Jacobs Levy Equity Management Inc. Buys New Stake in DigitalBridge Group, Inc. (NYSE:DBRG)

Jacobs Levy Equity Management Inc. acquired a new position in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 83,362 shares of the company's stock, valued at approximately $1,178,000.

Other institutional investors have also added to or reduced their stakes in the company. nVerses Capital LLC lifted 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 valued at $30,000 after purchasing an additional 1,900 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of DigitalBridge Group during the 3rd quarter valued at about $34,000. Central Pacific Bank Trust Division bought a new stake in shares of DigitalBridge Group in the third quarter worth approximately $35,000. Blue Trust Inc. raised its holdings in shares of DigitalBridge Group by 179.2% during the third quarter. Blue Trust Inc. now owns 3,752 shares of the company's stock valued at $51,000 after purchasing an additional 2,408 shares during the last quarter. Finally, Headlands Technologies LLC boosted its holdings in DigitalBridge Group by 33,627.3% in the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company's stock worth $102,000 after purchasing an additional 7,398 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DBRG has been the subject of a number of research reports. Keefe, Bruyette & Woods cut DigitalBridge Group from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $17.75 to $14.00 in a research report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their target price on shares of DigitalBridge Group from $22.00 to $23.00 and gave the company an "overweight" rating in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft dropped their price target on shares of DigitalBridge Group from $17.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, August 15th. Truist Financial reduced their price objective on DigitalBridge Group from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company decreased their target price on DigitalBridge Group from $18.00 to $16.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $18.13.

DigitalBridge Group Price Performance

Shares of DBRG stock traded down $0.03 during mid-day trading on Monday, hitting $12.81. The stock had a trading volume of 628,306 shares, compared to its average volume of 2,358,881. The firm has a market capitalization of $2.23 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 14.43 and a beta of 1.89. DigitalBridge Group, Inc. has a 12-month low of $11.07 and a 12-month high of $20.99. The firm's 50-day moving average is $14.04 and its two-hundred day moving average is $13.49.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.01 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.31%. DigitalBridge Group's payout ratio is presently 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.