Bridge Investment Group (NYSE:BRDG) Earns Neutral Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Bridge Investment Group (NYSE:BRDG) in a research report report published on Tuesday morning, MarketBeat reports. JPMorgan Chase & Co. currently has a $10.00 price target on the stock, down from their prior price target of $12.00.

Other equities analysts have also recently issued research reports about the company. UBS Group lifted their target price on Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company boosted their price objective on shares of Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. TD Cowen decreased their target price on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, November 12th. Finally, Morgan Stanley cut shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $14.00 to $11.00 in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.70.

Bridge Investment Group Stock Down 10.0 %

BRDG stock opened at $7.47 on Tuesday. The company’s 50 day simple moving average is $9.43 and its 200-day simple moving average is $8.89. Bridge Investment Group has a 52-week low of $6.18 and a 52-week high of $11.69. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $904.50 million, a P/E ratio of 186.80 and a beta of 1.57.

Bridge Investment Group (NYSE:BRDG) last announced its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). The firm had revenue of $101.51 million for the quarter, compared to analyst estimates of $85.00 million. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. During the same period last year, the firm earned $0.22 earnings per share. As a group, equities research analysts anticipate that Bridge Investment Group will post 0.68 EPS for the current year.

Bridge Investment Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.35%. The ex-dividend date of this dividend was Friday, December 6th. Bridge Investment Group’s dividend payout ratio is 1,000.00%.

Insider Activity

In other Bridge Investment Group news, Chairman Robert Randolph Morse sold 47,252 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $8.31, for a total transaction of $392,664.12. Following the completion of the sale, the chairman now owns 3,157,271 shares of the company’s stock, valued at $26,236,922.01. This represents a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Dean Allara sold 10,877 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $8.31, for a total value of $90,387.87. Following the transaction, the insider now owns 662,473 shares in the company, valued at approximately $5,505,150.63. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,187 shares of company stock worth $1,204,966. 65.90% of the stock is owned by corporate insiders.

Institutional Trading of Bridge Investment Group

Several large investors have recently modified their holdings of the company. Jennison Associates LLC lifted its position in Bridge Investment Group by 2.3% during the 3rd quarter. Jennison Associates LLC now owns 3,370,882 shares of the company’s stock worth $33,271,000 after acquiring an additional 74,779 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Bridge Investment Group by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock worth $411,000 after purchasing an additional 1,735 shares during the last quarter. Geode Capital Management LLC boosted its stake in Bridge Investment Group by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock valued at $4,026,000 after purchasing an additional 40,975 shares during the period. XTX Topco Ltd acquired a new stake in Bridge Investment Group in the 3rd quarter valued at approximately $127,000. Finally, State Street Corp increased its position in Bridge Investment Group by 12.0% in the 3rd quarter. State Street Corp now owns 128,711 shares of the company’s stock worth $1,270,000 after buying an additional 13,800 shares during the period. 52.83% of the stock is owned by institutional investors.

About Bridge Investment Group

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.