The Manufacturers Life Insurance Company Cuts Stake in DigitalBridge Group, Inc. $DBRG

The Manufacturers Life Insurance Company lowered its stake in shares of DigitalBridge Group, Inc. (NYSE:DBRGFree Report) by 39.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,960 shares of the company’s stock after selling 33,956 shares during the period. The Manufacturers Life Insurance Company’s holdings in DigitalBridge Group were worth $817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Pentwater Capital Management LP bought a new position in shares of DigitalBridge Group during the fourth quarter worth $176,410,000. Kryger Capital LLC bought a new stake in DigitalBridge Group in the 1st quarter valued at $102,736,000. KRYGER CAPITAL Ltd purchased a new stake in DigitalBridge Group in the 4th quarter worth $75,234,000. Soros Fund Management LLC purchased a new stake in DigitalBridge Group in the 4th quarter worth $36,816,000. Finally, Toronto Dominion Bank bought a new position in shares of DigitalBridge Group during the 4th quarter valued at about $36,326,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Stock Down 0.2%

DigitalBridge Group stock opened at $15.90 on Friday. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 10.33 and a beta of 1.47. The firm’s fifty day moving average is $15.79 and its 200 day moving average is $15.61. DigitalBridge Group, Inc. has a 52-week low of $8.94 and a 52-week high of $15.95.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Wednesday, September 30th. DigitalBridge Group’s dividend payout ratio is currently 2.60%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded DigitalBridge Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, DigitalBridge Group has a consensus rating of “Hold” and an average price target of $16.00.

View Our Latest Stock Analysis on DigitalBridge Group

DigitalBridge Group Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for DigitalBridge Group (NYSE:DBRG)

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