Massachusetts Financial Services Co. MA Sells 177,889 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Massachusetts Financial Services Co. MA reduced its holdings in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,462,743 shares of the company's stock after selling 177,889 shares during the period. Massachusetts Financial Services Co. MA owned 1.99% of DigitalBridge Group worth $39,060,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its stake in shares of DigitalBridge Group by 114.0% in the fourth quarter. Meeder Asset Management Inc. now owns 5,087 shares of the company's stock worth $57,000 after acquiring an additional 2,710 shares during the period. Pictet Asset Management Holding SA boosted its holdings in shares of DigitalBridge Group by 16.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 25,708 shares of the company's stock worth $290,000 after buying an additional 3,634 shares during the last quarter. Norges Bank bought a new stake in DigitalBridge Group during the fourth quarter valued at approximately $7,757,000. Homestead Advisers Corp increased its holdings in DigitalBridge Group by 15.8% during the fourth quarter. Homestead Advisers Corp now owns 319,200 shares of the company's stock valued at $3,601,000 after buying an additional 43,500 shares during the last quarter. Finally, Segall Bryant & Hamill LLC raised its position in DigitalBridge Group by 34.3% in the fourth quarter. Segall Bryant & Hamill LLC now owns 1,185,101 shares of the company's stock worth $13,368,000 after acquiring an additional 302,590 shares during the period. Institutional investors own 92.69% of the company's stock.

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DigitalBridge Group Price Performance

Shares of DigitalBridge Group stock traded down $0.77 on Thursday, reaching $7.20. The company had a trading volume of 919,135 shares, compared to its average volume of 2,528,550. The firm's 50-day moving average price is $9.80 and its two-hundred day moving average price is $11.80. DigitalBridge Group, Inc. has a 1 year low of $5.50 and a 1 year high of $18.82. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 241.00, a P/E/G ratio of 3.46 and a beta of 1.68.

DigitalBridge Group (NYSE:DBRG - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.03. The business had revenue of $101.55 million for the quarter, compared to analysts' expectations of $93.01 million. DigitalBridge Group had a net margin of 10.98% and a return on equity of 4.29%. As a group, analysts anticipate that DigitalBridge Group, Inc. will post 0.17 EPS for the current year.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.01 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.56%. DigitalBridge Group's payout ratio is 133.33%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wells Fargo & Company upped their price objective on DigitalBridge Group from $15.00 to $16.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Truist Financial lowered their price target on shares of DigitalBridge Group from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. JPMorgan Chase & Co. decreased their target price on DigitalBridge Group from $20.00 to $18.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 21st. Citizens Jmp upgraded shares of DigitalBridge Group to a "strong-buy" rating in a report on Monday, January 27th. Finally, JMP Securities started coverage on shares of DigitalBridge Group in a report on Monday, January 27th. They set an "outperform" rating and a $16.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $16.39.

DigitalBridge Group 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.