Nuveen Asset Management LLC Raises Holdings in GCM Grosvenor Inc. (NASDAQ:GCMG)

Nuveen Asset Management LLC increased its stake in shares of GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) by 39.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 376,276 shares of the company's stock after purchasing an additional 106,180 shares during the quarter. Nuveen Asset Management LLC owned 0.20% of GCM Grosvenor worth $4,617,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. R Squared Ltd bought a new position in shares of GCM Grosvenor during the 4th quarter valued at approximately $57,000. Quantbot Technologies LP grew its position in GCM Grosvenor by 1,474.0% in the 4th quarter. Quantbot Technologies LP now owns 9,334 shares of the company's stock valued at $115,000 after acquiring an additional 8,741 shares during the last quarter. Bleakley Financial Group LLC bought a new position in GCM Grosvenor in the 4th quarter valued at $127,000. Truist Financial Corp bought a new position in GCM Grosvenor in the 4th quarter valued at $157,000. Finally, Longboard Asset Management LP bought a new position in GCM Grosvenor in the 4th quarter valued at $166,000. Institutional investors own 99.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GCMG shares. Piper Sandler cut their price objective on GCM Grosvenor from $16.00 to $14.50 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Oppenheimer upped their price objective on GCM Grosvenor from $16.00 to $17.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Finally, UBS Group upped their price objective on GCM Grosvenor from $13.00 to $14.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $13.60.

GCM Grosvenor Price Performance

Shares of GCMG stock traded down $0.07 during mid-day trading on Wednesday, hitting $12.48. The stock had a trading volume of 323,583 shares, compared to its average volume of 302,151. GCM Grosvenor Inc. has a 12-month low of $9.25 and a 12-month high of $14.48. The firm has a market capitalization of $2.42 billion, a P/E ratio of 416.00 and a beta of 0.73. The firm's 50-day moving average is $12.56 and its two-hundred day moving average is $12.84.

GCM Grosvenor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, June 6th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Friday, June 6th. GCM Grosvenor's dividend payout ratio is 314.29%.

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.