Bridge Investment Group Holdings Inc. (NYSE:BRDG) Stake Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG - Free Report) by 204.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 191,341 shares of the company's stock after acquiring an additional 128,505 shares during the quarter. Bank of New York Mellon Corp owned about 0.16% of Bridge Investment Group worth $1,607,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BRDG. Y Intercept Hong Kong Ltd acquired a new position in Bridge Investment Group during the fourth quarter worth approximately $221,000. Jennison Associates LLC increased its holdings in shares of Bridge Investment Group by 0.9% during the 4th quarter. Jennison Associates LLC now owns 3,402,475 shares of the company's stock worth $28,581,000 after buying an additional 31,593 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Bridge Investment Group by 1.1% in the 3rd quarter. Franklin Resources Inc. now owns 1,286,847 shares of the company's stock worth $13,383,000 after buying an additional 14,235 shares during the period. Geode Capital Management LLC boosted its holdings in Bridge Investment Group by 11.2% in the third quarter. Geode Capital Management LLC now owns 407,709 shares of the company's stock valued at $4,026,000 after acquiring an additional 40,975 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Bridge Investment Group during the third quarter valued at about $127,000. 52.83% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other Bridge Investment Group news, COO Adam O'farrell sold 6,655 shares of Bridge Investment Group stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $55,169.95. Following the transaction, the chief operating officer now owns 551,512 shares in the company, valued at approximately $4,572,034.48. The trade was a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Dean Allara sold 10,438 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $86,531.02. Following the completion of the transaction, the insider now directly owns 683,606 shares in the company, valued at $5,667,093.74. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 145,187 shares of company stock worth $1,204,966. 73.00% of the stock is owned by company insiders.

Bridge Investment Group Stock Performance

Shares of BRDG traded down $0.22 during trading hours on Wednesday, reaching $10.14. 350,700 shares of the company's stock traded hands, compared to its average volume of 247,449. Bridge Investment Group Holdings Inc. has a twelve month low of $6.31 and a twelve month high of $11.69. The business's fifty day simple moving average is $8.78 and its two-hundred day simple moving average is $9.22. 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 $1.26 billion, a price-to-earnings ratio of 253.44 and a beta of 1.47.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.02. The company had revenue of $81.96 million for the quarter, compared to the consensus estimate of $82.02 million. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. Analysts predict that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current year.

Bridge Investment Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.11 per share. This is a positive change from Bridge Investment Group's previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Friday, March 14th. Bridge Investment Group's dividend payout ratio (DPR) is presently 488.89%.

Analysts Set New Price Targets

Several research firms have recently issued reports on BRDG. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $10.00 price objective (down previously from $12.00) on shares of Bridge Investment Group in a research report on Tuesday, January 7th. UBS Group raised their price objective on Bridge Investment Group from $7.50 to $12.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their target price on Bridge Investment Group from $11.50 to $11.00 and set an "equal weight" rating for the company in a research report on Thursday, March 20th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $10.80.

Bridge Investment Group Company Profile

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.