Lazard Asset Management LLC Takes $9.66 Million Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Lazard Asset Management LLC acquired a new position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 501,376 shares of the company’s stock, valued at approximately $9,661,000.

Several other hedge funds and other institutional investors have also modified their holdings of DBRG. Quarry LP purchased a new stake in shares of DigitalBridge Group during the fourth quarter worth $41,000. CWM LLC raised its holdings in DigitalBridge Group by 59.9% during the fourth quarter. CWM LLC now owns 8,371 shares of the company’s stock valued at $147,000 after buying an additional 3,135 shares in the last quarter. Bfsg LLC acquired a new stake in shares of DigitalBridge Group in the fourth quarter valued at about $171,000. New York State Teachers Retirement System acquired a new stake in shares of DigitalBridge Group in the fourth quarter valued at about $175,000. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of DigitalBridge Group in the first quarter valued at about $216,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

DigitalBridge Group Stock Up 2.1 %

DBRG stock traded up $0.30 during trading on Friday, hitting $14.29. The company had a trading volume of 775,650 shares, compared to its average volume of 1,562,775. The firm has a 50-day moving average price of $13.36 and a 200-day moving average price of $16.42. DigitalBridge Group, Inc. has a 12 month low of $12.12 and a 12 month high of $20.99. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 1.42 and a beta of 2.00.

DigitalBridge Group (NYSE:DBRG) last released its earnings results on Tuesday, April 30th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). DigitalBridge Group had a return on equity of 3.14% and a net margin of 26.64%. The business had revenue of $74.39 million for the quarter, compared to analyst estimates of $100.76 million. Equities analysts expect that DigitalBridge Group, Inc. will post 0.28 EPS for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Sunday, June 30th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Friday, June 28th. DigitalBridge Group’s dividend payout ratio is presently 2.58%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DBRG shares. JPMorgan Chase & Co. lowered their price target on DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $17.00 target price (down from $21.00) on shares of DigitalBridge Group in a research report on Tuesday, June 18th. Truist Financial decreased their target price on DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Royal Bank of Canada reissued an “outperform” rating and set a $19.00 target price on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Finally, B. Riley cut their price target on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $20.54.

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.