Dearborn Partners LLC Has $233,000 Stock Holdings in GCM Grosvenor Inc. (NASDAQ:GCMG)

Dearborn Partners LLC reduced its stake in GCM Grosvenor Inc. (NASDAQ:GCMG) by 12.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,576 shares of the company’s stock after selling 3,000 shares during the period. Dearborn Partners LLC’s holdings in GCM Grosvenor were worth $233,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GCMG. Prime Capital Investment Advisors LLC lifted its holdings in GCM Grosvenor by 3.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 108,109 shares of the company’s stock worth $1,224,000 after purchasing an additional 3,617 shares during the last quarter. Copeland Capital Management LLC bought a new position in GCM Grosvenor during the 3rd quarter worth $58,000. SG Americas Securities LLC bought a new stake in shares of GCM Grosvenor in the third quarter valued at about $191,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of GCM Grosvenor in the second quarter valued at about $157,000. Finally, Millennium Management LLC increased its position in GCM Grosvenor by 169.7% during the second quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock worth $4,080,000 after acquiring an additional 263,064 shares during the period. 99.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at GCM Grosvenor

In other news, insider Kathleen Patricia Sullivan sold 5,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $10.73, for a total transaction of $53,650.00. Following the sale, the insider now directly owns 47,307 shares in the company, valued at approximately $507,604.11. The trade was a 9.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 77.30% of the stock is owned by insiders.

GCM Grosvenor Stock Performance

GCM Grosvenor stock opened at $11.68 on Friday. GCM Grosvenor Inc. has a 52 week low of $7.75 and a 52 week high of $12.43. The stock has a market capitalization of $2.21 billion, a P/E ratio of -194.67 and a beta of 0.54. The stock has a fifty day moving average of $11.44 and a 200-day moving average of $10.64.

GCM Grosvenor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.11 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.77%. GCM Grosvenor’s dividend payout ratio (DPR) is currently -733.33%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GCMG. JPMorgan Chase & Co. decreased their target price on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. TD Cowen lowered GCM Grosvenor from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $13.50 to $12.50 in a research note on Monday, November 11th. Oppenheimer upped their target price on GCM Grosvenor from $14.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Piper Sandler raised their price target on GCM Grosvenor from $10.50 to $11.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, UBS Group upped their price objective on shares of GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, GCM Grosvenor currently has an average rating of “Hold” and a consensus target price of $12.80.

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.