Jennison Associates LLC Buys Shares of 44,825 DigitalBridge Group, Inc. (NYSE:DBRG)

Jennison Associates LLC purchased a new position in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 44,825 shares of the company's stock, valued at approximately $506,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DBRG. The Manufacturers Life Insurance Company lifted its stake in shares of DigitalBridge Group by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 94,155 shares of the company's stock worth $1,290,000 after acquiring an additional 4,005 shares during the period. Truist Financial Corp acquired a new stake in DigitalBridge Group in the second quarter valued at about $476,000. Cetera Investment Advisers lifted its position in DigitalBridge Group by 3.5% in the second quarter. Cetera Investment Advisers now owns 81,447 shares of the company's stock valued at $1,116,000 after purchasing an additional 2,747 shares during the period. Handelsbanken Fonder AB boosted its holdings in DigitalBridge Group by 34.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 46,600 shares of the company's stock valued at $658,000 after purchasing an additional 12,000 shares in the last quarter. Finally, Creative Planning increased its position in DigitalBridge Group by 264.9% during the 3rd quarter. Creative Planning now owns 68,036 shares of the company's stock worth $961,000 after purchasing an additional 49,392 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

DigitalBridge Group Price Performance

Shares of NYSE DBRG traded down $0.08 on Tuesday, hitting $10.50. The company's stock had a trading volume of 2,172,606 shares, compared to its average volume of 2,195,471. The stock has a 50 day moving average of $11.34 and a 200-day moving average of $12.79. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 2.95 and a beta of 1.91. DigitalBridge Group, Inc. has a 12-month low of $10.24 and a 12-month high of $20.99.

Analyst Upgrades and Downgrades

Several analysts have recently commented on DBRG shares. Truist Financial reduced their price target on DigitalBridge Group from $17.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, December 11th. Keefe, Bruyette & Woods lowered shares of DigitalBridge Group from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $17.75 to $14.00 in a research report on Wednesday, November 6th. B. Riley reduced their price objective on shares of DigitalBridge Group from $24.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company decreased their price objective on shares of DigitalBridge Group from $18.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Finally, 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 report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $16.67.

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.