Ngam Advisors L.P. Reduces Position in General Motors Company (NYSE:GM)

Ngam Advisors L.P. lowered its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 5.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 447,448 shares of the auto manufacturer’s stock after selling 25,608 shares during the period. Ngam Advisors L.P.’s holdings in General Motors were worth $15,821,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in General Motors during the fourth quarter valued at $300,495,000. Prudential Financial Inc. increased its position in General Motors by 129.2% in the first quarter. Prudential Financial Inc. now owns 6,068,335 shares of the auto manufacturer’s stock valued at $214,576,000 after buying an additional 3,420,200 shares during the last quarter. Alliancebernstein L.P. increased its position in General Motors by 87.0% in the first quarter. Alliancebernstein L.P. now owns 5,174,420 shares of the auto manufacturer’s stock valued at $182,967,000 after buying an additional 2,407,818 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in General Motors by 259.9% in the first quarter. State of New Jersey Common Pension Fund D now owns 2,235,000 shares of the auto manufacturer’s stock valued at $79,030,000 after buying an additional 1,614,000 shares during the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in General Motors during the first quarter valued at $54,293,000. 73.52% of the stock is owned by institutional investors.

General Motors Company (NYSE GM) traded down 0.47% on Friday, hitting $35.77. The company had a trading volume of 7,531,936 shares. The firm’s 50 day moving average price is $35.16 and its 200 day moving average price is $35.29. General Motors Company has a 12-month low of $29.82 and a 12-month high of $38.55. The stock has a market cap of $52.12 billion, a P/E ratio of 6.22 and a beta of 1.45.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.17. The company had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the business posted $1.86 earnings per share. Equities analysts predict that General Motors Company will post $6.13 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.25%. The ex-dividend date is Thursday, September 7th. General Motors’s dividend payout ratio is currently 26.48%.

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Several equities analysts have weighed in on GM shares. Nomura reissued a “buy” rating and set a $47.00 price target on shares of General Motors in a research report on Tuesday, May 2nd. BidaskClub raised General Motors from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. BMO Capital Markets reaffirmed a “market perform” rating on shares of General Motors in a research report on Wednesday, May 3rd. CLSA initiated coverage on General Motors in a research report on Wednesday, June 21st. They issued a “hold” rating and a $37.00 price objective for the company. Finally, Morgan Stanley initiated coverage on General Motors in a research report on Wednesday, June 28th. They issued an “overweight” rating and a $40.00 price objective for the company. Three research 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 company. The stock has a consensus rating of “Buy” and a consensus target price of $39.38.

In related news, insider John J. Quattrone sold 15,000 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $35.00, for a total value of $525,000.00. Following the completion of the sale, the insider now owns 42,623 shares in the company, valued at $1,491,805. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jane L. Mendillo bought 1,520 shares of General Motors stock in a transaction that occurred on Friday, May 26th. The stock was bought at an average price of $32.92 per share, with a total value of $50,038.40. Following the purchase, the director now owns 3,120 shares of the company’s stock, valued at approximately $102,710.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 139,158 shares of company stock worth $4,643,312. 0.04% of the stock is currently owned by company insiders.

General Motors Company Profile

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.

Institutional Ownership by Quarter for General Motors (NYSE:GM)

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