Northwestern Mutual Wealth Management Co. Grows Holdings in DigitalBridge Group, Inc. $DBRG

Northwestern Mutual Wealth Management Co. raised its stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 3,788.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 130,540 shares of the company’s stock after acquiring an additional 127,183 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in DigitalBridge Group were worth $2,002,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in DigitalBridge Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 17,351,817 shares of the company’s stock valued at $266,177,000 after buying an additional 116,360 shares in the last quarter. Portolan Capital Management LLC grew its holdings in DigitalBridge Group by 77.4% during the 3rd quarter. Portolan Capital Management LLC now owns 5,468,226 shares of the company’s stock valued at $63,978,000 after buying an additional 2,386,066 shares in the last quarter. Invesco Ltd. grew its holdings in DigitalBridge Group by 5.5% during the 3rd quarter. Invesco Ltd. now owns 4,049,310 shares of the company’s stock valued at $47,377,000 after buying an additional 212,361 shares in the last quarter. Azora Capital LP grew its holdings in DigitalBridge Group by 62.6% during the 3rd quarter. Azora Capital LP now owns 3,703,734 shares of the company’s stock valued at $43,334,000 after buying an additional 1,425,583 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in DigitalBridge Group by 380.3% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,963,403 shares of the company’s stock valued at $34,672,000 after buying an additional 2,346,446 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on DBRG. Truist Financial assumed coverage on shares of DigitalBridge Group in a report on Tuesday, March 31st. They set a “buy” rating and a $16.00 price objective for the company. Weiss Ratings raised shares of DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, March 2nd. Finally, Raymond James Financial lowered shares of DigitalBridge Group from a “strong-buy” rating to an “underperform” rating in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.00.

DigitalBridge Group Stock Performance

DBRG stock opened at $15.69 on Wednesday. The firm has a fifty day moving average price of $15.54 and a 200 day moving average price of $14.45. DigitalBridge Group, Inc. has a fifty-two week low of $8.94 and a fifty-two week high of $15.72. The firm has a market cap of $2.86 billion, a PE ratio of 32.02 and a beta of 1.49.

DigitalBridge Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. DigitalBridge Group’s dividend payout ratio (DPR) is 8.16%.

DigitalBridge Group Profile

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.