Legal & General Group Plc boosted its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 3.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 7,618,441 shares of the auto manufacturer’s stock after buying an additional 246,770 shares during the period. Legal & General Group Plc owned about 0.51% of General Motors worth $269,387,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the company. Cigna Investments Inc. New purchased a new position in shares of General Motors during the fourth quarter worth about $1,786,000. Boothbay Fund Management LLC bought a new position in General Motors during the fourth quarter valued at about $201,000. United Capital Financial Advisers LLC boosted its position in General Motors by 1.6% in the fourth quarter. United Capital Financial Advisers LLC now owns 343,440 shares of the auto manufacturer’s stock valued at $11,965,000 after buying an additional 5,348 shares in the last quarter. CAMG Solamere Management LLC bought a new position in General Motors during the fourth quarter valued at about $1,234,000. Finally, Barings LLC boosted its position in General Motors by 87.0% in the fourth quarter. Barings LLC now owns 182,500 shares of the auto manufacturer’s stock valued at $6,358,000 after buying an additional 84,900 shares in the last quarter. Institutional investors own 73.52% of the company’s stock.
General Motors Company (GM) traded down 0.47% during mid-day trading on Friday, reaching $35.77. The company’s stock had a trading volume of 7,531,936 shares. General Motors Company has a 12-month low of $29.82 and a 12-month high of $38.55. The firm’s 50 day moving average price is $35.16 and its 200 day moving average price is $35.29. The stock has a market cap of $52.12 billion, a price-to-earnings ratio of 6.22 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.17. The company had revenue of $36.98 billion for the quarter, compared to analysts’ expectations of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.86 earnings per share. On average, equities analysts predict that General Motors Company will post $6.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend is Thursday, September 7th. General Motors’s payout ratio is 26.48%.
Several equities research analysts have recently commented on the stock. Wolfe Research assumed coverage on shares of General Motors in a research report on Tuesday, June 13th. They set a “market perform” rating and a $33.00 price target for the company. Zacks Investment Research lowered shares of General Motors from a “hold” rating to a “strong sell” rating in a research report on Monday, July 24th. BidaskClub lowered shares of General Motors from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Guggenheim assumed coverage on shares of General Motors in a report on Wednesday, June 21st. They issued a “neutral” rating and a $37.00 target price for the company. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $36.00 target price on shares of General Motors in a report on Tuesday, June 13th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and three have given a strong buy rating to the stock. General Motors has an average rating of “Buy” and a consensus target price of $39.38.
In other news, insider Stefan Jacoby sold 2,686 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $33.85, for a total transaction of $90,921.10. Following the completion of the transaction, the insider now directly owns 80,379 shares of the company’s stock, valued at $2,720,829.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark L. Reuss sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $33.35, for a total value of $2,501,250.00. Following the transaction, the insider now directly owns 133,052 shares of the company’s stock, valued at $4,437,284.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 139,158 shares of company stock worth $4,643,312. Corporate insiders own 0.04% of the company’s stock.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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