Prime Capital Investment Advisors LLC Acquires New Stake in DigitalBridge Group, Inc. (NYSE:DBRG)

Prime Capital Investment Advisors LLC acquired a new stake in DigitalBridge Group, Inc. (NYSE:DBRG) in the third quarter, Holdings Channel reports. The firm acquired 11,056 shares of the company’s stock, valued at approximately $156,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DBRG. Sei Investments Co. increased its holdings in DigitalBridge Group by 77.9% in the first quarter. Sei Investments Co. now owns 302,856 shares of the company’s stock valued at $5,836,000 after purchasing an additional 132,638 shares during the period. Russell Investments Group Ltd. increased its holdings in DigitalBridge Group by 16.6% in the first quarter. Russell Investments Group Ltd. now owns 120,604 shares of the company’s stock valued at $2,324,000 after purchasing an additional 17,159 shares during the period. ProShare Advisors LLC grew its holdings in DigitalBridge Group by 8.6% during the 1st quarter. ProShare Advisors LLC now owns 29,092 shares of the company’s stock worth $561,000 after acquiring an additional 2,292 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in DigitalBridge Group by 16.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 53,988 shares of the company’s stock worth $1,040,000 after acquiring an additional 7,780 shares during the period. Finally, Vanguard Group Inc. grew its holdings in DigitalBridge Group by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 23,274,328 shares of the company’s stock worth $448,496,000 after acquiring an additional 256,016 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DBRG shares. 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 report on Wednesday, November 6th. JPMorgan Chase & Co. increased their price target on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Raymond James decreased their price target on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 5th. Wells Fargo & Company decreased their price target on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Truist Financial cut their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. One research 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $18.13.

DigitalBridge Group Price Performance

DBRG stock opened at $12.70 on Monday. DigitalBridge Group, Inc. has a 1 year low of $11.07 and a 1 year high of $20.99. The stock has a market capitalization of $2.21 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 2.23 and a beta of 1.94. The company’s 50-day moving average is $14.37 and its 200-day moving average is $13.65.

DigitalBridge Group Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, December 31st. This represents a $0.04 annualized dividend and a yield of 0.31%. DigitalBridge Group’s payout ratio is 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.