Kempner Capital Management Inc. Trims Stake in General Motors (NYSE:GM)

Kempner Capital Management Inc. lowered its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 50.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,926 shares of the auto manufacturer’s stock after selling 45,009 shares during the quarter. Kempner Capital Management Inc.’s holdings in General Motors were worth $2,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of GM. LifeSteps Financial Inc. purchased a new stake in General Motors in the first quarter worth about $25,000. Fortitude Family Office LLC grew its holdings in General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the period. Cape Investment Advisory Inc. grew its holdings in General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after purchasing an additional 359 shares during the period. Montag A & Associates Inc. purchased a new stake in General Motors in the first quarter worth about $30,000. Finally, YHB Investment Advisors Inc. purchased a new stake in General Motors in the first quarter worth about $32,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Transactions at General Motors

In other news, President Mark L. Reuss sold 14,858 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $46.01, for a total value of $683,616.58. Following the completion of the sale, the president now directly owns 162,049 shares of the company’s stock, valued at $7,455,874.49. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other General Motors news, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was acquired at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Mark L. Reuss sold 14,858 shares of General Motors stock in a transaction on Friday, June 7th. The stock was sold at an average price of $46.01, for a total transaction of $683,616.58. Following the completion of the transaction, the president now directly owns 162,049 shares of the company’s stock, valued at $7,455,874.49. The disclosure for this sale can be found here. Insiders sold a total of 1,152,621 shares of company stock valued at $51,818,111 over the last three months. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Barclays upped their price objective on shares of General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Bank of America reiterated a “buy” rating and set a $75.00 price target on shares of General Motors in a report on Wednesday, June 12th. Piper Sandler increased their price target on shares of General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. UBS Group increased their price target on shares of General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Wells Fargo & Company increased their price target on shares of General Motors from $32.00 to $34.00 and gave the company an “underweight” rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors currently has a consensus rating of “Moderate Buy” and an average price target of $55.17.

General Motors Stock Performance

GM traded up $0.39 during trading on Monday, hitting $45.71. The company’s stock had a trading volume of 3,739,425 shares, compared to its average volume of 15,765,199. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. General Motors has a one year low of $26.30 and a one year high of $50.50. The firm has a market cap of $52.15 billion, a PE ratio of 5.56, a P/E/G ratio of 0.44 and a beta of 1.43. The business’s 50 day simple moving average is $46.03 and its 200-day simple moving average is $43.83.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.39. The business had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $1.91 earnings per share. As a group, sell-side analysts predict that General Motors will post 9.94 EPS for the current fiscal year.

General Motors declared that its Board of Directors has approved a share repurchase program on Tuesday, June 11th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.05%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

About General Motors

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.