Franklin Resources Inc. Has $13.38 Million Stock Position in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Franklin Resources Inc. grew its stake in Bridge Investment Group Holdings Inc. (NYSE:BRDGFree Report) by 1.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,286,847 shares of the company’s stock after buying an additional 14,235 shares during the quarter. Franklin Resources Inc.’s holdings in Bridge Investment Group were worth $13,383,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Quarry LP lifted its position in Bridge Investment Group by 22.5% in the 2nd quarter. Quarry LP now owns 8,350 shares of the company’s stock valued at $62,000 after acquiring an additional 1,535 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Bridge Investment Group in the 3rd quarter valued at about $102,000. Paloma Partners Management Co bought a new stake in shares of Bridge Investment Group in the third quarter valued at about $110,000. XTX Topco Ltd bought a new stake in shares of Bridge Investment Group in the third quarter valued at about $127,000. Finally, Quest Partners LLC acquired a new position in shares of Bridge Investment Group during the third quarter worth about $448,000. Institutional investors own 52.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BRDG shares. Wells Fargo & Company boosted their target price on Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Morgan Stanley downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $14.00 to $11.00 in a report on Friday, November 8th. TD Cowen reduced their target price on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. Finally, UBS Group lifted their price target on shares of Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Bridge Investment Group currently has an average rating of “Hold” and an average target price of $11.00.

Get Our Latest Stock Report on BRDG

Bridge Investment Group Stock Up 1.3 %

NYSE:BRDG opened at $8.50 on Friday. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 212.55 and a beta of 1.54. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86. Bridge Investment Group Holdings Inc. has a twelve month low of $6.18 and a twelve month high of $11.69. The stock’s 50 day moving average price is $9.98 and its two-hundred day moving average price is $8.79.

Bridge Investment Group (NYSE:BRDGGet Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. The firm had revenue of $101.51 million for the quarter, compared to the consensus estimate of $85.00 million. During the same period last year, the company posted $0.22 earnings per share. Equities research analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Bridge Investment Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.10 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.40 annualized dividend and a yield of 4.71%. Bridge Investment Group’s dividend payout ratio (DPR) is currently 1,000.00%.

Bridge Investment Group Profile

(Free Report)

Bridge Investment Group Holdings Inc engages in the real estate investment management business in the United States. It manages capital on behalf of approximately hundred global institutions and 6,500 individual investors across approximately 25 investment vehicles. The company was founded in 2009 and is headquartered in Salt Lake City, Utah.

Further Reading

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Institutional Ownership by Quarter for Bridge Investment Group (NYSE:BRDG)

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