Meeder Asset Management Inc. Acquires 2,710 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Meeder Asset Management Inc. lifted its holdings in DigitalBridge Group, Inc. (NYSE:DBRG) by 114.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,087 shares of the company’s stock after acquiring an additional 2,710 shares during the period. Meeder Asset Management Inc.’s holdings in DigitalBridge Group were worth $57,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pictet Asset Management Holding SA boosted its stake in DigitalBridge Group by 16.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 25,708 shares of the company’s stock worth $290,000 after purchasing an additional 3,634 shares during the period. Norges Bank purchased a new position in shares of DigitalBridge Group in the fourth quarter worth $7,757,000. Homestead Advisers Corp boosted its position in shares of DigitalBridge Group by 15.8% during the fourth quarter. Homestead Advisers Corp now owns 319,200 shares of the company’s stock worth $3,601,000 after acquiring an additional 43,500 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in DigitalBridge Group by 34.3% during the fourth quarter. Segall Bryant & Hamill LLC now owns 1,185,101 shares of the company’s stock valued at $13,368,000 after acquiring an additional 302,590 shares in the last quarter. Finally, Fox Run Management L.L.C. grew its stake in DigitalBridge Group by 193.3% during the fourth quarter. Fox Run Management L.L.C. now owns 56,911 shares of the company’s stock valued at $642,000 after acquiring an additional 37,506 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Stock Performance

NYSE DBRG opened at $8.84 on Wednesday. The business’s 50 day moving average price is $10.34 and its 200-day moving average price is $12.14. DigitalBridge Group, Inc. has a fifty-two week low of $8.63 and a fifty-two week high of $19.12. The company has a market cap of $1.54 billion, a P/E ratio of 294.50, a P/E/G ratio of 3.46 and a beta of 1.91.

DigitalBridge Group (NYSE:DBRG) last announced its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The business had revenue of $101.55 million for the quarter, compared to the consensus estimate of $93.01 million. DigitalBridge Group had a net margin of 10.98% and a return on equity of 4.29%. As a group, equities analysts predict that DigitalBridge Group, Inc. will post 0.17 EPS for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.45%. DigitalBridge Group’s dividend payout ratio is 133.33%.

Analysts Set New Price Targets

Several analysts have commented on DBRG shares. Citizens Jmp upgraded shares of DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods decreased their target price on DigitalBridge Group from $14.00 to $13.50 and set a “market perform” rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company raised their price target on DigitalBridge Group from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, February 24th. B. Riley reduced their price objective on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Finally, Truist Financial lowered their target price on DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, DigitalBridge Group has an average rating of “Buy” and a consensus price target of $16.39.

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.