GCM Grosvenor Inc. Plans 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. Shareholders of record on Tuesday, September 2nd will be given a dividend of 0.11 per share on Tuesday, September 16th. This represents a c) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, September 2nd.

GCM Grosvenor has a payout ratio of 51.2% 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 0.3%

GCM Grosvenor stock traded up $0.04 during midday trading on Tuesday, reaching $12.95. 117,036 shares of the stock traded hands, compared to its average volume of 462,600. The firm has a fifty day moving average price of $11.90 and a two-hundred day moving average price of $12.63. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 86.30 and a beta of 0.72. GCM Grosvenor has a fifty-two week low of $10.04 and a fifty-two week high of $14.48.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC bought a new stake in GCM Grosvenor in the fourth quarter worth approximately $147,000. R Squared Ltd grew its position in GCM Grosvenor by 161.4% in the first quarter. R Squared Ltd now owns 12,206 shares of the company's stock worth $161,000 after acquiring an additional 7,536 shares in the last quarter. Argent Trust Co bought a new stake in GCM Grosvenor in the first quarter worth approximately $172,000. Aquatic Capital Management LLC bought a new stake in GCM Grosvenor in the fourth quarter worth approximately $177,000. Finally, MQS Management LLC bought a new stake in GCM Grosvenor in the second quarter worth approximately $186,000. 99.95% of the stock is owned by hedge funds and other institutional investors.

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.