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

GCM Grosvenor Inc. (NASDAQ:GCMG) declared a quarterly dividend on Tuesday, February 11th,Wall Street Journal reports. Investors of record on Monday, March 3rd will be paid a dividend of 0.11 per share on Monday, March 17th. This represents a $0.44 annualized dividend and a yield of 3.21%. 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 dividend payout ratio of 48.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect GCM Grosvenor to earn $0.64 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 68.8%.

GCM Grosvenor Price Performance

NASDAQ:GCMG traded down $0.35 on Tuesday, hitting $13.72. 392,060 shares of the company’s stock were exchanged, compared to its average volume of 387,913. The firm has a 50-day moving average price of $12.78 and a 200-day moving average price of $11.83. GCM Grosvenor has a 52 week low of $8.05 and a 52 week high of $14.44. The company has a market cap of $2.59 billion, a P/E ratio of -228.67 and a beta of 0.56.

GCM Grosvenor (NASDAQ:GCMG) last released its earnings results on Monday, February 10th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). GCM Grosvenor had a net margin of 3.08% and a negative return on equity of 73.06%. On average, research analysts expect that GCM Grosvenor will post 0.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. TD Cowen downgraded GCM Grosvenor from a “buy” rating to a “hold” rating and cut their price objective for the company from $13.50 to $12.50 in a report on Monday, November 11th. Oppenheimer upped their price target on shares of GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Piper Sandler raised shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $12.50 to $14.00 in a research report on Monday, December 23rd. Finally, UBS Group upped their target price on shares of GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, GCM Grosvenor presently has a consensus rating of “Hold” and a consensus target price of $13.70.

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.