Point72 Asset Management L.P. Sells 1,497,843 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Point72 Asset Management L.P. lessened its holdings in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 91.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 131,354 shares of the company's stock after selling 1,497,843 shares during the period. Point72 Asset Management L.P. owned approximately 0.08% of DigitalBridge Group worth $1,856,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. nVerses Capital LLC boosted its holdings in shares of DigitalBridge Group by 633.3% during the second quarter. nVerses Capital LLC now owns 2,200 shares of the company's stock worth $30,000 after purchasing an additional 1,900 shares during the last quarter. Meeder Asset Management Inc. bought a new position in DigitalBridge Group during the 3rd quarter worth $34,000. Central Pacific Bank Trust Division acquired a new position in DigitalBridge Group during the 3rd quarter worth $35,000. Blue Trust Inc. boosted its holdings in shares of DigitalBridge Group by 179.2% in the third quarter. Blue Trust Inc. now owns 3,752 shares of the company's stock valued at $51,000 after acquiring an additional 2,408 shares in the last quarter. Finally, Headlands Technologies LLC boosted its holdings in DigitalBridge Group by 33,627.3% during the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company's stock worth $102,000 after buying an additional 7,398 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DBRG shares. Truist Financial reduced their price target on DigitalBridge Group from $19.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, August 21st. JPMorgan Chase & Co. lifted their target price on DigitalBridge Group from $22.00 to $23.00 and gave the company an "overweight" rating in a research note on Tuesday, October 1st. Raymond James dropped their target price on shares of DigitalBridge Group from $19.00 to $16.00 and set a "strong-buy" rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company lowered their target price on DigitalBridge Group from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on DigitalBridge Group from $17.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $18.13.

DigitalBridge Group Trading Down 0.3 %

Shares of DBRG stock traded down $0.04 during trading on Tuesday, reaching $12.59. 654,118 shares of the company's stock traded hands, compared to its average volume of 2,354,745. The firm's 50-day moving average is $14.01 and its 200 day moving average is $13.49. DigitalBridge Group, Inc. has a 1 year low of $11.07 and a 1 year high of $20.99. The company has a market capitalization of $2.19 billion, a P/E ratio of 17.32, a PEG ratio of 14.43 and a beta of 1.89.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Tuesday, December 31st. DigitalBridge Group's payout ratio is currently 5.48%.

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.