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

Key Points

• GCM Grosvenor Inc. declared a quarterly dividend of $0.11 per share, with an annualized yield of 3.5%, payable on September 16th to investors of record by September 2nd.
• The company maintains a dividend payout ratio of 51.2%, indicating dividends are well-covered by earnings, with expected earnings of $0.75 per share next year.
• Analysts have set a new price target for the stock, with Piper Sandler raising it to $15.00 and an average target price of $14.10, reflecting a general optimism for the company's performance.

GCM Grosvenor Inc. (NASDAQ:GCMG - Get Free Report) declared a quarterly dividend on Monday, August 4th, Wall Street Journal reports. Investors of record on Tuesday, September 2nd will be paid a dividend of 0.11 per share on Tuesday, September 16th. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 2nd.

GCM Grosvenor has a payout ratio of 51.2% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

NASDAQ:GCMG traded down $0.15 during mid-day trading on Wednesday, hitting $12.88. 57,319 shares of the company's stock traded hands, compared to its average volume of 463,532. The company has a fifty day moving average of $11.91 and a 200 day moving average of $12.64. The company has a market capitalization of $2.50 billion, a P/E ratio of 85.80 and a beta of 0.72. GCM Grosvenor has a twelve month low of $10.04 and a twelve month high of $14.48.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GCMG shares. Oppenheimer reissued an "outperform" rating on shares of GCM Grosvenor in a report on Friday. Piper Sandler set a $15.00 price target on GCM Grosvenor and gave the stock an "overweight" rating in a research report on Friday, August 8th.

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.