Russell Investments Group Ltd. Sells 62,824 Shares of GCM Grosvenor Inc. $GCMG

Key Points

• Russell Investments Group Ltd. reduced its stake in GCM Grosvenor Inc. by 15.8%, ending the first quarter with 334,127 shares valued at approximately $4.42 million.
• GCM Grosvenor has a Moderate Buy consensus rating from analysts, with an average target price of $15.13.
• The company recently declared a quarterly dividend of $0.11 per share, set to be paid on September 16th, reflecting a yield of 3.4%.

Russell Investments Group Ltd. reduced its holdings in shares of GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) by 15.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 334,127 shares of the company's stock after selling 62,824 shares during the period. Russell Investments Group Ltd. owned 0.18% of GCM Grosvenor worth $4,420,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. ProShare Advisors LLC acquired a new stake in GCM Grosvenor during the 4th quarter worth about $147,000. R Squared Ltd grew its holdings in 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 acquiring an additional 7,536 shares during the period. Argent Trust Co acquired a new stake in GCM Grosvenor during the 1st quarter worth about $172,000. Aquatic Capital Management LLC acquired a new stake in GCM Grosvenor during the 4th quarter worth about $177,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in GCM Grosvenor by 22.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,951 shares of the company's stock worth $208,000 after acquiring an additional 3,082 shares during the period. 99.95% of the stock is currently owned by institutional investors and hedge funds.

GCM Grosvenor Stock Performance

Shares of GCM Grosvenor stock traded up $0.04 during mid-day trading on Tuesday, hitting $12.98. 317,835 shares of the stock were exchanged, 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 company has a 50-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 company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.44 annualized dividend and a dividend yield of 3.4%. GCM Grosvenor's dividend payout ratio (DPR) is currently 293.33%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Piper Sandler raised their target price on GCM Grosvenor from $14.50 to $15.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Oppenheimer restated an "outperform" rating on shares of GCM Grosvenor in a research note on Friday, August 8th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $15.13.

Insider Activity at GCM Grosvenor

In other GCM Grosvenor news, insider Kathleen Patricia Sullivan sold 6,000 shares of GCM Grosvenor 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 transaction, the insider owned 60,195 shares of the company's stock, valued at $783,738.90. This trade represents a 9.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 76.40% of the stock is currently owned by corporate insiders.

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.