Assenagon Asset Management S.A. Reduces Holdings in Genuine Parts Company $GPC

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Assenagon Asset Management S.A. significantly reduced its stake in Genuine Parts Company (GPC) by 93.2% in Q4, selling over 800,000 shares. This comes as Genuine Parts missed its quarterly EPS estimates, and Zacks Research downgraded the stock to “Strong Sell” due to trimmed forecasts. Despite this, Genuine Parts maintains its status as a Dividend King, offering a 4.0% yield with a recently increased quarterly dividend.

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