Wells Fargo & Company Cuts Bridge Investment Group (NYSE:BRDG) Price Target to $11.00

Bridge Investment Group (NYSE:BRDG) had its price objective cut by Wells Fargo & Company from $11.50 to $11.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

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

Bridge Investment Group Trading Down 0.4 %

Shares of Bridge Investment Group stock opened at $10.10 on Thursday. The company has a 50 day simple moving average of $8.65 and a two-hundred day simple moving average of $9.18. The firm has a market cap of $1.25 billion, a PE ratio of 252.61 and a beta of 1.47. Bridge Investment Group has a 1 year low of $6.31 and a 1 year high of $11.69. 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 (NYSE:BRDG) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $82.02 million. Analysts expect that Bridge Investment Group will post 0.68 earnings per share for the current fiscal year.

Bridge Investment Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.11 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from Bridge Investment Group’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.36%. Bridge Investment Group’s payout ratio is currently 488.89%.

Insider Buying and Selling

In other Bridge Investment Group news, CFO Katherine Elsnab sold 3,078 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total value of $25,516.62. Following the completion of the sale, the chief financial officer now owns 303,937 shares in the company, valued at $2,519,637.73. This represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Dean Allara sold 10,438 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total transaction of $86,531.02. Following the sale, the insider now owns 683,606 shares in the company, valued at approximately $5,667,093.74. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,187 shares of company stock worth $1,204,966. 65.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Bridge Investment Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC purchased a new stake in Bridge Investment Group in the 3rd quarter worth $102,000. EP Wealth Advisors LLC bought a new stake in shares of Bridge Investment Group in the fourth quarter worth about $89,000. Paloma Partners Management Co purchased a new stake in shares of Bridge Investment Group in the third quarter worth about $110,000. Aquatic Capital Management LLC bought a new position in Bridge Investment Group during the fourth quarter valued at approximately $95,000. Finally, XTX Topco Ltd purchased a new position in Bridge Investment Group during the 3rd quarter valued at approximately $127,000. 52.83% of the stock is owned by institutional investors.

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.