General Motors Co. (GM) Shares Bought by Acadian Asset Management LLC
Acadian Asset Management LLC raised its stake in shares of General Motors Co. (NYSE:GM) by 6.5% during the second quarter, Holdings Channel reports. The firm owned 28,095 shares of the auto manufacturer’s stock after buying an additional 1,722 shares during the period. Acadian Asset Management LLC’s holdings in General Motors were worth $795,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. North Star Investment Management Corp. boosted its position in General Motors by 809.5% in the second quarter. North Star Investment Management Corp. now owns 4,602 shares of the auto manufacturer’s stock valued at $130,000 after buying an additional 4,096 shares during the period. Peapack Gladstone Financial Corp boosted its stake in shares of General Motors by 3.6% in the first quarter. Peapack Gladstone Financial Corp now owns 6,402 shares of the auto manufacturer’s stock valued at $201,000 after buying an additional 225 shares during the last quarter. Mariner Wealth Advisors LLC boosted its stake in shares of General Motors by 0.3% in the first quarter. Mariner Wealth Advisors LLC now owns 6,550 shares of the auto manufacturer’s stock valued at $206,000 after buying an additional 20 shares during the last quarter. V Wealth Management LLC boosted its stake in shares of General Motors by 4.7% in the second quarter. V Wealth Management LLC now owns 7,941 shares of the auto manufacturer’s stock valued at $225,000 after buying an additional 355 shares during the last quarter. Finally, Trust Co purchased a new stake in shares of General Motors during the first quarter valued at $271,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Motors Co. (NYSE:GM) traded down 0.48% during mid-day trading on Friday, reaching $30.97. The company’s stock had a trading volume of 12,780,811 shares. General Motors Co. has a 12-month low of $26.69 and a 12-month high of $36.88. The firm’s 50-day moving average price is $31.46 and its 200 day moving average price is $30.77. The firm has a market cap of $48.37 billion, a P/E ratio of 3.97 and a beta of 1.70.
General Motors (NYSE:GM) last announced its earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.35. General Motors had a return on equity of 23.96% and a net margin of 7.90%. The firm had revenue of $42.40 billion for the quarter, compared to the consensus estimate of $38.81 billion. During the same period in the previous year, the business earned $1.29 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts expect that General Motors Co. will post $5.84 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 9th will be paid a dividend of $0.38 per share. The ex-dividend date is Wednesday, September 7th. This represents a $1.52 annualized dividend and a yield of 4.91%. General Motors’s dividend payout ratio (DPR) is 19.46%.
Several brokerages recently weighed in on GM. Vetr raised General Motors from a “buy” rating to a “strong-buy” rating and set a $33.75 price target on the stock in a research note on Thursday, June 9th. Citigroup Inc. reaffirmed a “buy” rating and issued a $50.00 price target on shares of General Motors in a research note on Thursday, June 9th. Royal Bank Of Canada upped their price target on General Motors from $32.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Friday, July 22nd. Seaport Global Securities began coverage on General Motors in a research note on Tuesday, August 9th. They issued a “buy” rating and a $42.00 price target on the stock. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $36.00 price target on shares of General Motors in a research note on Thursday, August 11th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $35.70.
In other General Motors news, VP Thomas S. Timko sold 6,250 shares of General Motors stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $31.94, for a total transaction of $199,625.00. Following the completion of the sale, the vice president now owns 27,477 shares of the company’s stock, valued at approximately $877,615.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jane L. Mendillo purchased 1,600 shares of the stock in a transaction on Tuesday, August 2nd. The shares were purchased at an average cost of $31.01 per share, with a total value of $49,616.00. Following the transaction, the director now owns 1,600 shares in the company, valued at approximately $49,616. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.
General Motors Company Profile
General Motors Company (General Motors) designs, builds and sells cars, trucks and automobile parts across the world. The Company also provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s four automotive segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO) and GM South America (GMSA).
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