Senator Investment Group LP Sells 986,492 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Senator Investment Group LP decreased its position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 84.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 180,162 shares of the company’s stock after selling 986,492 shares during the period. Senator Investment Group LP’s holdings in DigitalBridge Group were worth $2,032,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of DigitalBridge Group by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,167,413 shares of the company’s stock valued at $58,895,000 after buying an additional 317,776 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in DigitalBridge Group by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,030,657 shares of the company’s stock valued at $34,186,000 after acquiring an additional 99,891 shares during the period. Barclays PLC lifted its position in shares of DigitalBridge Group by 364.3% in the third quarter. Barclays PLC now owns 268,326 shares of the company’s stock valued at $3,792,000 after acquiring an additional 210,533 shares in the last quarter. Horizon Kinetics Asset Management LLC boosted its stake in shares of 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 worth $50,572,000 after acquiring an additional 4,020,627 shares during the period. Finally, OFI Invest Asset Management purchased a new stake in shares of DigitalBridge Group during the fourth quarter worth about $305,000. 92.69% of the stock is currently owned by institutional investors.

DigitalBridge Group Stock Performance

NYSE DBRG opened at $7.95 on Monday. The business’s 50 day moving average price is $9.38 and its 200-day moving average price is $11.46. DigitalBridge Group, Inc. has a fifty-two week low of $6.41 and a fifty-two week high of $17.72. The company has a market cap of $1.39 billion, a P/E ratio of 264.83, a P/E/G ratio of 3.46 and a beta of 1.68.

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. DigitalBridge Group had a net margin of 10.98% and a return on equity of 4.29%. The business had revenue of $101.55 million for the quarter, compared to the consensus estimate of $93.01 million. As a group, equities analysts predict that DigitalBridge Group, Inc. will post 0.17 EPS for the current year.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.01 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.50%. DigitalBridge Group’s payout ratio is 133.33%.

Analyst Ratings Changes

DBRG has been the subject of several recent analyst reports. Wells Fargo & Company upped their price target on DigitalBridge Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. reduced their price target on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. JMP Securities began coverage on shares of DigitalBridge Group in a report on Monday, January 27th. They set an “outperform” rating and a $16.00 price objective for the company. Truist Financial reduced their target price on DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Finally, B. Riley dropped their price target 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. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $16.39.

DigitalBridge Group Company 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.