General Motors (GM) Holdings Trimmed by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 8.9% during the first quarter, Holdings Channel reports. The institutional investor owned 62,889 shares of the auto manufacturer’s stock after selling 6,120 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in General Motors were worth $2,333,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prime Capital Investment Advisors LLC grew its position in shares of General Motors by 432.7% in the first quarter. Prime Capital Investment Advisors LLC now owns 1,843 shares of the auto manufacturer’s stock valued at $68,000 after purchasing an additional 1,497 shares during the last quarter. Meeder Asset Management Inc. raised its position in General Motors by 338.9% during the 1st quarter. Meeder Asset Management Inc. now owns 164,666 shares of the auto manufacturer’s stock worth $6,109,000 after purchasing an additional 127,152 shares during the last quarter. Massey Quick Simon & CO. LLC bought a new position in General Motors during the 1st quarter worth $35,000. South Texas Money Management Ltd. raised its position in General Motors by 14.2% during the 1st quarter. South Texas Money Management Ltd. now owns 594,298 shares of the auto manufacturer’s stock worth $22,048,000 after purchasing an additional 74,056 shares during the last quarter. Finally, Alpha Windward LLC raised its position in General Motors by 248.3% during the 1st quarter. Alpha Windward LLC now owns 16,852 shares of the auto manufacturer’s stock worth $625,000 after purchasing an additional 12,013 shares during the last quarter. 77.58% of the stock is currently owned by hedge funds and other institutional investors.

In other General Motors news, VP Christopher Hatto sold 8,499 shares of General Motors stock in a transaction on Monday, March 4th. The shares were sold at an average price of $40.00, for a total value of $339,960.00. Following the completion of the transaction, the vice president now directly owns 10,040 shares of the company’s stock, valued at approximately $401,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dhivya Suryadevara sold 34,756 shares of General Motors stock in a transaction on Monday, April 1st. The stock was sold at an average price of $37.40, for a total transaction of $1,299,874.40. Following the completion of the transaction, the chief financial officer now directly owns 10,741 shares of the company’s stock, valued at $401,713.40. The disclosure for this sale can be found here. Insiders have sold 113,521 shares of company stock valued at $4,337,346 over the last ninety days. 0.39% of the stock is currently owned by corporate insiders.

A number of analysts have weighed in on GM shares. Barclays set a $48.00 price target on General Motors and gave the stock a “buy” rating in a report on Friday, January 4th. BMO Capital Markets upgraded General Motors from a “market perform” rating to an “outperform” rating in a research note on Monday, January 7th. Zacks Investment Research downgraded General Motors from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. Buckingham Research set a $34.00 target price on General Motors and gave the company a “hold” rating in a research note on Friday, January 11th. Finally, Royal Bank of Canada raised their target price on General Motors from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, January 14th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $47.20.

Shares of NYSE GM opened at $39.66 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 1.71. General Motors has a fifty-two week low of $30.56 and a fifty-two week high of $45.00. The stock has a market capitalization of $55.77 billion, a P/E ratio of 6.06, a price-to-earnings-growth ratio of 0.69 and a beta of 1.27.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Wednesday, February 6th. The auto manufacturer reported $1.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.22. General Motors had a net margin of 5.45% and a return on equity of 23.99%. The business had revenue of $38.40 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same period last year, the firm earned $1.65 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts expect that General Motors will post 6.48 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.52 annualized dividend and a yield of 3.83%. General Motors’s payout ratio is 23.24%.

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General Motors Company Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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

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