GCM Grosvenor Inc. (GCMG) To Go Ex-Dividend on September 3rd

GCM Grosvenor Inc. (NASDAQ:GCMG) declared a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Investors of record on Tuesday, September 3rd will be paid a dividend of 0.11 per share on Tuesday, September 17th. This represents a $0.44 annualized dividend 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% meaning 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 GCM Grosvenor stock traded up $0.09 during trading on Friday, hitting $10.89. 79,191 shares of the company’s stock were exchanged, compared to its average volume of 175,669. The business has a 50-day simple moving average of $10.48 and a 200-day simple moving average of $9.74. GCM Grosvenor has a 52-week low of $7.47 and a 52-week high of $11.47.

GCM Grosvenor (NASDAQ:GCMG) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $116.95 million during the quarter, compared to analysts’ expectations of $117.12 million. Equities research analysts predict that GCM Grosvenor will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GCMG has been the subject of a number of recent analyst reports. Oppenheimer cut their price objective on GCM Grosvenor from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. TD Cowen upped their price objective on shares of GCM Grosvenor from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Piper Sandler lifted their target price on shares of GCM Grosvenor from $10.00 to $10.50 and gave the company a “neutral” rating in a research report on Monday, May 20th. Finally, JPMorgan Chase & Co. cut their target price on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Three 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, the stock has an average rating of “Hold” and an average price target of $11.60.

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.