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

GCM Grosvenor Inc. (NASDAQ:GCMG) announced a quarterly dividend on Thursday, February 6th, Wall Street Journal reports. Investors of record on Monday, March 3rd will be paid a dividend of 0.11 per share on Monday, March 17th. This represents a $0.44 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Monday, March 3rd.

GCM Grosvenor has raised its dividend payment by an average of 10.1% annually over the last three years. GCM Grosvenor has a payout ratio of 46.8% meaning its dividend is sufficiently covered by earnings. Analysts expect GCM Grosvenor to earn $0.75 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 58.7%.

GCM Grosvenor Stock Performance

Shares of GCMG stock opened at $14.12 on Friday. GCM Grosvenor has a 1 year low of $8.31 and a 1 year high of $14.48. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 470.67 and a beta of 0.56. The stock’s 50-day moving average is $13.27 and its two-hundred day moving average is $12.13.

GCM Grosvenor (NASDAQ:GCMG) last released its quarterly earnings results on Monday, February 10th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). GCM Grosvenor had a negative return on equity of 101.23% and a net margin of 3.64%. As a group, research analysts predict that GCM Grosvenor will post 0.64 EPS for the current year.

Analysts Set New Price Targets

GCMG has been the subject of a number of research reports. TD Cowen cut shares of GCM Grosvenor from a “buy” rating to a “hold” rating and reduced their target price for the company from $13.50 to $12.50 in a report on Monday, November 11th. Oppenheimer upped their price objective on GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Piper Sandler upgraded GCM Grosvenor from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $12.50 to $14.00 in a research note on Monday, December 23rd. Finally, UBS Group boosted their price objective on shares of GCM Grosvenor from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.10.

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.