Credit Agricole S A Boosts Holdings in GCM Grosvenor Inc. $GCMG

Key Points

• Credit Agricole S A significantly increased its stake in GCM Grosvenor Inc. by 283.1%, owning 116,601 shares after purchasing an additional 86,163 shares in the first quarter.
• GCM Grosvenor announced a quarterly dividend of $0.11 per share, which translates to an annual yield of 3.4%.
• Currently, GCM Grosvenor has a consensus rating of "Moderate Buy" from analysts, with a price target of $15.13.

Credit Agricole S A grew its stake in shares of GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) by 283.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 116,601 shares of the company's stock after buying an additional 86,163 shares during the quarter. Credit Agricole S A owned approximately 0.06% of GCM Grosvenor worth $1,543,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC bought a new stake in shares of GCM Grosvenor in the first quarter worth $10,312,000. Blair William & Co. IL boosted its position in GCM Grosvenor by 272.2% during the first quarter. Blair William & Co. IL now owns 840,019 shares of the company's stock valued at $11,113,000 after acquiring an additional 614,324 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of GCM Grosvenor by 9.7% during the fourth quarter. Ameriprise Financial Inc. now owns 5,892,934 shares of the company's stock valued at $72,306,000 after purchasing an additional 519,226 shares during the period. Bamco Inc. NY raised its holdings in shares of GCM Grosvenor by 25.7% during the fourth quarter. Bamco Inc. NY now owns 2,200,000 shares of the company's stock valued at $26,994,000 after purchasing an additional 450,000 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of GCM Grosvenor by 2,277.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 402,094 shares of the company's stock valued at $4,934,000 after purchasing an additional 385,182 shares during the period. Institutional investors own 99.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GCMG. Piper Sandler increased their price objective on shares of GCM Grosvenor from $14.50 to $15.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Oppenheimer reiterated an "outperform" rating on shares of GCM Grosvenor in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.13.

Insider Buying and Selling at GCM Grosvenor

In other news, insider Kathleen Patricia Sullivan sold 6,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $13.02, for a total transaction of $78,120.00. Following the completion of the transaction, the insider directly owned 60,195 shares of the company's stock, valued at $783,738.90. This represents a 9.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 76.40% of the stock is owned by corporate insiders.

GCM Grosvenor Price Performance

Shares of GCM Grosvenor stock traded down $0.07 on Friday, reaching $12.97. 120,069 shares of the company traded hands, compared to its average volume of 464,297. GCM Grosvenor Inc. has a 52 week low of $10.04 and a 52 week high of $14.48. The company has a 50 day moving average of $12.11 and a 200 day moving average of $12.59. The firm has a market capitalization of $2.52 billion, a PE ratio of 86.43 and a beta of 0.72.

GCM Grosvenor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 2nd. GCM Grosvenor's dividend payout ratio is currently 293.33%.

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.