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

GCM Grosvenor Inc. (NASDAQ:GCMG) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors 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 yield of 3.55%. 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 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 %

Shares of GCMG stock opened at $12.41 on Friday. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -206.83 and a beta of 0.54. The company’s 50 day moving average is $11.69 and its 200 day moving average is $10.82. GCM Grosvenor has a 52-week low of $8.04 and a 52-week high of $12.58.

Insider Transactions at GCM Grosvenor

In other news, insider Kathleen Patricia Sullivan sold 5,000 shares of GCM Grosvenor stock in a transaction on Monday, September 9th. The shares were sold at an average price of $10.73, for a total transaction of $53,650.00. Following the completion of the sale, the insider now directly owns 47,307 shares in the company, valued at approximately $507,604.11. The trade was a 9.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 77.30% of the company’s stock.

Wall Street Analyst Weigh In

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

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.