Top 5 Dividend Stock Picks of Chuck Royce’s Royce & Associates

3. Grosvenor Capital Management, L.P. (NASDAQ:GCMG)

Number of Hedge Fund Holders: 26
Dividend Yield as of March 2: 3.97%
Royce & Associates’ Stake Value: $62,516,000

Grosvenor Capital Management, L.P. (NASDAQ:GCMG) is a Chicago-based alternative asset management company. It initiated its dividend policy in 2021 and has hiked its dividend three times since. The company pays a quarterly dividend of $0.10 per share, with a dividend yield of 3.97%, as of March 2.

By the end of Q4 2021, 26 hedge funds tracked by Insider Monkey held stakes in Grosvenor Capital Management, L.P. (NASDAQ:GCMG), valued at $231 million. In comparison, 25 hedge funds held positions in the company with stakes valued at $242.1 million a quarter earlier.

In Q4 2021, Royce & Associates increased its position by 4% in Grosvenor Capital Management, L.P. (NASDAQ:GCMG), building a stake worth over $62.5 million. The holding accounted for 0.46% of Chuck Royce’s portfolio value.

Highlighting the company’s growing return business, UBS initiated its coverage on Grosvenor Capital Management, L.P. (NASDAQ:GCMG) in December with a ‘Neutral’ rating and an $18 price target.