Truist Financial Corp Buys New Shares in GCM Grosvenor Inc. (NASDAQ:GCMG)

Truist Financial Corp bought a new stake in GCM Grosvenor Inc. (NASDAQ:GCMG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,776 shares of the company’s stock, valued at approximately $157,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GCMG. Bamco Inc. NY acquired a new stake in shares of GCM Grosvenor in the third quarter valued at about $19,810,000. Massachusetts Financial Services Co. MA increased its position in shares of GCM Grosvenor by 3.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock valued at $28,141,000 after acquiring an additional 87,010 shares during the last quarter. JPMorgan Chase & Co. increased its position in GCM Grosvenor by 232.0% during the third quarter. JPMorgan Chase & Co. now owns 100,980 shares of the company’s stock worth $1,143,000 after buying an additional 70,565 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in GCM Grosvenor by 86,424.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 59,702 shares of the company’s stock worth $733,000 after buying an additional 59,633 shares during the last quarter. Finally, Barclays PLC increased its position in GCM Grosvenor by 56.9% during the third quarter. Barclays PLC now owns 113,823 shares of the company’s stock worth $1,288,000 after buying an additional 41,259 shares during the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.

GCM Grosvenor Trading Down 3.6 %

Shares of GCMG stock opened at $12.93 on Friday. The stock has a market cap of $2.45 billion, a P/E ratio of 431.00 and a beta of 0.58. The stock has a 50 day simple moving average of $13.36 and a 200 day simple moving average of $12.21. GCM Grosvenor Inc. has a 1 year low of $8.49 and a 1 year high of $14.48.

GCM Grosvenor (NASDAQ:GCMG) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). GCM Grosvenor had a net margin of 3.64% and a negative return on equity of 101.23%. Analysts forecast that GCM Grosvenor Inc. will post 0.64 EPS for the current year.

GCM Grosvenor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Monday, March 3rd. GCM Grosvenor’s payout ratio is presently 1,466.67%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GCMG. UBS Group boosted their price target on GCM Grosvenor from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Oppenheimer boosted their price target on GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Piper Sandler raised GCM Grosvenor from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $12.50 to $14.00 in a research report on Monday, December 23rd. Finally, TD Cowen downgraded GCM Grosvenor from a “buy” rating to a “hold” rating and lowered their price target for the stock from $13.50 to $12.50 in a research report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.10.

About GCM Grosvenor

GCM Grosvenor Inc is global alternative asset management solutions provider. The firm primarily provides its services to pooled investment vehicles. It also provides its services to investment companies, high net worth individuals, pension and profit sharing plans and state or municipal government entities.