GCM Grosvenor Inc. (NASDAQ:GCMG) to Issue $0.11 Quarterly Dividend

GCM Grosvenor Inc. (NASDAQ:GCMG) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Stockholders of record on Monday, December 2nd will be paid a dividend of 0.11 per share on Monday, December 16th. This represents a $0.44 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Monday, December 2nd.

GCM Grosvenor has a payout ratio of 54.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect GCM Grosvenor to earn $0.64 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 68.8%.

GCM Grosvenor Stock Up 0.2 %

NASDAQ GCMG opened at $12.41 on Friday. The firm has a market capitalization of $2.35 billion, a PE ratio of -206.83 and a beta of 0.54. The stock’s 50 day moving average is $11.69 and its 200 day moving average is $10.82. GCM Grosvenor has a twelve month low of $8.04 and a twelve month high of $12.58.

Wall Street Analysts Forecast Growth

GCMG has been the topic of a number of research reports. Piper Sandler boosted 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. JPMorgan Chase & Co. dropped their price objective on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. TD Cowen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating and decreased their target price for the company from $13.50 to $12.50 in a research note on Monday, November 11th. UBS Group boosted their price target on GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Oppenheimer upped their price target on GCM Grosvenor from $14.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.80.

Insiders Place Their Bets

In other news, insider Kathleen Patricia Sullivan sold 5,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $10.73, for a total value of $53,650.00. Following the completion of the transaction, the insider now owns 47,307 shares in the company, valued at $507,604.11. The trade was a 9.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 77.30% of the company’s stock.

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.