Pacer Advisors Inc. Sells 652,057 Shares of DigitalBridge Group, Inc. $DBRG

Pacer Advisors Inc. trimmed its holdings in DigitalBridge Group, Inc. (NYSE:DBRG) by 71.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 254,805 shares of the company’s stock after selling 652,057 shares during the quarter. Pacer Advisors Inc. owned about 0.14% of DigitalBridge Group worth $3,909,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Handelsbanken Fonder AB increased its position in DigitalBridge Group by 3.0% in the 4th quarter. Handelsbanken Fonder AB now owns 37,500 shares of the company’s stock valued at $575,000 after acquiring an additional 1,100 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of DigitalBridge Group by 4.4% in the fourth quarter. Cetera Investment Advisers now owns 28,921 shares of the company’s stock worth $444,000 after acquiring an additional 1,214 shares during the last quarter. Cerity Partners LLC lifted its position in shares of DigitalBridge Group by 2.5% during the fourth quarter. Cerity Partners LLC now owns 53,055 shares of the company’s stock worth $814,000 after purchasing an additional 1,274 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of DigitalBridge Group by 12.5% during the second quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock worth $122,000 after purchasing an additional 1,309 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of DigitalBridge Group by 305.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company’s stock valued at $27,000 after purchasing an additional 1,326 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DBRG shares. Truist Financial began coverage on shares of DigitalBridge Group in a report on Tuesday, March 31st. They issued a “buy” rating and a $16.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DigitalBridge Group in a report on Friday, May 29th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $16.00.

DigitalBridge Group Trading Down 0.1%

Shares of NYSE:DBRG opened at $15.76 on Tuesday. DigitalBridge Group, Inc. has a 1-year low of $8.94 and a 1-year high of $15.79. The stock has a market capitalization of $2.87 billion, a P/E ratio of 32.15 and a beta of 1.48. The business has a 50-day moving average price of $15.65 and a two-hundred day moving average price of $15.24.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, June 30th. DigitalBridge Group’s payout ratio is 8.16%.

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.