Jennison Associates LLC Increases Stock Position in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Jennison Associates LLC grew its holdings in Bridge Investment Group Holdings Inc. (NYSE:BRDG - Free Report) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,370,882 shares of the company's stock after acquiring an additional 74,779 shares during the quarter. Jennison Associates LLC owned 2.78% of Bridge Investment Group worth $33,271,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BRDG. 1832 Asset Management L.P. bought a new stake in Bridge Investment Group during the 1st quarter worth $966,000. Quest Partners LLC bought a new stake in Bridge Investment Group during the 3rd quarter worth approximately $448,000. Marshall Wace LLP increased its position in Bridge Investment Group by 22.0% in the 2nd quarter. Marshall Wace LLP now owns 114,769 shares of the company's stock valued at $852,000 after acquiring an additional 20,726 shares during the period. Royce & Associates LP raised its stake in shares of Bridge Investment Group by 1.2% during the third quarter. Royce & Associates LP now owns 773,230 shares of the company's stock valued at $7,632,000 after acquiring an additional 8,909 shares during the last quarter. Finally, Albion Financial Group UT acquired a new position in Bridge Investment Group during the 2nd quarter worth about $37,000. 52.83% of the stock is currently owned by institutional investors and hedge funds.

Bridge Investment Group Price Performance

Bridge Investment Group stock traded down $0.11 during midday trading on Friday, reaching $9.81. 103,616 shares of the stock were exchanged, compared to its average volume of 240,770. The company's fifty day moving average is $10.06 and its 200-day moving average is $8.51. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.14 and a current ratio of 1.14. Bridge Investment Group Holdings Inc. has a 52 week low of $6.18 and a 52 week high of $11.69. The firm has a market cap of $1.19 billion, a PE ratio of 248.06 and a beta of 1.63.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.03). Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. The firm had revenue of $101.51 million during the quarter, compared to analysts' expectations of $85.00 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. On average, sell-side analysts forecast that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current year.

Bridge Investment Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.40 annualized dividend and a dividend yield of 4.08%. Bridge Investment Group's payout ratio is presently 1,300.33%.

Analysts Set New Price Targets

Several brokerages have issued reports on BRDG. UBS Group increased their price target on Bridge Investment Group from $7.00 to $11.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. Wells Fargo & Company upped their target price on Bridge Investment Group from $11.00 to $11.50 and gave the company an "overweight" rating in a report on Wednesday, October 9th. TD Cowen lowered their target price on Bridge Investment Group from $10.50 to $10.00 and set a "hold" rating on the stock in a research note on Tuesday, November 12th. Finally, Morgan Stanley downgraded Bridge Investment Group from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $14.00 to $11.00 in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $11.00.

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.