Jennison Associates LLC Has $29.87 Million Holdings in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Jennison Associates LLC lessened its stake in Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,054,378 shares of the company’s stock after selling 29,032 shares during the quarter. Jennison Associates LLC owned 8.93% of Bridge Investment Group worth $29,872,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BRDG. Lord Abbett & CO. LLC boosted its holdings in shares of Bridge Investment Group by 24.6% in the third quarter. Lord Abbett & CO. LLC now owns 756,349 shares of the company’s stock valued at $6,958,000 after buying an additional 149,400 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in Bridge Investment Group during the fourth quarter worth $479,000. Schonfeld Strategic Advisors LLC boosted its holdings in Bridge Investment Group by 22.3% during the third quarter. Schonfeld Strategic Advisors LLC now owns 255,744 shares of the company’s stock worth $2,353,000 after purchasing an additional 46,694 shares during the last quarter. Burgundy Asset Management Ltd. boosted its holdings in Bridge Investment Group by 1.6% during the third quarter. Burgundy Asset Management Ltd. now owns 2,353,336 shares of the company’s stock worth $21,651,000 after purchasing an additional 36,193 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Bridge Investment Group by 1.2% during the third quarter. Vanguard Group Inc. now owns 2,619,156 shares of the company’s stock worth $24,096,000 after purchasing an additional 30,787 shares during the last quarter. Institutional investors and hedge funds own 52.83% of the company’s stock.

Bridge Investment Group Stock Up 5.2 %

Shares of BRDG opened at $6.97 on Thursday. The company’s 50-day moving average is $6.98 and its 200-day moving average is $8.02. Bridge Investment Group Holdings Inc. has a fifty-two week low of $6.18 and a fifty-two week high of $13.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.00 and a quick ratio of 1.00.

Bridge Investment Group (NYSE:BRDG) last released its earnings results on Wednesday, February 21st. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.04). Bridge Investment Group had a negative net margin of 1.73% and a positive return on equity of 9.14%. The firm had revenue of $70.52 million during the quarter, compared to the consensus estimate of $78.55 million. As a group, equities research analysts anticipate that Bridge Investment Group Holdings Inc. will post 0.78 EPS for the current year.

Bridge Investment Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.28 annualized dividend and a yield of 4.02%. Bridge Investment Group’s dividend payout ratio is presently -62.22%.

Wall Street Analyst Weigh In

BRDG has been the subject of several recent research reports. UBS Group reduced their target price on shares of Bridge Investment Group from $9.50 to $6.50 and set a “neutral” rating for the company in a report on Friday, March 15th. JPMorgan Chase & Co. reduced their target price on shares of Bridge Investment Group from $13.50 to $11.50 and set an “overweight” rating for the company in a report on Friday, February 23rd. TD Cowen began coverage on shares of Bridge Investment Group in a research note on Thursday, January 4th. They issued an “outperform” rating and a $11.00 price target for the company. Morgan Stanley cut their price target on shares of Bridge Investment Group from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Monday, February 26th. Finally, Wells Fargo & Company cut their price target on shares of Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.67.

Bridge Investment Group 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.