Jennison Associates LLC Acquires 42,323 Shares of GCM Grosvenor Inc. $GCMG

Jennison Associates LLC raised its holdings in GCM Grosvenor Inc. (NASDAQ:GCMG) by 49.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,482 shares of the company’s stock after purchasing an additional 42,323 shares during the period. Jennison Associates LLC owned 0.06% of GCM Grosvenor worth $1,249,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co lifted its stake in shares of GCM Grosvenor by 44.9% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the company’s stock valued at $52,000 after buying an additional 1,417 shares in the last quarter. National Bank of Canada FI raised its holdings in GCM Grosvenor by 65.5% during the 3rd quarter. National Bank of Canada FI now owns 4,405 shares of the company’s stock valued at $53,000 after acquiring an additional 1,743 shares during the period. Tower Research Capital LLC TRC raised its holdings in GCM Grosvenor by 308.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,776 shares of the company’s stock valued at $67,000 after acquiring an additional 4,362 shares during the period. Quarry LP purchased a new stake in shares of GCM Grosvenor during the third quarter worth $71,000. Finally, CWM LLC lifted its position in shares of GCM Grosvenor by 104.8% during the fourth quarter. CWM LLC now owns 8,601 shares of the company’s stock worth $97,000 after acquiring an additional 4,402 shares in the last quarter. Institutional investors own 99.95% of the company’s stock.

GCM Grosvenor Stock Down 5.4%

GCMG opened at $11.99 on Thursday. The company has a fifty day moving average price of $11.86 and a 200-day moving average price of $11.26. The firm has a market capitalization of $2.42 billion, a P/E ratio of 26.64 and a beta of 0.83. The company has a debt-to-equity ratio of 2.97, a current ratio of 4.05 and a quick ratio of 4.05. GCM Grosvenor Inc. has a one year low of $9.30 and a one year high of $14.38.

GCM Grosvenor (NASDAQ:GCMG) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. The company had revenue of $124.78 million for the quarter, compared to the consensus estimate of $130.13 million. GCM Grosvenor had a return on equity of 222.78% and a net margin of 9.05%. Equities research analysts expect that GCM Grosvenor Inc. will post 0.66 earnings per share for the current fiscal year.

GCM Grosvenor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.48 annualized dividend and a dividend yield of 4.0%. GCM Grosvenor’s dividend payout ratio (DPR) is presently 106.67%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GCMG shares. Oppenheimer reduced their price target on GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of GCM Grosvenor in a report on Wednesday, July 8th. Piper Sandler raised their target price on GCM Grosvenor from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Wall Street Zen lowered GCM Grosvenor from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, TD Cowen upped their price target on GCM Grosvenor from $13.50 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.33.

GCM Grosvenor Profile

GCM Grosvenor is a global alternative asset management firm that specializes in customized investment solutions across a range of private markets and hedge fund strategies. The firm partners with institutional clients—including pension funds, endowments, insurers and sovereign wealth funds—to design and implement portfolios that span private equity, infrastructure, real estate, credit and multi‐strategy hedge fund products. Through its multi‐manager platforms and direct co‐investment vehicles, GCM Grosvenor provides diversified access to opportunities that can enhance returns and manage risk in client portfolios.

Founded in 1971 as Grosvenor Capital Management, the firm has built a track record of sourcing, structuring and monitoring alternative investments on behalf of its clients.