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

GCM Grosvenor Inc. (NASDAQ:GCMG) announced a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Investors of record on Tuesday, September 3rd will be given a dividend of 0.11 per share on Tuesday, September 17th. This represents a $0.44 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Tuesday, September 3rd.

GCM Grosvenor has a payout ratio of 53.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect GCM Grosvenor to earn $0.65 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 67.7%.

GCM Grosvenor Trading Up 0.8 %

Shares of NASDAQ:GCMG traded up $0.09 during trading on Friday, hitting $10.89. The stock had a trading volume of 79,191 shares, compared to its average volume of 175,669. The stock has a 50-day simple moving average of $10.48 and a two-hundred day simple moving average of $9.74. GCM Grosvenor has a 12-month low of $7.47 and a 12-month high of $11.47.

GCM Grosvenor (NASDAQ:GCMG) last announced its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. GCM Grosvenor had a negative return on equity of 73.82% and a net margin of 3.46%. The firm had revenue of $116.95 million during the quarter, compared to analysts’ expectations of $117.12 million. Equities analysts predict that GCM Grosvenor will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. TD Cowen raised their target price on shares of GCM Grosvenor from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Piper Sandler upped their price objective on shares of GCM Grosvenor from $10.00 to $10.50 and gave the stock a “neutral” rating in a report on Monday, May 20th. JPMorgan Chase & Co. reduced their price target on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Finally, Oppenheimer decreased their price target on GCM Grosvenor from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, GCM Grosvenor presently has an average rating of “Hold” and a consensus target price of $11.60.

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.