Fifth Third Bancorp Has $429,000 Stake in GCM Grosvenor Inc. (NASDAQ:GCMG)

Fifth Third Bancorp boosted its stake in GCM Grosvenor Inc. (NASDAQ:GCMG) by 100.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,455 shares of the company’s stock after buying an additional 16,253 shares during the quarter. Fifth Third Bancorp’s holdings in GCM Grosvenor were worth $429,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in GCM Grosvenor by 4.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,242 shares of the company’s stock valued at $297,000 after buying an additional 1,023 shares in the last quarter. Blair William & Co. IL boosted its stake in GCM Grosvenor by 0.6% in the fourth quarter. Blair William & Co. IL now owns 225,695 shares of the company’s stock worth $2,769,000 after purchasing an additional 1,270 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in GCM Grosvenor by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 123,112 shares of the company’s stock worth $1,511,000 after purchasing an additional 2,795 shares in the last quarter. Mariner LLC boosted its stake in GCM Grosvenor by 17.2% in the fourth quarter. Mariner LLC now owns 19,781 shares of the company’s stock worth $243,000 after purchasing an additional 2,909 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in GCM Grosvenor by 5.0% in the first quarter. Rhumbline Advisers now owns 61,392 shares of the company’s stock worth $812,000 after purchasing an additional 2,930 shares in the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.

GCM Grosvenor Stock Down 1.5%

Shares of GCMG opened at $11.64 on Wednesday. GCM Grosvenor Inc. has a 12-month low of $9.56 and a 12-month high of $14.48. The firm has a market capitalization of $2.26 billion, a PE ratio of 83.14 and a beta of 0.73. The stock’s fifty day simple moving average is $12.47 and its 200-day simple moving average is $12.84.

GCM Grosvenor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, June 6th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Friday, June 6th. GCM Grosvenor’s dividend payout ratio (DPR) is presently 314.29%.

Analysts Set New Price Targets

GCMG has been the topic of a number of recent analyst reports. UBS Group boosted their price objective on GCM Grosvenor from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Oppenheimer boosted their price objective on GCM Grosvenor from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, May 9th. Finally, Piper Sandler reduced their price objective on GCM Grosvenor from $16.00 to $14.50 and set an “overweight” rating on the stock 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 company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.60.

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.