Charles Schwab Investment Management Inc. Raises Holdings in GCM Grosvenor Inc. (NASDAQ:GCMG)

Charles Schwab Investment Management Inc. boosted its stake in GCM Grosvenor Inc. (NASDAQ:GCMG) by 2.6% in the 3rd quarter, Holdings Channel reports. The firm owned 120,317 shares of the company’s stock after acquiring an additional 3,047 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in GCM Grosvenor were worth $1,362,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in shares of GCM Grosvenor by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company’s stock valued at $121,000 after acquiring an additional 2,341 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in GCM Grosvenor by 3.6% during the second quarter. Bank of New York Mellon Corp now owns 367,981 shares of the company’s stock worth $3,591,000 after purchasing an additional 12,692 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of GCM Grosvenor by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 58,772 shares of the company’s stock worth $574,000 after purchasing an additional 1,402 shares in the last quarter. National Bank of Canada FI increased its position in shares of GCM Grosvenor by 26.9% during the 2nd quarter. National Bank of Canada FI now owns 184,102 shares of the company’s stock valued at $1,786,000 after purchasing an additional 39,013 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of GCM Grosvenor by 9.9% during the second quarter. Renaissance Technologies LLC now owns 482,400 shares of the company’s stock worth $4,708,000 after acquiring an additional 43,600 shares in the last quarter. 99.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. TD Cowen cut GCM Grosvenor from a “buy” rating to a “hold” rating and reduced their price objective for the company from $13.50 to $12.50 in a research note on Monday, November 11th. UBS Group lifted their price objective on GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Piper Sandler raised their price objective on shares of GCM Grosvenor from $10.50 to $11.50 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Oppenheimer upped their price target on GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.20.

GCM Grosvenor Stock Down 0.9 %

GCM Grosvenor stock opened at $12.34 on Tuesday. The stock’s 50 day moving average is $11.90 and its 200 day moving average is $11.02. GCM Grosvenor Inc. has a twelve month low of $8.05 and a twelve month high of $12.58. The company has a market capitalization of $2.33 billion, a P/E ratio of -205.67 and a beta of 0.56.

GCM Grosvenor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Monday, December 2nd. GCM Grosvenor’s dividend payout ratio (DPR) is -733.33%.

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.