Victory Capital Management Inc. Acquires Shares of 103,664 GCM Grosvenor Inc. (NASDAQ:GCMG)

Key Points

• Victory Capital Management Inc. acquired 103,664 shares of GCM Grosvenor Inc. worth approximately $1.37 million, representing a 0.05% ownership as of their most recent SEC filing.
• Other major investors, including JPMorgan Chase & Co. and Arrowstreet Capital, have also significantly increased their holdings in GCM Grosvenor during the fourth quarter.
• GCM Grosvenor recently announced a quarterly dividend of $0.11 per share, reflecting an annual yield of 3.71% despite a high dividend payout ratio of 314.29%.

Victory Capital Management Inc. bought a new position in shares of GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 103,664 shares of the company's stock, valued at approximately $1,371,000. Victory Capital Management Inc. owned about 0.05% of GCM Grosvenor at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Nuveen Asset Management LLC lifted its position in GCM Grosvenor by 39.3% during the fourth quarter. Nuveen Asset Management LLC now owns 376,276 shares of the company's stock worth $4,617,000 after purchasing an additional 106,180 shares during the period. Fifth Third Bancorp lifted its position in GCM Grosvenor by 100.3% during the first quarter. Fifth Third Bancorp now owns 32,455 shares of the company's stock worth $429,000 after purchasing an additional 16,253 shares during the period. Rhumbline Advisers lifted its position in GCM Grosvenor by 5.0% during the first quarter. Rhumbline Advisers now owns 61,392 shares of the company's stock worth $812,000 after purchasing an additional 2,930 shares during the period. GAMMA Investing LLC lifted its position in GCM Grosvenor by 1,455.8% during the first quarter. GAMMA Investing LLC now owns 22,637 shares of the company's stock worth $299,000 after purchasing an additional 21,182 shares during the period. Finally, Franklin Resources Inc. bought a new stake in GCM Grosvenor during the fourth quarter worth about $555,000. 99.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Piper Sandler cut their price objective on shares of GCM Grosvenor from $16.00 to $14.50 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Oppenheimer upped their price objective on shares of GCM Grosvenor from $18.00 to $19.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, GCM Grosvenor has an average rating of "Hold" and an average target price of $14.00.

GCM Grosvenor Trading Down 1.0%

NASDAQ GCMG traded down $0.12 during trading on Friday, hitting $11.67. 489,586 shares of the company's stock were exchanged, compared to its average volume of 413,186. The stock's 50 day moving average price is $11.96 and its two-hundred day moving average price is $12.68. GCM Grosvenor Inc. has a fifty-two week low of $10.04 and a fifty-two week high of $14.48. The company has a market cap of $2.27 billion, a PE ratio of 83.36 and a beta of 0.72.

GCM Grosvenor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, June 6th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Friday, June 6th. GCM Grosvenor's dividend payout ratio is currently 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.