DigitalBridge Group, Inc. (NYSE:DBRG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 29.7% during the third quarter, Holdings Channel.com reports. The fund owned 12,053 shares of the company’s stock after selling 5,096 shares during the period. Principal Financial Group Inc.’s holdings in DigitalBridge Group were worth $170,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of DigitalBridge Group by 24.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,364,524 shares of the company’s stock worth $19,281,000 after acquiring an additional 271,853 shares during the last quarter. Geode Capital Management LLC lifted its holdings in 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 purchasing an additional 317,776 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in DigitalBridge Group by 101.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 314,557 shares of the company’s stock worth $4,445,000 after purchasing an additional 158,790 shares during the last quarter. Horizon Kinetics Asset Management LLC purchased a new stake in shares of DigitalBridge Group during the third quarter worth $6,538,000. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of DigitalBridge Group by 482.6% during the third quarter. Rockefeller Capital Management L.P. now owns 144,772 shares of the company’s stock worth $2,046,000 after buying an additional 119,922 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Stock Down 3.4 %

DBRG opened at $10.96 on Wednesday. DigitalBridge Group, Inc. has a 52 week low of $10.55 and a 52 week high of $20.99. The business’s 50 day moving average is $12.29 and its two-hundred day moving average is $13.26. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 13.76 and a beta of 1.91.

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 of this dividend is Tuesday, December 31st. This represents a $0.04 annualized dividend and a yield of 0.36%. DigitalBridge Group’s dividend payout ratio (DPR) is 5.48%.

Analyst Ratings Changes

A number of research firms have weighed in on DBRG. B. Riley decreased their target price on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday. Raymond James reduced their price objective on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company dropped their target price on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Keefe, Bruyette & Woods lowered DigitalBridge Group from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $17.75 to $14.00 in a report on Wednesday, November 6th. Finally, Truist Financial lowered their price target on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $17.38.

DigitalBridge Group 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.