GCM Grosvenor Inc. $GCMG Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its holdings in GCM Grosvenor by 17.1%, bringing their total ownership to approximately $1.28 million after selling 20,012 shares.
• GCM Grosvenor has recently declared a quarterly dividend of $0.11 per share, scheduled for payment on September 16th, representing a 3.5% dividend yield.
• Analysts have a consensus rating of "Moderate Buy" for GCM Grosvenor, with an average price target of $15.13, reflecting confidence in the company's future performance.

American Century Companies Inc. lowered its position in GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) by 17.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 97,092 shares of the company's stock after selling 20,012 shares during the period. American Century Companies Inc. owned 0.05% of GCM Grosvenor worth $1,285,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. ProShare Advisors LLC purchased a new stake in GCM Grosvenor in the fourth quarter worth about $147,000. R Squared Ltd increased its position in shares of GCM Grosvenor by 161.4% during the first quarter. R Squared Ltd now owns 12,206 shares of the company's stock worth $161,000 after purchasing an additional 7,536 shares in the last quarter. Argent Trust Co acquired a new position in shares of GCM Grosvenor in the first quarter valued at approximately $172,000. Price T Rowe Associates Inc. MD raised its holdings in GCM Grosvenor by 22.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,951 shares of the company's stock valued at $208,000 after acquiring an additional 3,082 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of GCM Grosvenor in the 4th quarter worth $223,000. 99.95% of the stock is owned by institutional investors.

GCM Grosvenor Stock Down 0.4%

Shares of GCMG stock traded down $0.06 during mid-day trading on Monday, reaching $12.72. The stock had a trading volume of 168,130 shares, compared to its average volume of 464,312. The firm's 50 day simple moving average is $12.27 and its 200 day simple moving average is $12.52. The firm has a market cap of $2.47 billion, a PE ratio of 84.76 and a beta of 0.75. GCM Grosvenor Inc. has a one year low of $10.04 and a one year high of $14.48.

GCM Grosvenor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Tuesday, September 2nd. GCM Grosvenor's payout ratio is 293.33%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Oppenheimer reissued an "outperform" rating on shares of GCM Grosvenor in a research report on Friday, August 8th. 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 report on Friday, August 8th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.13.

Insider Activity at GCM Grosvenor

In other news, insider Kathleen Patricia Sullivan sold 6,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $13.02, for a total value of $78,120.00. Following the sale, the insider owned 60,195 shares of the company's stock, valued at $783,738.90. The trade was a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 77.30% of the stock is currently owned by company insiders.

GCM Grosvenor 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.