Hexavest Inc. decreased its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 5.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,356,306 shares of the auto manufacturer’s stock after selling 76,302 shares during the period. Hexavest Inc. owned about 0.09% of General Motors worth $47,376,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of GM. Clearbridge Investments LLC raised its stake in General Motors by 26,374.8% in the first quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock valued at $140,394,000 after buying an additional 3,955,426 shares during the last quarter. Prudential Financial Inc. raised its stake 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. Vanguard Group Inc. raised its stake in General Motors by 3.2% in the first quarter. Vanguard Group Inc. now owns 89,853,324 shares of the auto manufacturer’s stock valued at $3,177,214,000 after buying an additional 2,744,821 shares during the last quarter. Alliancebernstein L.P. raised its stake 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. Finally, State Street Corp raised its stake in General Motors by 3.9% in the first quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock valued at $2,136,563,000 after buying an additional 2,252,866 shares during the last quarter. Hedge funds and other institutional investors own 75.56% of the company’s stock.
General Motors Company (NYSE:GM) traded down 0.49% during mid-day trading on Friday, hitting $34.83. 7,193,463 shares of the stock were exchanged. The company has a market capitalization of $50.75 billion, a PE ratio of 6.06 and a beta of 1.45. The stock’s 50-day moving average is $35.49 and its 200 day moving average is $35.08. General Motors Company has a 52 week low of $30.13 and a 52 week high of $38.55. General Motors also saw some unusual options trading activity on Wednesday. Traders acquired 13,561 call options on the stock. This represents an increase of approximately 162% compared to the typical volume of 5,175 call options.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.17. The company had revenue of $36.98 billion during the quarter, compared to analyst estimates of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.86 earnings per share. On average, analysts anticipate that General Motors Company will post $6.13 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 annualized dividend and a yield of 4.36%. General Motors’s payout ratio is currently 26.48%.
GM has been the subject of a number of research analyst reports. Berenberg Bank set a $31.00 target price on shares of General Motors and gave the stock a “sell” rating in a research report on Monday. BidaskClub raised shares of General Motors from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research raised shares of General Motors from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Vetr raised shares of General Motors to a “strong-buy” rating in a research report on Friday, June 9th. Finally, Bank of America Corporation restated a “buy” rating and set a $40.00 price objective (down previously from $44.00) on shares of General Motors in a report on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $39.26.
In other General Motors news, insider Alan S. Batey sold 8,144 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $35.57, for a total transaction of $289,682.08. Following the sale, the insider now directly owns 66,748 shares of the company’s stock, valued at $2,374,226.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jane L. Mendillo purchased 1,520 shares of the stock in a transaction dated Friday, May 26th. The stock was purchased at an average cost of $32.92 per share, for a total transaction of $50,038.40. Following the completion of the acquisition, 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. In the last 90 days, insiders have sold 377,145 shares of company stock valued at $13,116,886. 0.04% of the stock is owned by company insiders.
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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