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

GCM Grosvenor Inc. (NASDAQ:GCMG) declared a quarterly dividend on Wednesday, November 13th,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 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Monday, December 2nd.

GCM Grosvenor has a payout ratio of 54.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of GCMG stock traded down $0.24 during trading hours on Wednesday, reaching $11.62. The company had a trading volume of 345,703 shares, compared to its average volume of 181,019. The business has a fifty day moving average price of $11.39 and a 200-day moving average price of $10.61. GCM Grosvenor has a one year low of $7.75 and a one year high of $12.43.

Wall Street Analysts Forecast Growth

GCMG has been the topic of a number of recent research reports. UBS Group raised their target price on GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their target price on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Oppenheimer lifted their price target on shares of GCM Grosvenor from $14.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Piper Sandler lifted their target price on shares of GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, TD Cowen lowered GCM Grosvenor from a “buy” rating to a “hold” rating and cut their price target for the stock from $13.50 to $12.50 in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.80.

Insider Activity

In related news, insider Kathleen Patricia Sullivan sold 5,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $10.73, for a total transaction of $53,650.00. Following the completion of the transaction, the insider now directly owns 47,307 shares of the company’s stock, valued at approximately $507,604.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company 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.