Nuveen Asset Management LLC Increases Position in GCM Grosvenor Inc. (NASDAQ:GCMG)

Nuveen Asset Management LLC lifted its position in GCM Grosvenor Inc. (NASDAQ:GCMG) by 39.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 376,276 shares of the company’s stock after purchasing an additional 106,180 shares during the period. Nuveen Asset Management LLC owned about 0.20% of GCM Grosvenor worth $4,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GCMG. Ameriprise Financial Inc. increased its stake in shares of GCM Grosvenor by 9.7% in the fourth quarter. Ameriprise Financial Inc. now owns 5,892,934 shares of the company’s stock worth $72,306,000 after purchasing an additional 519,226 shares in the last quarter. Bamco Inc. NY increased its stake in shares of GCM Grosvenor by 25.7% in the fourth quarter. Bamco Inc. NY now owns 2,200,000 shares of the company’s stock worth $26,994,000 after purchasing an additional 450,000 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of GCM Grosvenor by 2,277.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 402,094 shares of the company’s stock worth $4,934,000 after purchasing an additional 385,182 shares in the last quarter. Granite Investment Partners LLC purchased a new stake in shares of GCM Grosvenor in the fourth quarter worth $2,200,000. Finally, American Century Companies Inc. purchased a new position in GCM Grosvenor during the fourth quarter valued at $1,437,000. 99.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GCMG shares. Oppenheimer raised their target price on shares of GCM Grosvenor from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, May 9th. UBS Group raised their target price on shares of GCM Grosvenor from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Piper Sandler cut their target price on shares of GCM Grosvenor from $16.00 to $14.50 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.60.

GCM Grosvenor Stock Down 0.6%

Shares of NASDAQ:GCMG opened at $12.74 on Friday. GCM Grosvenor Inc. has a 52 week low of $9.25 and a 52 week high of $14.48. The stock has a market capitalization of $2.47 billion, a P/E ratio of 424.67 and a beta of 0.74. The firm has a fifty day simple moving average of $12.61 and a two-hundred day simple moving average of $12.83.

GCM Grosvenor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, June 6th will be paid a $0.11 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.45%. GCM Grosvenor’s payout ratio is currently 314.29%.

GCM Grosvenor 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.