Bridge Investment Group (NYSE:BRDG) Price Target Cut to $11.00 by Analysts at Wells Fargo & Company

Bridge Investment Group (NYSE:BRDG) had its target price trimmed by Wells Fargo & Company from $11.50 to $11.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $10.00 target price (down previously from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. UBS Group boosted their target price on Bridge Investment Group from $7.50 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, Bridge Investment Group currently has a consensus rating of “Hold” and a consensus price target of $10.80.

Bridge Investment Group Price Performance

BRDG opened at $10.15 on Thursday. The stock has a 50-day moving average price of $8.60 and a 200-day moving average price of $9.16. Bridge Investment Group has a 12-month low of $6.31 and a 12-month high of $11.69. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $1.26 billion, a P/E ratio of 253.69 and a beta of 1.47.

Bridge Investment Group (NYSE:BRDG) last released its earnings results on Monday, February 24th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. The company had revenue of $81.96 million during the quarter, compared to analyst estimates of $82.02 million. Equities analysts predict that Bridge Investment Group will post 0.68 earnings per share for the current fiscal year.

Bridge Investment Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.11 per share. This is a positive change from Bridge Investment Group’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 4.34%. Bridge Investment Group’s dividend payout ratio is presently 488.89%.

Insider Buying and Selling at Bridge Investment Group

In other Bridge Investment Group news, CFO Katherine Elsnab sold 3,206 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $8.31, for a total transaction of $26,641.86. Following the transaction, the chief financial officer now owns 297,707 shares in the company, valued at approximately $2,473,945.17. This represents a 1.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Dean Allara sold 10,877 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $8.31, for a total value of $90,387.87. Following the transaction, the insider now owns 662,473 shares in the company, valued at $5,505,150.63. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 145,187 shares of company stock valued at $1,204,966 in the last 90 days. Insiders own 65.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jennison Associates LLC grew its stake in shares of Bridge Investment Group by 2.3% in the 3rd quarter. Jennison Associates LLC now owns 3,370,882 shares of the company’s stock worth $33,271,000 after buying an additional 74,779 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Bridge Investment Group by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock worth $4,026,000 after buying an additional 40,975 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Bridge Investment Group in the 3rd quarter worth approximately $102,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Bridge Investment Group in the 4th quarter worth approximately $221,000. Finally, XTX Topco Ltd purchased a new stake in shares of Bridge Investment Group in the 3rd quarter worth approximately $127,000. Hedge funds and other institutional investors own 52.83% of the company’s stock.

About Bridge Investment Group

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.