Norges Bank Buys Shares of 71,100 Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Norges Bank acquired a new position in Bridge Investment Group Holdings Inc. (NYSE:BRDG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 71,100 shares of the company's stock, valued at approximately $597,000. Norges Bank owned approximately 0.06% of Bridge Investment Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BRDG. State Street Corp boosted its position in shares of Bridge Investment Group by 12.0% during the third quarter. State Street Corp now owns 128,711 shares of the company's stock valued at $1,270,000 after purchasing an additional 13,800 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Bridge Investment Group during the 3rd quarter valued at $102,000. XTX Topco Ltd purchased a new stake in shares of Bridge Investment Group in the 3rd quarter worth about $127,000. Geode Capital Management LLC increased its stake in shares of Bridge Investment Group by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 407,709 shares of the company's stock worth $4,026,000 after acquiring an additional 40,975 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Bridge Investment Group by 1.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,286,847 shares of the company's stock valued at $13,383,000 after acquiring an additional 14,235 shares during the period. 52.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Bridge Investment Group from $11.00 to $9.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. UBS Group raised their price objective on Bridge Investment Group from $7.50 to $12.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $10.00 target price (down from $12.00) on shares of Bridge Investment Group in a report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $10.40.

Bridge Investment Group Stock Up 0.7 %

Shares of BRDG traded up $0.06 on Thursday, hitting $8.82. 15,377 shares of the stock traded hands, compared to its average volume of 260,886. Bridge Investment Group Holdings Inc. has a one year low of $6.49 and a one year high of $11.69. The company has a market capitalization of $1.09 billion, a PE ratio of 221.73 and a beta of 1.46. The business has a 50 day simple moving average of $9.14 and a 200 day simple moving average of $9.20. 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 (NYSE:BRDG - Get Free Report) last posted its earnings results on Monday, February 24th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.02. The business had revenue of $81.96 million during the quarter, compared to analyst estimates of $82.02 million. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. As a group, equities analysts forecast that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Bridge Investment Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 annualized dividend and a yield of 4.99%. This is a boost from Bridge Investment Group's previous quarterly dividend of $0.10. Bridge Investment Group's dividend payout ratio is currently 488.89%.

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.