BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 5,953 Shares of General Motors (GM)
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 477,463 shares of the auto manufacturer’s stock after selling 5,953 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in General Motors were worth $19,280,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. YorkBridge Wealth Partners LLC lifted its stake in shares of General Motors by 43.5% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock valued at $101,000 after purchasing an additional 860 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of General Motors by 10.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock valued at $113,000 after purchasing an additional 310 shares during the period. Ffcm LLC lifted its stake in shares of General Motors by 2,008.1% in the 2nd quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock valued at $120,000 after purchasing an additional 3,213 shares during the period. Ropes Wealth Advisors LLC lifted its stake in shares of General Motors by 240.2% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 4,600 shares of the auto manufacturer’s stock valued at $161,000 after purchasing an additional 3,248 shares during the period. Finally, Fayez Sarofim & Co. acquired a new position in shares of General Motors in the 3rd quarter valued at about $202,000. 73.06% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Nysschen Carel J. De sold 123,645 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $44.59, for a total value of $5,513,330.55. Following the completion of the transaction, the executive vice president now directly owns 150,484 shares of the company’s stock, valued at $6,710,081.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Alicia S. Boler-Davis sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $40.90, for a total value of $409,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,059,526 shares of company stock valued at $44,428,425 over the last three months. Corporate insiders own 0.04% of the company’s stock.
A number of research firms recently weighed in on GM. Piper Jaffray Companies reaffirmed a “buy” rating and set a $44.00 price target on shares of General Motors in a research note on Tuesday, September 12th. Vetr downgraded General Motors from a “buy” rating to a “hold” rating and set a $43.99 price target on the stock. in a research note on Monday, November 13th. Citigroup reaffirmed a “buy” rating and set a $53.00 price target on shares of General Motors in a research note on Monday, October 2nd. Berenberg Bank set a $31.00 price target on General Motors and gave the stock a “sell” rating in a research note on Monday, August 14th. Finally, Cascend Securities downgraded General Motors to a “buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. General Motors presently has an average rating of “Hold” and a consensus target price of $43.70.
Shares of General Motors (NYSE GM) traded up $0.25 on Friday, reaching $42.02. The company’s stock had a trading volume of 16,450,800 shares, compared to its average volume of 13,484,771. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.94 and a quick ratio of 0.79. The company has a market cap of $59,870.20, a price-to-earnings ratio of 6.81, a P/E/G ratio of 0.73 and a beta of 1.54. General Motors has a 1 year low of $31.92 and a 1 year high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.25. The firm had revenue of $30.48 billion during the quarter, compared to analyst estimates of $29.93 billion. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.72 EPS. analysts expect that General Motors will post 6.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Friday, December 8th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Thursday, December 7th. General Motors’s dividend payout ratio is currently 77.95%.
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General Motors Company Profile
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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