Wells Fargo & Company MN Sells 68,924 Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Wells Fargo & Company MN reduced its stake in Bridge Investment Group Holdings Inc. (NYSE:BRDG - Free Report) by 27.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 185,991 shares of the company's stock after selling 68,924 shares during the period. Wells Fargo & Company MN owned 0.15% of Bridge Investment Group worth $1,562,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BRDG. Royce & Associates LP increased its stake in Bridge Investment Group by 29.3% in the fourth quarter. Royce & Associates LP now owns 999,626 shares of the company's stock valued at $8,397,000 after purchasing an additional 226,396 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Bridge Investment Group by 322.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 280,196 shares of the company's stock valued at $2,354,000 after buying an additional 213,857 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Bridge Investment Group by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 3,481,145 shares of the company's stock valued at $29,242,000 after buying an additional 208,022 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Bridge Investment Group by 204.5% during the fourth quarter. Bank of New York Mellon Corp now owns 191,341 shares of the company's stock valued at $1,607,000 after buying an additional 128,505 shares during the last quarter. Finally, Norges Bank purchased a new position in Bridge Investment Group during the fourth quarter worth about $597,000. 52.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Bridge Investment Group from $7.50 to $12.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $10.00 price objective (down previously from $12.00) on shares of Bridge Investment Group in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company lowered 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 research report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $10.40.

Bridge Investment Group Stock Performance

Shares of BRDG stock traded up $0.13 during trading on Tuesday, reaching $9.72. 138,474 shares of the company's stock traded hands, compared to its average volume of 261,687. The company has a market capitalization of $1.20 billion, a P/E ratio of 243.16 and a beta of 1.46. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86. The firm's 50-day moving average is $9.35 and its 200 day moving average is $9.15. Bridge Investment Group Holdings Inc. has a 1 year low of $6.56 and a 1 year high of $11.69.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. The company had revenue of $81.96 million for the quarter, compared to analysts' expectations of $82.02 million. Equities research analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current year.

Bridge Investment Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.11 per share. This is a positive change from Bridge Investment Group's previous quarterly dividend of $0.10. The ex-dividend date was Friday, March 14th. This represents a $0.44 annualized dividend and a yield of 4.52%. Bridge Investment Group's dividend payout ratio (DPR) is currently 488.89%.

About Bridge Investment Group

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.