Jacobs Levy Equity Management Inc. Acquires Shares of 83,362 DigitalBridge Group, Inc. (NYSE:DBRG)

Jacobs Levy Equity Management Inc. bought a new stake in DigitalBridge Group, Inc. (NYSE:DBRG) during the third quarter, HoldingsChannel.com reports. The firm bought 83,362 shares of the company’s stock, valued at approximately $1,178,000.

Several other large investors have also bought and sold shares of the business. Massachusetts Financial Services Co. MA bought a new position in shares of DigitalBridge Group in the 2nd quarter valued at $39,033,000. New South Capital Management Inc. raised its position in DigitalBridge Group by 40.1% in the second quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock valued at $53,838,000 after purchasing an additional 1,125,549 shares during the last quarter. Wafra Inc. raised its position in DigitalBridge Group by 7.1% in the second quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock valued at $211,745,000 after purchasing an additional 1,020,409 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in DigitalBridge Group by 54.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock worth $36,797,000 after buying an additional 952,408 shares during the period. Finally, Point72 Asset Management L.P. increased its position in DigitalBridge Group by 125.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,629,197 shares of the company’s stock valued at $22,320,000 after acquiring an additional 906,297 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DBRG shares. JPMorgan Chase & Co. boosted their price objective on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Keefe, Bruyette & Woods lowered shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $17.75 to $14.00 in a report on Wednesday, November 6th. Raymond James reduced their price objective on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 5th. Truist Financial lowered their target price on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company dropped their price objective on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $18.13.

DigitalBridge Group Price Performance

DBRG stock opened at $12.84 on Monday. The company’s 50-day moving average is $14.04 and its 200-day moving average is $13.49. The stock has a market capitalization of $2.24 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 14.65 and a beta of 1.89. DigitalBridge Group, Inc. has a 1 year low of $11.07 and a 1 year high of $20.99.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group’s payout ratio is 5.48%.

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.