S&CO Inc. Sells 172,500 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

S&CO Inc. reduced its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 88.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,000 shares of the company’s stock after selling 172,500 shares during the period. S&CO Inc.’s holdings in DigitalBridge Group were worth $259,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Potrero Capital Research LLC bought a new stake in DigitalBridge Group in the third quarter valued at $20,201,000. Massachusetts Financial Services Co. MA boosted its stake in shares of DigitalBridge Group by 27.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,640,632 shares of the company’s stock valued at $51,442,000 after purchasing an additional 791,506 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of DigitalBridge Group in the 3rd quarter worth about $9,757,000. Clearline Capital LP bought a new stake in shares of DigitalBridge Group in the 3rd quarter worth about $7,468,000. Finally, Azora Capital LP acquired a new stake in shares of DigitalBridge Group during the 3rd quarter worth about $7,303,000. 92.69% of the stock is owned by institutional investors and hedge funds.

DigitalBridge Group Stock Down 7.7 %

Shares of DBRG stock opened at $9.10 on Tuesday. The stock has a 50-day moving average price of $10.91 and a 200 day moving average price of $12.51. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 303.17, a PEG ratio of 3.46 and a beta of 1.91. DigitalBridge Group, Inc. has a 12 month low of $9.06 and a 12 month high of $19.49.

DigitalBridge Group (NYSE:DBRG) last issued its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. The company had revenue of $101.55 million for the quarter, compared to analyst estimates of $93.01 million. DigitalBridge Group had a net margin of 10.98% and a return on equity of 4.29%. Sell-side analysts predict that DigitalBridge Group, Inc. will post 0.17 earnings per share for the current fiscal year.

DigitalBridge Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, March 31st. DigitalBridge Group’s payout ratio is 133.33%.

Wall Street Analysts Forecast Growth

DBRG has been the topic of a number of recent analyst reports. Truist Financial reduced their price target on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Wells Fargo & Company boosted their target price on DigitalBridge Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. B. Riley dropped their price target on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Citizens Jmp upgraded DigitalBridge Group to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods lowered their target price on DigitalBridge Group from $14.00 to $13.50 and set a “market perform” rating for the company in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $16.61.

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.