William Blair Investment Management LLC Raises Stake in DigitalBridge Group, Inc. (NYSE:DBRG)

William Blair Investment Management LLC boosted its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 27.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,003,062 shares of the company’s stock after purchasing an additional 643,705 shares during the period. William Blair Investment Management LLC’s holdings in DigitalBridge Group were worth $33,875,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Horizon Kinetics Asset Management LLC lifted its holdings in DigitalBridge Group by 868.9% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 4,483,340 shares of the company’s stock valued at $50,572,000 after acquiring an additional 4,020,627 shares during the period. TCTC Holdings LLC lifted its holdings in DigitalBridge Group by 36.9% in the fourth quarter. TCTC Holdings LLC now owns 125,779 shares of the company’s stock valued at $1,419,000 after acquiring an additional 33,901 shares during the period. Cibc World Markets Corp acquired a new position in DigitalBridge Group in the fourth quarter valued at approximately $168,000. Corient Private Wealth LLC acquired a new position in DigitalBridge Group in the fourth quarter valued at approximately $290,000. Finally, one8zero8 LLC acquired a new position in DigitalBridge Group in the fourth quarter valued at approximately $122,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Stock Performance

Shares of DBRG opened at $9.71 on Wednesday. DigitalBridge Group, Inc. has a one year low of $8.95 and a one year high of $19.49. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 323.53, a PEG ratio of 3.46 and a beta of 1.91. The stock has a 50 day moving average price of $10.69 and a 200 day moving average price of $12.37.

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

DigitalBridge Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Monday, March 31st. DigitalBridge Group’s payout ratio is 133.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Truist Financial decreased their price target on DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Wells Fargo & Company boosted 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. JPMorgan Chase & Co. decreased their price target on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. B. Riley reduced their target price on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods reduced their target price on DigitalBridge Group from $14.00 to $13.50 and set a “market perform” rating for the company in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $16.61.

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.