GCM Grosvenor Inc. (NASDAQ:GCMG) Stock Position Lifted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its holdings in shares of GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) by 2,277.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 402,094 shares of the company's stock after purchasing an additional 385,182 shares during the period. The Manufacturers Life Insurance Company owned 0.21% of GCM Grosvenor worth $4,934,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC raised its stake in shares of GCM Grosvenor by 56.9% in the 3rd quarter. Barclays PLC now owns 113,823 shares of the company's stock valued at $1,288,000 after purchasing an additional 41,259 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of GCM Grosvenor by 232.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 100,980 shares of the company's stock valued at $1,143,000 after purchasing an additional 70,565 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of GCM Grosvenor by 20.1% in the 4th quarter. SG Americas Securities LLC now owns 20,223 shares of the company's stock valued at $248,000 after purchasing an additional 3,379 shares in the last quarter. Fifth Third Bancorp acquired a new stake in shares of GCM Grosvenor in the 4th quarter valued at about $199,000. Finally, R Squared Ltd acquired a new stake in shares of GCM Grosvenor in the 4th quarter valued at about $57,000. Hedge funds and other institutional investors own 99.95% of the company's stock.

GCM Grosvenor Stock Performance

Shares of GCMG stock traded up $0.13 during midday trading on Monday, reaching $12.62. 612,851 shares of the company were exchanged, compared to its average volume of 285,786. The company's 50 day moving average price is $12.75 and its two-hundred day moving average price is $12.74. The company has a market cap of $2.39 billion, a P/E ratio of 420.67 and a beta of 0.74. GCM Grosvenor Inc. has a 12 month low of $9.25 and a 12 month high of $14.48.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.21 earnings per share 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%. As a group, sell-side analysts predict that GCM Grosvenor Inc. will post 0.64 earnings per share for the current year.

GCM Grosvenor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, June 6th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.49%. GCM Grosvenor's dividend payout ratio (DPR) is 314.29%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Piper Sandler lowered their price objective on shares of GCM Grosvenor from $16.00 to $14.50 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Oppenheimer increased their target price on GCM Grosvenor from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, UBS Group upped their price target on shares of GCM Grosvenor from $13.00 to $14.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $13.60.

GCM Grosvenor Profile

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.