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

GCM Grosvenor Inc. (NASDAQ:GCMG) announced a quarterly dividend on Thursday, February 6th, Wall Street Journal reports. Investors of record on Monday, March 3rd will be given a dividend of 0.11 per share on Monday, March 17th. This represents a $0.44 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Monday, March 3rd.

GCM Grosvenor has increased its dividend by an average of 10.1% annually over the last three years. GCM Grosvenor has a payout ratio of 46.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NASDAQ GCMG traded up $0.24 on Friday, reaching $14.12. The company had a trading volume of 383,598 shares, compared to its average volume of 404,154. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 470.67 and a beta of 0.56. GCM Grosvenor has a fifty-two week low of $8.31 and a fifty-two week high of $14.48. The business has a 50 day moving average of $13.27 and a two-hundred day moving average of $12.13.

GCM Grosvenor (NASDAQ:GCMG) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.21 earnings per share 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%. As a group, research 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 analysts have weighed in on the company. TD Cowen downgraded GCM Grosvenor from a “buy” rating to a “hold” rating and decreased their price target for the stock from $13.50 to $12.50 in a report on Monday, November 11th. Oppenheimer increased their price target on GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Piper Sandler upgraded GCM Grosvenor from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $12.50 to $14.00 in a report on Monday, December 23rd. Finally, UBS Group increased their price target on GCM Grosvenor from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. 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, the stock has a consensus rating of “Hold” and an average price target of $14.10.

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.