JPMorgan Chase & Co. Buys 87,945 Shares of GCM Grosvenor Inc. (NASDAQ:GCMG)

JPMorgan Chase & Co. boosted its stake in GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) by 87.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,925 shares of the company's stock after purchasing an additional 87,945 shares during the quarter. JPMorgan Chase & Co. owned about 0.10% of GCM Grosvenor worth $2,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp raised its stake in GCM Grosvenor by 2.0% in the third quarter. State Street Corp now owns 1,053,204 shares of the company's stock valued at $11,922,000 after purchasing an additional 20,225 shares in the last quarter. Geode Capital Management LLC raised its stake in GCM Grosvenor by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,004,614 shares of the company's stock valued at $11,375,000 after purchasing an additional 2,607 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in GCM Grosvenor by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 123,112 shares of the company's stock valued at $1,511,000 after purchasing an additional 2,795 shares in the last quarter. American Century Companies Inc. purchased a new stake in GCM Grosvenor in the fourth quarter valued at approximately $1,437,000. Finally, Barclays PLC raised its stake in shares of GCM Grosvenor by 56.9% during the third quarter. Barclays PLC now owns 113,823 shares of the company's stock worth $1,288,000 after acquiring an additional 41,259 shares in the last quarter. 99.95% of the stock is owned by hedge funds and other institutional investors.

GCM Grosvenor Stock Performance

NASDAQ:GCMG traded up $0.13 during midday trading on Tuesday, reaching $12.57. 743,231 shares of the stock traded hands, compared to its average volume of 275,338. The company has a fifty day moving average of $12.97 and a 200 day moving average of $12.68. GCM Grosvenor Inc. has a 12 month low of $9.25 and a 12 month high of $14.48. The stock has a market capitalization of $2.38 billion, a P/E ratio of 419.00 and a beta of 0.65.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). 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 Inc. will post 0.64 EPS for the current fiscal year.

GCM Grosvenor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.11 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.44 dividend on an annualized basis and a yield of 3.50%. GCM Grosvenor's dividend payout ratio is currently 1,466.67%.

Wall Street Analysts Forecast Growth

Several research firms have commented on GCMG. UBS Group lifted their price target on shares of GCM Grosvenor from $13.00 to $14.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Piper Sandler decreased their price target on shares of GCM Grosvenor from $16.00 to $14.50 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $14.20.

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.