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

GCM Grosvenor Inc. (NASDAQ:GCMG) announced 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 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Monday, March 3rd.

GCM Grosvenor has raised its dividend payment 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 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 Stock Down 2.5 %

NASDAQ:GCMG traded down $0.35 during trading hours on Tuesday, hitting $13.72. 392,060 shares of the stock were exchanged, compared to its average volume of 387,913. The company’s 50 day moving average is $12.78 and its two-hundred day moving average is $11.83. The company has a market capitalization of $2.59 billion, a P/E ratio of -228.67 and a beta of 0.56. GCM Grosvenor has a twelve month low of $8.05 and a twelve month high of $14.44.

GCM Grosvenor (NASDAQ:GCMG) last announced its quarterly earnings data 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 negative return on equity of 73.06% and a net margin of 3.08%. On average, equities research analysts expect that GCM Grosvenor will post 0.51 EPS for the current year.

Wall Street Analyst Weigh In

GCMG has been the topic of several analyst reports. Oppenheimer raised their price objective on shares of GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. UBS Group raised their price target on GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Piper Sandler upgraded GCM Grosvenor from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $12.50 to $14.00 in a report on Monday, December 23rd. Finally, TD Cowen cut GCM Grosvenor from a “buy” rating to a “hold” rating and reduced their target price for the stock from $13.50 to $12.50 in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, GCM Grosvenor presently has a consensus rating of “Hold” and a consensus target price of $13.70.

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.