Nuveen LLC Takes Position in GCM Grosvenor Inc. $GCMG

Nuveen LLC bought a new position in GCM Grosvenor Inc. (NASDAQ:GCMG) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 779,412 shares of the company’s stock, valued at approximately $10,312,000. Nuveen LLC owned approximately 0.41% of GCM Grosvenor at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GCMG. Wells Fargo & Company MN increased its holdings in GCM Grosvenor by 47.3% in the 4th quarter. Wells Fargo & Company MN now owns 20,585 shares of the company’s stock worth $253,000 after acquiring an additional 6,608 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in GCM Grosvenor during the 4th quarter valued at approximately $295,000. Barclays PLC grew its holdings in GCM Grosvenor by 24.6% during the 4th quarter. Barclays PLC now owns 141,859 shares of the company’s stock valued at $1,740,000 after buying an additional 28,036 shares in the last quarter. Mariner LLC grew its holdings in GCM Grosvenor by 17.2% during the 4th quarter. Mariner LLC now owns 19,781 shares of the company’s stock valued at $243,000 after buying an additional 2,909 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in GCM Grosvenor during the 4th quarter valued at approximately $224,000. 99.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating on shares of GCM Grosvenor in a report on Friday, August 8th. Piper Sandler increased their price objective on shares of GCM Grosvenor from $14.50 to $15.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, GCM Grosvenor presently has an average rating of “Moderate Buy” and a consensus price target of $15.13.

Insider Transactions at GCM Grosvenor

In related news, insider Kathleen Patricia Sullivan sold 6,000 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.02, for a total value of $78,120.00. Following the completion of the sale, the insider directly owned 60,195 shares in the company, valued at $783,738.90. This trade represents a 9.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 76.40% of the stock is currently owned by corporate insiders.

GCM Grosvenor Stock Performance

NASDAQ GCMG opened at $13.05 on Friday. The company has a market capitalization of $2.53 billion, a P/E ratio of 87.00 and a beta of 0.72. GCM Grosvenor Inc. has a one year low of $10.04 and a one year high of $14.48. The stock has a 50 day moving average price of $12.00 and a 200-day moving average price of $12.61.

GCM Grosvenor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a $0.11 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 3.4%. GCM Grosvenor’s dividend payout ratio (DPR) is currently 293.33%.

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.