General Motors (NYSE:GM) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. cut its holdings in General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,174 shares of the auto manufacturer’s stock after selling 1,309 shares during the period. Sumitomo Life Insurance Co.’s holdings in General Motors were worth $904,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GM. Norges Bank purchased a new position in shares of General Motors during the fourth quarter worth about $493,248,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of General Motors by 80.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,687,738 shares of the auto manufacturer’s stock valued at $538,747,000 after purchasing an additional 6,548,022 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of General Motors by 454.3% in the 3rd quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock valued at $171,961,000 after purchasing an additional 4,275,293 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of General Motors by 1,257.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,368,500 shares of the auto manufacturer’s stock valued at $103,598,000 after purchasing an additional 2,194,000 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of General Motors by 32.6% in the 3rd quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock valued at $274,531,000 after purchasing an additional 2,049,412 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at General Motors

In related news, CAO Christopher Hatto sold 15,510 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at $860,710.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Christopher Hatto sold 15,510 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at $860,710.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares in the company, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,248 shares of company stock worth $3,614,078. 0.54% of the stock is owned by company insiders.

General Motors Stock Performance

Shares of GM stock opened at $42.69 on Tuesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 1.08. General Motors has a one year low of $26.30 and a one year high of $46.04. The company’s 50-day simple moving average is $41.33 and its 200-day simple moving average is $35.57. The stock has a market capitalization of $49.28 billion, a price-to-earnings ratio of 5.84, a PEG ratio of 0.53 and a beta of 1.51.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.16 by $0.08. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The business had revenue of $42.98 billion for the quarter, compared to analysts’ expectations of $38.81 billion. During the same quarter last year, the company posted $2.12 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. Equities analysts anticipate that General Motors will post 9.08 earnings per share for the current fiscal year.

General Motors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Friday, March 1st were paid a $0.12 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.12%. This is a positive change from General Motors’s previous quarterly dividend of $0.09. General Motors’s dividend payout ratio (DPR) is presently 6.57%.

Analyst Ratings Changes

Several research firms have recently weighed in on GM. Wedbush boosted their target price on General Motors from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Royal Bank of Canada boosted their price target on General Motors from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Wells Fargo & Company boosted their price target on General Motors from $27.00 to $28.00 and gave the company an “underweight” rating in a research report on Wednesday, January 31st. Redburn Atlantic started coverage on General Motors in a research report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price target on General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, General Motors currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.57.

Check Out Our Latest Analysis on GM

General Motors Company Profile

(Free Report)

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

See Also

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

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