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

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 given 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 of this dividend 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 Performance

GCM Grosvenor stock opened at $12.41 on Friday. The stock has a fifty day moving average of $11.69 and a two-hundred day moving average of $10.82. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -206.83 and a beta of 0.54. GCM Grosvenor has a fifty-two week low of $8.04 and a fifty-two week high of $12.58.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Piper Sandler raised their price target on GCM Grosvenor from $10.50 to $11.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price target on GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. TD Cowen downgraded GCM Grosvenor from a “buy” rating to a “hold” rating and dropped their price target for the stock from $13.50 to $12.50 in a research report on Monday, November 11th. Oppenheimer raised their price target on GCM Grosvenor from $14.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, UBS Group raised their price objective on GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.80.

Insider Transactions at GCM Grosvenor

In related news, insider Kathleen Patricia Sullivan sold 5,000 shares of GCM Grosvenor 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 transaction, the insider now owns 47,307 shares in the company, valued at approximately $507,604.11. This trade represents a 9.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 77.30% of the company’s stock.

About GCM Grosvenor

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.