Nordea Investment Management AB Grows Stake in DigitalBridge Group, Inc. (NYSE:DBRG)

Nordea Investment Management AB raised its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 273,609 shares of the company’s stock after purchasing an additional 15,830 shares during the quarter. Nordea Investment Management AB owned about 0.16% of DigitalBridge Group worth $3,114,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its position in shares of DigitalBridge Group by 28.1% during the second quarter. Commonwealth Equity Services LLC now owns 20,760 shares of the company’s stock worth $284,000 after acquiring an additional 4,560 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of DigitalBridge Group by 4.1% during the second quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock worth $304,000 after acquiring an additional 870 shares during the last quarter. Arizona State Retirement System increased its position in shares of DigitalBridge Group by 1.9% during the second quarter. Arizona State Retirement System now owns 45,735 shares of the company’s stock worth $627,000 after acquiring an additional 872 shares during the last quarter. Headlands Technologies LLC increased its position in shares of DigitalBridge Group by 33,627.3% during the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock worth $102,000 after acquiring an additional 7,398 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of DigitalBridge Group by 65.9% during the second quarter. American Century Companies Inc. now owns 79,368 shares of the company’s stock worth $1,087,000 after acquiring an additional 31,530 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DBRG has been the subject of a number of research reports. Keefe, Bruyette & Woods downgraded DigitalBridge Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $17.75 to $14.00 in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upped their target price 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 cut their price target 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. Truist Financial cut their price target on DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Finally, B. Riley cut their price target on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, DigitalBridge Group presently has an average rating of “Buy” and an average target price of $17.38.

DigitalBridge Group Stock Performance

NYSE:DBRG opened at $10.61 on Friday. The stock’s fifty day moving average price is $12.03 and its two-hundred day moving average price is $13.20. DigitalBridge Group, Inc. has a 52-week low of $10.50 and a 52-week high of $20.99. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 13.76 and a beta of 1.91.

DigitalBridge Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio is currently 5.48%.

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.