cut their price objective on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, Citizens Jmp upgraded shares of DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, DigitalBridge Group has a consensus rating of “Buy” and an average price target of $16.39.

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.