Fintel reports that on August 10, 2023, Piper Sandler maintained coverage of GCM Grosvenor Inc - (NASDAQ:GCMG) with a Overweight recommendation.
Analyst Price Forecast Suggests 19.53% Upside
As of August 2, 2023, the average one-year price target for GCM Grosvenor Inc - is 9.56. The forecasts range from a low of 8.58 to a high of $11.55. The average price target represents an increase of 19.53% from its latest reported closing price of 8.00.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for GCM Grosvenor Inc - is 511MM, an increase of 15.40%. The projected annual non-GAAP EPS is 0.66.
GCM Grosvenor Inc - Declares $0.11 Dividend
On May 10, 2023 the company declared a regular quarterly dividend of $0.11 per share ($0.44 annualized). Shareholders of record as of June 1, 2023 received the payment on June 15, 2023. Previously, the company paid $0.11 per share.
At the current share price of $8.00 / share, the stock's dividend yield is 5.50%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.26%, the lowest has been 1.79%, and the highest has been 7.50%. The standard deviation of yields is 1.34 (n=126).
The current dividend yield is 0.93 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 2.00. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.17%.
What is the Fund Sentiment?
There are 247 funds or institutions reporting positions in GCM Grosvenor Inc -. This is a decrease of 6 owner(s) or 2.37% in the last quarter. Average portfolio weight of all funds dedicated to GCMG is 0.08%, a decrease of 5.41%. Total shares owned by institutions increased in the last three months by 6.01% to 59,484K shares. 
The put/call ratio of GCMG is 0.00, indicating a bullish outlook.
What are Other Shareholders Doing?
Adage Capital Partners Gp, L.l.c. holds 4,943K shares representing 11.80% ownership of the company. No change in the last quarter.
Ameriprise Financial holds 4,118K shares representing 9.84% ownership of the company. In it's prior filing, the firm reported owning 14K shares, representing an increase of 99.65%. The firm increased its portfolio allocation in GCMG by 512,774.86% over the last quarter.
Ariel Investments holds 3,922K shares representing 9.37% ownership of the company. In it's prior filing, the firm reported owning 3,904K shares, representing an increase of 0.46%. The firm decreased its portfolio allocation in GCMG by 2.43% over the last quarter.
Massachusetts Financial Services holds 3,314K shares representing 7.92% ownership of the company. In it's prior filing, the firm reported owning 3,291K shares, representing an increase of 0.71%. The firm decreased its portfolio allocation in GCMG by 85.64% over the last quarter.
LACAX - Columbia Acorn Fund holds 3,262K shares representing 7.79% ownership of the company. No change in the last quarter.
GCM Grosvenor Background Information
(This description is provided by the company.)
CM Grosvenor is a global alternative asset management solutions provider with approximately $59 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm is in its 50th year of operation and is dedicated to delivering value for clients in the growing alternative investment asset classes. GCM Grosvenor’s experienced team of approximately 500 professionals serves a global client base of institutional and high net worth investors. The firm is headquartered in Chicago, with offices in New York, Los Angeles, London, Tokyo, Hong Kong, and Seoul.
Additional reading:
- 2023 Second Quarter Results Earnings Presentation 2 Presenters Michael Sacks Chairman and Chief Executive Officer Jonathan Levin President Pamela Bentley Chief Financial Officer Stacie Selinger Head of Investor Relations 3 Second Quarter 2023 Results
- GCM Grosvenor Reports Second Quarter 2023 with Private Markets Fee-Paying AUM Increasing 12% From Q2 2022 and $1.5 billion of Fundraising; Firm Increases Share Repurchase Plan to $115 million
- GCM Grosvenor Inc. Amended and Restated Incentive Award Plan
- Form of Employee Restricted Stock Unit Award Grant Notice and Restricted Stock Unit Agreement pursuant to GCM Grosvenor Inc. Amended and Restated Incentive Award Plan
- Form of Employee Restricted Stock Unit Award Grant Notice and Restricted Stock Unit Agreement pursuant to GCM Grosvenor Inc. Amended and Restated Incentive Award Plan
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
