Meeder Asset Management Inc. Takes Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Meeder Asset Management Inc. bought a new position in DigitalBridge Group, Inc. (NYSE:DBRG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,377 shares of the company’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. DekaBank Deutsche Girozentrale purchased a new stake in shares of DigitalBridge Group in the first quarter worth approximately $1,247,000. Manning & Napier Advisors LLC acquired a new position in DigitalBridge Group in the 2nd quarter valued at approximately $3,234,000. Comerica Bank lifted its position in DigitalBridge Group by 2,778.9% in the 1st quarter. Comerica Bank now owns 154,279 shares of the company’s stock worth $2,973,000 after buying an additional 148,920 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of DigitalBridge Group by 377.2% during the 1st quarter. Tidal Investments LLC now owns 58,692 shares of the company’s stock valued at $1,131,000 after acquiring an additional 46,392 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of DigitalBridge Group by 121.1% in 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 owned by institutional investors and hedge funds.

DigitalBridge Group Trading Up 1.1 %

Shares of NYSE DBRG opened at $11.88 on Friday. The stock has a 50-day moving average price of $14.33 and a two-hundred day moving average price of $13.60. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 2.17 and a beta of 1.94. DigitalBridge Group, Inc. has a 12 month low of $11.07 and a 12 month high of $20.99.

DigitalBridge Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio (DPR) is 5.48%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Raymond James reduced their price objective on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price target on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Keefe, Bruyette & Woods cut DigitalBridge Group from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $17.75 to $14.00 in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company decreased their price target on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, DigitalBridge Group currently has an average rating of “Buy” and an average price target of $18.13.

DigitalBridge Group Company Profile

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.