Bridge Investment Group (NYSE:BRDG) Price Target Cut to $10.00 by Analysts at Wells Fargo & Company

Bridge Investment Group (NYSE:BRDG) had its target price trimmed by Wells Fargo & Company from $12.00 to $10.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently weighed in on the stock. UBS Group raised their price target on shares of Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. restated a “neutral” rating and set a $10.00 price objective (down from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. Morgan Stanley downgraded Bridge Investment Group from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $14.00 to $11.00 in a research note on Friday, November 8th. Finally, TD Cowen decreased their price objective 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. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Bridge Investment Group presently has a consensus rating of “Hold” and an average target price of $10.40.

Bridge Investment Group Stock Performance

NYSE:BRDG opened at $7.26 on Tuesday. The firm has a market cap of $879.07 million, a PE ratio of 181.55 and a beta of 1.57. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.14 and a quick ratio of 1.14. Bridge Investment Group has a 1-year low of $6.18 and a 1-year high of $11.69. The firm has a 50 day simple moving average of $9.09 and a 200-day simple moving average of $8.90.

Bridge Investment Group (NYSE:BRDG) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 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 analyst estimates of $85.00 million. During the same quarter in the prior year, the company earned $0.22 earnings per share. On average, equities analysts expect that Bridge Investment Group will post 0.68 EPS for the current 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 issued a $0.10 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.40 annualized dividend and a yield of 5.51%. Bridge Investment Group’s dividend payout ratio (DPR) is presently 1,000.00%.

Insider Activity

In other news, Chairman Robert Randolph Morse sold 47,252 shares of Bridge Investment Group stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $8.31, for a total value of $392,664.12. Following the completion of the transaction, the chairman now owns 3,157,271 shares in the company, valued at approximately $26,236,922.01. The trade was a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Katherine Elsnab sold 3,078 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total transaction of $25,516.62. Following the completion of the sale, the chief financial officer now directly owns 303,937 shares of the company’s stock, valued at approximately $2,519,637.73. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 145,187 shares of company stock valued at $1,204,966. 65.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bridge Investment Group

A number of large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in shares of Bridge Investment Group by 1.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,286,847 shares of the company’s stock worth $13,383,000 after acquiring an additional 14,235 shares during the period. Geode Capital Management LLC lifted its stake in Bridge Investment Group by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock valued at $4,026,000 after purchasing an additional 40,975 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Bridge Investment Group during the third quarter valued at about $127,000. Jane Street Group LLC bought a new stake in shares of Bridge Investment Group in the 3rd quarter valued at about $102,000. Finally, State Street Corp boosted its position in shares of Bridge Investment Group by 12.0% during the 3rd quarter. State Street Corp now owns 128,711 shares of the company’s stock valued at $1,270,000 after purchasing an additional 13,800 shares in the last quarter. Institutional investors own 52.83% of the company’s stock.

Bridge Investment Group Company Profile

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.