Independent Advisor Alliance Sells 1,945 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Independent Advisor Alliance reduced its position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 15.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,972 shares of the company’s stock after selling 1,945 shares during the quarter. Independent Advisor Alliance’s holdings in DigitalBridge Group were worth $155,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in DigitalBridge Group by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 99,153 shares of the company’s stock worth $1,911,000 after purchasing an additional 5,907 shares during the period. Tidal Investments LLC lifted its position in shares of DigitalBridge Group by 377.2% during the 1st quarter. Tidal Investments LLC now owns 58,692 shares of the company’s stock valued at $1,131,000 after buying an additional 46,392 shares in the last quarter. Comerica Bank grew its stake in shares of DigitalBridge Group by 2,778.9% during the 1st quarter. Comerica Bank now owns 154,279 shares of the company’s stock valued at $2,973,000 after acquiring an additional 148,920 shares during the period. Boston Partners increased its holdings in DigitalBridge Group by 169.7% in the 1st quarter. Boston Partners now owns 48,978 shares of the company’s stock worth $944,000 after acquiring an additional 30,816 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in DigitalBridge Group during the 1st quarter worth approximately $1,247,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Price Performance

Shares of DBRG opened at $13.10 on Friday. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 8.20 and a beta of 1.94. DigitalBridge Group, Inc. has a 1 year low of $11.07 and a 1 year high of $20.99. The business’s 50 day simple moving average is $14.20 and its 200-day simple moving average is $13.53.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.04 annualized dividend and a yield of 0.31%. DigitalBridge Group’s dividend payout ratio (DPR) is currently 5.48%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DBRG shares. Truist Financial reduced their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Raymond James decreased their price target on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Wells Fargo & Company decreased their target price on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $18.13.

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.