Nuveen LLC Takes Position in GCM Grosvenor Inc. $GCMG

Key Points

• Nuveen LLC has acquired a new position in GCM Grosvenor Inc., purchasing 779,412 shares valued at approximately $10.3 million, representing about 0.41% ownership of the company.
• GCM Grosvenor recently announced a quarterly dividend of $0.11, with a yield of 3.4% and an annualized payout of $0.44, despite a high dividend payout ratio of 293.33%.
• Analysts are generally optimistic about GCM Grosvenor, giving it an average rating of "Moderate Buy" with a price target of $15.13, following recent upgrades in ratings and price objectives.

Nuveen LLC purchased a new stake in GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 779,412 shares of the company's stock, valued at approximately $10,312,000. Nuveen LLC owned 0.41% of GCM Grosvenor as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ProShare Advisors LLC purchased a new stake in GCM Grosvenor in the 4th quarter valued at $147,000. R Squared Ltd boosted its stake in shares of GCM Grosvenor by 161.4% during the 1st quarter. R Squared Ltd now owns 12,206 shares of the company's stock worth $161,000 after purchasing an additional 7,536 shares during the last quarter. Argent Trust Co purchased a new position in shares of GCM Grosvenor during the 1st quarter worth about $172,000. Aquatic Capital Management LLC purchased a new position in GCM Grosvenor in the fourth quarter valued at approximately $177,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of GCM Grosvenor by 22.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,951 shares of the company's stock valued at $208,000 after purchasing an additional 3,082 shares during the period. Institutional investors and hedge funds own 99.95% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on GCMG. Oppenheimer reaffirmed an "outperform" rating on shares of GCM Grosvenor in a report on Friday, August 8th. Piper Sandler boosted their price target on shares of GCM Grosvenor from $14.50 to $15.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.13.

Insiders Place Their Bets

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

GCM Grosvenor Trading Up 0.3%

NASDAQ GCMG traded up $0.04 during trading on Tuesday, hitting $12.98. 317,835 shares of the company traded hands, compared to its average volume of 467,913. GCM Grosvenor Inc. has a 12 month low of $10.04 and a 12 month high of $14.48. The business has a fifty day simple moving average of $12.02 and a 200 day simple moving average of $12.59. The company has a market capitalization of $2.52 billion, a P/E ratio of 86.53 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. Shareholders 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 yield of 3.4%. The ex-dividend date is Tuesday, September 2nd. GCM Grosvenor's dividend payout ratio (DPR) is 293.33%.

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.