Bridge Investment Group (NYSE:BRDG) Price Target Lowered to $11.00 at Wells Fargo & Company

Bridge Investment Group (NYSE:BRDG) had its price target reduced by Wells Fargo & Company from $11.50 to $11.00 in a research report released on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also recently weighed in on BRDG. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $10.00 target price (down from $12.00) on shares of Bridge Investment Group in a report on Tuesday, January 7th. UBS Group upped their price objective on shares of Bridge Investment Group from $7.50 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Bridge Investment Group has an average rating of “Hold” and an average target price of $10.80.

Bridge Investment Group Stock Performance

Shares of NYSE:BRDG opened at $10.10 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 252.61 and a beta of 1.47. Bridge Investment Group has a 12 month low of $6.31 and a 12 month high of $11.69. The firm’s 50-day moving average is $8.65 and its 200 day moving average is $9.18.

Bridge Investment Group (NYSE:BRDG) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. The firm had revenue of $81.96 million during the quarter, compared to analyst estimates of $82.02 million. Research analysts predict that Bridge Investment Group will post 0.68 EPS for the current year.

Bridge Investment Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Bridge Investment Group’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 4.36%. Bridge Investment Group’s dividend payout ratio (DPR) is currently 488.89%.

Insider Buying and Selling at Bridge Investment Group

In related news, Chairman Robert Randolph Morse sold 45,343 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $375,893.47. Following the completion of the transaction, the chairman now directly owns 3,249,076 shares in the company, valued at $26,934,840.04. The trade was a 1.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Dean Allara sold 10,438 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total transaction of $86,531.02. Following the completion of the transaction, the insider now owns 683,606 shares of the company’s stock, valued at approximately $5,667,093.74. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,187 shares of company stock valued at $1,204,966. 65.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Bridge Investment Group

A number of hedge funds have recently made changes to their positions in the company. FMR LLC boosted its stake in Bridge Investment Group by 288.0% during the 3rd quarter. FMR LLC now owns 1,509,690 shares of the company’s stock worth $14,901,000 after purchasing an additional 1,120,549 shares during the last quarter. Royce & Associates LP boosted its position in Bridge Investment Group by 29.3% during the fourth quarter. Royce & Associates LP now owns 999,626 shares of the company’s stock worth $8,397,000 after acquiring an additional 226,396 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Bridge Investment Group by 322.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 280,196 shares of the company’s stock valued at $2,354,000 after acquiring an additional 213,857 shares in the last quarter. Vanguard Group Inc. raised its holdings in Bridge Investment Group by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 3,481,145 shares of the company’s stock valued at $29,242,000 after acquiring an additional 208,022 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in Bridge Investment Group by 17.2% in the 4th quarter. Lord Abbett & CO. LLC now owns 964,060 shares of the company’s stock worth $8,098,000 after purchasing an additional 141,178 shares in the last quarter. Institutional investors and hedge funds own 52.83% of the company’s stock.

Bridge Investment Group Company Profile

Bridge Investment Group Holdings Inc engages in the real estate investment management business in the United States. It manages capital on behalf of approximately hundred global institutions and 6,500 individual investors across approximately 25 investment vehicles. The company was founded in 2009 and is headquartered in Salt Lake City, Utah.