National Bank of Canada FI Has $1.93 Million Stock Position in GCM Grosvenor Inc. (NASDAQ:GCMG)

National Bank of Canada FI trimmed its position in GCM Grosvenor Inc. (NASDAQ:GCMG) by 7.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 170,777 shares of the company’s stock after selling 13,325 shares during the quarter. National Bank of Canada FI’s holdings in GCM Grosvenor were worth $1,933,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of GCM Grosvenor by 23.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company’s stock worth $121,000 after purchasing an additional 2,341 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of GCM Grosvenor by 3.6% during the second quarter. Bank of New York Mellon Corp now owns 367,981 shares of the company’s stock worth $3,591,000 after acquiring an additional 12,692 shares in the last quarter. Rhumbline Advisers increased its position in shares of GCM Grosvenor by 2.4% during the second quarter. Rhumbline Advisers now owns 58,772 shares of the company’s stock worth $574,000 after acquiring an additional 1,402 shares in the last quarter. Renaissance Technologies LLC lifted its position in GCM Grosvenor by 9.9% in the 2nd quarter. Renaissance Technologies LLC now owns 482,400 shares of the company’s stock valued at $4,708,000 after acquiring an additional 43,600 shares in the last quarter. Finally, Blair William & Co. IL increased its holdings in GCM Grosvenor by 14.4% during the 2nd quarter. Blair William & Co. IL now owns 188,077 shares of the company’s stock worth $1,836,000 after purchasing an additional 23,635 shares in the last quarter. 99.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GCMG shares. TD Cowen downgraded GCM Grosvenor from a “buy” rating to a “hold” rating and decreased their price target for the stock from $13.50 to $12.50 in a report on Monday, November 11th. Piper Sandler increased their target price on shares of GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Oppenheimer boosted their price target on shares of GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, UBS Group increased their price objective on shares of GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.20.

GCM Grosvenor Stock Performance

Shares of GCMG stock opened at $12.45 on Friday. GCM Grosvenor Inc. has a 52 week low of $8.05 and a 52 week high of $12.58. The firm’s 50-day simple moving average is $11.88 and its two-hundred day simple moving average is $10.99. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -207.50 and a beta of 0.56.

GCM Grosvenor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.44 annualized dividend and a yield of 3.53%. GCM Grosvenor’s payout ratio is -733.33%.

GCM Grosvenor Company 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.