Sumitomo Mitsui Trust Group Inc. Makes New $43.38 Million Investment in GCM Grosvenor Inc. $GCMG

Sumitomo Mitsui Trust Group Inc. bought a new position in GCM Grosvenor Inc. (NASDAQ:GCMG) during the second quarter, Holdings Channel.com reports. The fund bought 3,752,965 shares of the company’s stock, valued at approximately $43,384,000.

A number of other hedge funds have also added to or reduced their stakes in GCMG. R Squared Ltd grew its stake in GCM Grosvenor by 161.4% in the 1st quarter. R Squared Ltd now owns 12,206 shares of the company’s stock worth $161,000 after acquiring an additional 7,536 shares in the last quarter. Argent Trust Co bought a new position in GCM Grosvenor in the 1st quarter worth about $172,000. EntryPoint Capital LLC grew its stake in GCM Grosvenor by 10.2% in the 1st quarter. EntryPoint Capital LLC now owns 15,549 shares of the company’s stock worth $206,000 after acquiring an additional 1,438 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in shares of GCM Grosvenor during the second quarter valued at approximately $208,000. Finally, Jump Financial LLC bought a new position in shares of GCM Grosvenor during the first quarter valued at approximately $288,000. 99.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GCMG has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of GCM Grosvenor in a research note on Wednesday, October 8th. Piper Sandler dropped their price objective on shares of GCM Grosvenor from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, October 9th. Finally, Oppenheimer reiterated an “outperform” rating on shares of GCM Grosvenor in a research note on Friday, August 8th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.88.

Insider Buying and Selling

In related news, insider Kathleen Patricia Sullivan sold 6,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $13.02, for a total transaction of $78,120.00. Following the completion of the sale, the insider owned 60,195 shares of the company’s stock, valued at $783,738.90. This represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 77.30% of the stock is owned by insiders.

GCM Grosvenor Stock Down 0.1%

NASDAQ:GCMG opened at $11.70 on Tuesday. GCM Grosvenor Inc. has a 52 week low of $10.91 and a 52 week high of $14.48. The firm has a 50 day moving average of $12.37 and a 200 day moving average of $12.27. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 78.00 and a beta of 0.75.

GCM Grosvenor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 3.8%. GCM Grosvenor’s dividend payout ratio is presently 293.33%.

GCM Grosvenor 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.