Massachusetts Financial Services Co. MA Grows Stake in DigitalBridge Group, Inc. (NYSE:DBRG)

Massachusetts Financial Services Co. MA increased its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 16.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,029,913 shares of the company’s stock after purchasing an additional 567,170 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.31% of DigitalBridge Group worth $35,544,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC increased its position in shares of DigitalBridge Group by 384.5% during the fourth quarter. Lazard Asset Management LLC now owns 3,346,966 shares of the company’s stock worth $37,753,000 after purchasing an additional 2,656,100 shares in the last quarter. Lind Value II ApS acquired a new stake in DigitalBridge Group in the 1st quarter valued at about $17,479,000. Brown Advisory Inc. raised its position in shares of DigitalBridge Group by 78.2% during the 4th quarter. Brown Advisory Inc. now owns 3,658,935 shares of the company’s stock valued at $41,273,000 after buying an additional 1,605,391 shares during the period. Balyasny Asset Management L.P. increased its holdings in DigitalBridge Group by 128.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,302,415 shares of the company’s stock valued at $25,971,000 after purchasing an additional 1,294,275 shares during the last quarter. Finally, Frontier Capital Management Co. LLC grew its stake in shares of DigitalBridge Group by 28.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 5,575,225 shares of the company’s stock worth $62,889,000 after acquiring an additional 1,218,901 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on DBRG shares. Keefe, Bruyette & Woods dropped their price target on shares of DigitalBridge Group from $13.50 to $10.50 and set a “market perform” rating on the stock in a research note on Tuesday, May 6th. Wall Street Zen lowered shares of DigitalBridge Group from a “hold” rating to a “sell” rating in a report on Saturday, July 12th. Truist Financial boosted their price target on shares of DigitalBridge Group from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, June 3rd. Finally, JMP Securities restated a “market outperform” rating and issued a $16.00 price target on shares of DigitalBridge Group in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, DigitalBridge Group currently has an average rating of “Moderate Buy” and a consensus target price of $15.94.

DigitalBridge Group Stock Up 0.3%

DigitalBridge Group stock opened at $10.96 on Friday. DigitalBridge Group, Inc. has a 52-week low of $6.41 and a 52-week high of $17.33. The company has a market cap of $1.93 billion, a P/E ratio of 36.52, a P/E/G ratio of 1.24 and a beta of 1.67. The business has a 50-day simple moving average of $10.61 and a two-hundred day simple moving average of $10.06.

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend was Monday, June 30th. DigitalBridge Group’s dividend payout ratio (DPR) is currently 13.33%.

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.