Amica Mutual Insurance Co. Maintains Stake in General Electric Co. (GE)
Amica Mutual Insurance Co. held its position in shares of General Electric Co. (NYSE:GE) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 386,907 shares of the company’s stock at the end of the second quarter. General Electric comprises 1.2% of Amica Mutual Insurance Co.’s portfolio, making the stock its 11th largest position. Amica Mutual Insurance Co.’s holdings in General Electric were worth $12,180,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the company. Abner Herrman & Brock LLC raised its stake in shares of General Electric by 9.0% in the second quarter. Abner Herrman & Brock LLC now owns 354,721 shares of the company’s stock worth $11,426,000 after buying an additional 29,308 shares during the period. Armstrong Henry H Associates Inc. raised its position in shares of General Electric by 0.7% in the second quarter. Armstrong Henry H Associates Inc. now owns 187,233 shares of the company’s stock worth $5,894,000 after buying an additional 1,386 shares during the period. Cabot Wealth Management Inc. raised its position in shares of General Electric by 0.6% in the second quarter. Cabot Wealth Management Inc. now owns 17,085 shares of the company’s stock worth $538,000 after buying an additional 98 shares during the period. GWM Advisors LLC raised its position in shares of General Electric by 506.3% in the second quarter. GWM Advisors LLC now owns 50,829 shares of the company’s stock worth $1,595,000 after buying an additional 42,445 shares during the period. Finally, Nadler Financial Group Inc. raised its position in shares of General Electric by 0.6% in the second quarter. Nadler Financial Group Inc. now owns 34,251 shares of the company’s stock worth $1,078,000 after buying an additional 201 shares during the period. Hedge funds and other institutional investors own 55.81% of the company’s stock.
General Electric Co. (NYSE:GE) traded down 0.84% on Monday, reaching $29.43. 30,501,299 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $31.00 and a 200-day moving average of $30.86. The firm has a market capitalization of $263.73 billion, a price-to-earnings ratio of 24.88 and a beta of 1.11. General Electric Co. has a 12 month low of $24.26 and a 12 month high of $33.00.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.05. The business earned $33.49 million during the quarter, compared to the consensus estimate of $31.76 billion. General Electric had a net margin of 9.14% and a return on equity of 15.04%. General Electric’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS. On average, equities analysts expect that General Electric Co. will post $1.51 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s dividend payout ratio is currently 77.97%.
A number of brokerages have weighed in on GE. Credit Suisse Group AG reiterated a “buy” rating on shares of General Electric in a report on Saturday, July 9th. Citigroup Inc. reiterated a “buy” rating on shares of General Electric in a report on Sunday, May 22nd. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of General Electric in a report on Tuesday, June 28th. Vetr lowered shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $33.10 price target on the stock. in a report on Wednesday, May 25th. Finally, JPMorgan Chase & Co. reiterated a “sell” rating on shares of General Electric in a report on Wednesday, June 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $32.65.
In other news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was acquired at an average cost of $31.45 per share, with a total value of $1,572,500.00. Following the acquisition, the chairman now owns 2,198,688 shares in the company, valued at $69,148,737.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.23% of the company’s stock.
About General Electric
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