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 paid a dividend of 0.11 per share on Monday, June 16th. This represents a $0.44 annualized dividend and a yield of 3.57%.
GCM Grosvenor has increased its dividend payment by an average of 10.1% per year over the last three years. GCM Grosvenor has a payout ratio of 47.3% meaning its dividend is sufficiently covered by earnings. 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 Down 2.5 %
Shares of GCM Grosvenor stock traded down $0.32 during trading on Wednesday, reaching $12.32. The company's stock had a trading volume of 68,187 shares, compared to its average volume of 279,701. The company has a 50-day moving average price of $12.83 and a two-hundred day moving average price of $12.72. GCM Grosvenor has a fifty-two week low of $5.13 and a fifty-two week high of $14.48. The firm has a market cap of $2.33 billion, a PE ratio of 408.33 and a beta of 0.74.
GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.10). GCM Grosvenor had a net margin of 3.64% and a negative return on equity of 101.23%. On average, analysts predict that GCM Grosvenor will post 0.64 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the company. UBS Group upped their price objective on GCM Grosvenor from $13.00 to $14.00 and gave the stock a "neutral" rating in a 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 for the company in a report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $14.20.
View Our Latest Report on GCM Grosvenor
About GCM Grosvenor
(
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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.
Further Reading
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