GCM Grosvenor Inc. (NASDAQ:GCMG) Shares Bought by State Street Corp

State Street Corp raised its position in GCM Grosvenor Inc. (NASDAQ:GCMG) by 2.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,053,204 shares of the company’s stock after buying an additional 20,225 shares during the quarter. State Street Corp owned about 0.56% of GCM Grosvenor worth $11,922,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ariel Investments LLC grew its holdings in GCM Grosvenor by 1.5% during the second quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock worth $44,370,000 after acquiring an additional 66,016 shares during the period. Wasatch Advisors LP grew its holdings in shares of GCM Grosvenor by 0.9% in the 3rd quarter. Wasatch Advisors LP now owns 3,186,987 shares of the company’s stock worth $36,077,000 after acquiring an additional 29,382 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in GCM Grosvenor by 3.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock worth $28,141,000 after purchasing an additional 87,010 shares during the last quarter. Bamco Inc. NY acquired a new stake in GCM Grosvenor in the third quarter valued at $19,810,000. Finally, Renaissance Technologies LLC boosted its position in shares of GCM Grosvenor by 9.9% in the 2nd quarter. Renaissance Technologies LLC now owns 482,400 shares of the company’s stock worth $4,708,000 after buying an additional 43,600 shares in the last quarter. 99.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

GCM Grosvenor Trading Up 1.2 %

Shares of NASDAQ GCMG opened at $12.29 on Thursday. The stock has a fifty day moving average price of $12.01 and a 200 day moving average price of $11.12. The company has a market cap of $2.32 billion, a P/E ratio of -204.83 and a beta of 0.56. GCM Grosvenor Inc. has a 12-month low of $8.05 and a 12-month high of $12.58.

GCM Grosvenor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Monday, December 2nd. GCM Grosvenor’s dividend payout ratio (DPR) is -733.33%.

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.