William Blair Investment Management LLC Cuts Stock Holdings in DigitalBridge Group, Inc. $DBRG

William Blair Investment Management LLC reduced its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 5.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,498,914 shares of the company’s stock after selling 151,206 shares during the period. William Blair Investment Management LLC’s holdings in DigitalBridge Group were worth $29,237,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new stake in DigitalBridge Group during the 3rd quarter worth about $84,000. Captrust Financial Advisors acquired a new position in shares of DigitalBridge Group during the second quarter worth about $109,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of DigitalBridge Group during the second quarter worth approximately $113,000. NEOS Investment Management LLC acquired a new stake in DigitalBridge Group in the third quarter valued at approximately $117,000. Finally, Russell Investments Group Ltd. lifted its stake in DigitalBridge Group by 239.4% in the second quarter. Russell Investments Group Ltd. now owns 11,373 shares of the company’s stock worth $118,000 after acquiring an additional 8,022 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the stock. Keefe, Bruyette & Woods boosted their price target on shares of DigitalBridge Group from $13.50 to $16.00 and gave the stock a “market perform” rating in a report on Tuesday, December 30th. Royal Bank Of Canada downgraded shares of DigitalBridge Group from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $23.00 to $16.00 in a research note on Tuesday, December 30th. Zacks Research raised DigitalBridge Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 5th. TD Cowen downgraded DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a report on Tuesday, December 30th. Finally, Citizens Jmp cut DigitalBridge Group from a “market outperform” rating to a “hold” rating and set a $16.00 price objective for the company. in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $16.00.

DigitalBridge Group Price Performance

NYSE DBRG opened at $15.46 on Tuesday. The firm’s fifty day moving average price is $15.24 and its 200 day moving average price is $12.93. DigitalBridge Group, Inc. has a 12 month low of $6.41 and a 12 month high of $15.55. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 34.36 and a beta of 1.70.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. DigitalBridge Group’s payout ratio is 8.89%.

DigitalBridge Group Company 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.