Russell Investments Group Ltd. Has $2.68 Million Stock Holdings in GCM Grosvenor Inc. $GCMG

Russell Investments Group Ltd. trimmed its stake in shares of GCM Grosvenor Inc. (NASDAQ:GCMG) by 30.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 232,070 shares of the company’s stock after selling 102,057 shares during the quarter. Russell Investments Group Ltd. owned about 0.12% of GCM Grosvenor worth $2,683,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GCMG. Vanguard Group Inc. lifted its stake in shares of GCM Grosvenor by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 4,341,245 shares of the company’s stock worth $57,435,000 after buying an additional 73,671 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in GCM Grosvenor in the 2nd quarter valued at about $43,384,000. Geode Capital Management LLC lifted its position in GCM Grosvenor by 4.7% during the second quarter. Geode Capital Management LLC now owns 1,092,278 shares of the company’s stock worth $12,629,000 after acquiring an additional 48,693 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of GCM Grosvenor by 61.2% during the first quarter. Northern Trust Corp now owns 848,389 shares of the company’s stock worth $11,224,000 after acquiring an additional 322,062 shares during the period. Finally, Nuveen LLC acquired a new position in shares of GCM Grosvenor in the first quarter valued at approximately $10,312,000. 99.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GCMG has been the subject of a number of recent research reports. Piper Sandler reduced their target price on shares of GCM Grosvenor from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of GCM Grosvenor in a report on Monday, December 1st. Finally, Wall Street Zen raised shares of GCM Grosvenor from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, GCM Grosvenor presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.67.

GCM Grosvenor Stock Up 1.4%

GCMG stock opened at $10.93 on Tuesday. The firm has a 50-day moving average price of $11.40 and a 200-day moving average price of $11.99. GCM Grosvenor Inc. has a 12 month low of $10.23 and a 12 month high of $14.48. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 112.30. The stock has a market capitalization of $2.12 billion, a P/E ratio of 39.04 and a beta of 0.90.

GCM Grosvenor (NASDAQ:GCMG) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $134.97 million during the quarter, compared to analysts’ expectations of $126.70 million. GCM Grosvenor had a net margin of 6.23% and a negative return on equity of 246.80%. As a group, equities research analysts anticipate that GCM Grosvenor Inc. will post 0.64 EPS for the current fiscal year.

GCM Grosvenor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Monday, December 1st. GCM Grosvenor’s dividend payout ratio is presently 171.43%.

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.