GCM Grosvenor Inc. (NASDAQ:GCMG) Plans Quarterly Dividend of $0.11

GCM Grosvenor Inc. (NASDAQ:GCMG - Get Free Report) declared a quarterly dividend on Wednesday, May 7th, RTT News reports. Shareholders of record on Friday, June 6th will be given a dividend of 0.11 per share on Monday, June 16th. This represents a $0.44 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Friday, June 6th.

GCM Grosvenor has increased its dividend payment by an average of 10.1% annually over the last three years. GCM Grosvenor has a dividend payout ratio of 47.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect GCM Grosvenor to earn $0.75 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 58.7%.

GCM Grosvenor Trading Up 0.6%

Shares of GCMG stock traded up $0.08 on Monday, reaching $12.57. 372,956 shares of the company's stock were exchanged, compared to its average volume of 284,849. The company's fifty day simple moving average is $12.75 and its 200 day simple moving average is $12.74. The stock has a market capitalization of $2.38 billion, a PE ratio of 418.83 and a beta of 0.74. GCM Grosvenor has a 52 week low of $9.25 and a 52 week high of $14.48.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). GCM Grosvenor had a net margin of 3.64% and a negative return on equity of 101.23%. As a group, sell-side analysts predict that GCM Grosvenor will post 0.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. UBS Group upped their price target on GCM Grosvenor from $13.00 to $14.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Piper Sandler reduced their price objective on GCM Grosvenor from $16.00 to $14.50 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Oppenheimer increased their price objective on GCM Grosvenor from $16.00 to $17.00 and gave the company an "outperform" rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, GCM Grosvenor presently has a consensus rating of "Hold" and an average price target of $13.60.

About GCM Grosvenor

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.