Philadelphia Financial Management of San Francisco LLC reduced its holdings in Bridge Investment Group Holdings Inc. (NYSE:BRDG – Get Rating) by 50.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 254,971 shares of the company's stock after selling 261,132 shares during the period. Philadelphia Financial Management of San Francisco LLC's holdings in Bridge Investment Group were worth $3,707,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BRDG. Jennison Associates LLC increased its position in Bridge Investment Group by 1.9% during the first quarter. Jennison Associates LLC now owns 2,059,396 shares of the company's stock worth $41,909,000 after acquiring an additional 37,884 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Bridge Investment Group by 769.5% during the 1st quarter. JPMorgan Chase & Co. now owns 8,373 shares of the company's stock worth $170,000 after purchasing an additional 7,410 shares during the period. Bank of New York Mellon Corp raised its position in shares of Bridge Investment Group by 6.2% during the first quarter. Bank of New York Mellon Corp now owns 63,146 shares of the company's stock valued at $1,285,000 after buying an additional 3,703 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Bridge Investment Group by 1.1% in the first quarter. BlackRock Inc. now owns 342,538 shares of the company's stock valued at $6,971,000 after buying an additional 3,650 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in Bridge Investment Group by 39.0% during the first quarter. Lord Abbett & CO. LLC now owns 557,049 shares of the company's stock worth $11,336,000 after buying an additional 156,156 shares in the last quarter. 59.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the company. Wells Fargo & Company upped their price target on Bridge Investment Group from $19.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday, August 10th. Morgan Stanley cut their target price on Bridge Investment Group from $22.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, October 19th. UBS Group boosted their price target on shares of Bridge Investment Group from $15.00 to $16.00 and gave the company a "neutral" rating in a report on Tuesday, November 15th. TheStreet downgraded shares of Bridge Investment Group from a "c-" rating to a "d+" rating in a report on Wednesday, October 19th. Finally, Credit Suisse Group set a $13.50 target price on shares of Bridge Investment Group in a research note on Wednesday, November 23rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Bridge Investment Group currently has a consensus rating of "Moderate Buy" and an average target price of $19.10.

Bridge Investment Group Stock Down 0.2 %

Bridge Investment Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 7.57%. The ex-dividend date of this dividend is Thursday, December 1st. Bridge Investment Group's payout ratio is 72.97%.

About Bridge Investment Group

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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.

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