GCM Grosvenor Inc. (NASDAQ:GCMG) Declares $0.12 Quarterly Dividend

Key Points

• GCM Grosvenor declared a quarterly dividend of $0.12 per share, payable September 15 to shareholders of record as of September 1. The dividend implies an annualized yield of approximately 3.5% and a $0.48 annual payout.
• The dividend appears supported by earnings, with a current payout ratio of 55.8% and an expected forward payout ratio of 57.1% based on projected earnings of $0.84 per share.
• Analyst sentiment remains positive: GCMG has a consensus “Buy” rating and a $15.33 price target, while the stock recently traded at $13.82 after reaching a 52-week high of $14.38.

GCM Grosvenor Inc. (NASDAQ:GCMG - Get Free Report) declared a quarterly dividend on Monday, August 10th. Shareholders of record on Tuesday, September 1st will be paid a dividend of 0.12 per share on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 1st.

GCM Grosvenor has a dividend payout ratio of 55.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect GCM Grosvenor to earn $0.84 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 57.1%.

GCM Grosvenor Stock Performance

Shares of GCMG traded up $0.24 during trading hours on Monday, hitting $13.82. The company's stock had a trading volume of 463,698 shares, compared to its average volume of 558,729. The business has a 50 day simple moving average of $12.36 and a two-hundred day simple moving average of $11.36. GCM Grosvenor has a 52-week low of $9.30 and a 52-week high of $14.38. The company has a debt-to-equity ratio of 2.97, a current ratio of 4.05 and a quick ratio of 4.05. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 30.71 and a beta of 0.84.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.18 EPS for the quarter, meeting analysts' consensus estimates of $0.18. The company had revenue of $124.78 million for the quarter, compared to analysts' expectations of $130.13 million. GCM Grosvenor had a net margin of 9.05% and a return on equity of 222.78%. On average, equities analysts expect that GCM Grosvenor will post 0.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GCMG has been the subject of a number of analyst reports. Wall Street Zen lowered GCM Grosvenor from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Oppenheimer decreased their price objective on GCM Grosvenor from $18.00 to $17.00 and set an "outperform" rating on the stock in a research note on Friday, July 17th. Weiss Ratings raised GCM Grosvenor from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, July 21st. TD Cowen raised their target price on GCM Grosvenor from $13.50 to $14.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. Finally, Piper Sandler lifted their target price on GCM Grosvenor from $13.00 to $15.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $15.33.

About GCM Grosvenor

GCM Grosvenor is a global alternative asset management firm that specializes in customized investment solutions across a range of private markets and hedge fund strategies. The firm partners with institutional clients—including pension funds, endowments, insurers and sovereign wealth funds—to design and implement portfolios that span private equity, infrastructure, real estate, credit and multi‐strategy hedge fund products. Through its multi‐manager platforms and direct co‐investment vehicles, GCM Grosvenor provides diversified access to opportunities that can enhance returns and manage risk in client portfolios.

Founded in 1971 as Grosvenor Capital Management, the firm has built a track record of sourcing, structuring and monitoring alternative investments on behalf of its clients.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source