Northern Trust Corp Has $11.22 Million Stock Position in GCM Grosvenor Inc. $GCMG

Northern Trust Corp lifted its stake in GCM Grosvenor Inc. (NASDAQ:GCMG) by 61.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 848,389 shares of the company’s stock after acquiring an additional 322,062 shares during the period. Northern Trust Corp owned approximately 0.45% of GCM Grosvenor worth $11,224,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Nuveen LLC acquired a new stake in shares of GCM Grosvenor in the first quarter worth $10,312,000. Invesco Ltd. lifted its position in GCM Grosvenor by 4.2% in the first quarter. Invesco Ltd. now owns 63,835 shares of the company’s stock worth $845,000 after purchasing an additional 2,573 shares during the period. Charles Schwab Investment Management Inc. lifted its position in GCM Grosvenor by 1.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 125,388 shares of the company’s stock worth $1,659,000 after purchasing an additional 2,276 shares during the period. Vanguard Group Inc. lifted its position in GCM Grosvenor by 1.7% in the first quarter. Vanguard Group Inc. now owns 4,341,245 shares of the company’s stock worth $57,435,000 after purchasing an additional 73,671 shares during the period. Finally, Blair William & Co. IL lifted its position in GCM Grosvenor by 272.2% in the first quarter. Blair William & Co. IL now owns 840,019 shares of the company’s stock worth $11,113,000 after purchasing an additional 614,324 shares during the period. Institutional investors and hedge funds own 99.95% of the company’s stock.

GCM Grosvenor Stock Performance

Shares of NASDAQ:GCMG opened at $12.72 on Friday. The company’s fifty day moving average is $12.24 and its 200-day moving average is $12.56. GCM Grosvenor Inc. has a 52 week low of $10.04 and a 52 week high of $14.48. The company has a market capitalization of $2.47 billion, a PE ratio of 84.80 and a beta of 0.75.

GCM Grosvenor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. GCM Grosvenor’s payout ratio is currently 293.33%.

Insider Activity

In related news, insider Kathleen Patricia Sullivan sold 6,000 shares of GCM Grosvenor stock in a transaction dated 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 transaction, the insider directly owned 60,195 shares of the company’s stock, valued at $783,738.90. The trade was a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 76.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on GCMG shares. Oppenheimer reaffirmed an “outperform” rating on shares of GCM Grosvenor in a research report on Friday, August 8th. Piper Sandler raised their target price on GCM Grosvenor from $14.50 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.13.

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.