ClariVest Asset Management LLC Holds Stake in General Motors Company (GM)
ClariVest Asset Management LLC held its position in General Motors Company (NYSE:GM) (TSE:GMM.U) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,248 shares of the auto manufacturer’s stock at the end of the second quarter. ClariVest Asset Management LLC’s holdings in General Motors were worth $882,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wedbush Securities Inc. increased its position in General Motors by 12.5% in the second quarter. Wedbush Securities Inc. now owns 52,598 shares of the auto manufacturer’s stock worth $1,837,000 after buying an additional 5,851 shares during the period. IFC Holdings Incorporated FL increased its position in General Motors by 0.3% in the second quarter. IFC Holdings Incorporated FL now owns 32,119 shares of the auto manufacturer’s stock worth $1,120,000 after buying an additional 88 shares during the period. Pekin Singer Strauss Asset Management IL increased its position in General Motors by 3.7% in the second quarter. Pekin Singer Strauss Asset Management IL now owns 65,926 shares of the auto manufacturer’s stock worth $2,303,000 after buying an additional 2,323 shares during the period. First Trust Advisors LP increased its position in General Motors by 1.6% in the second quarter. First Trust Advisors LP now owns 968,894 shares of the auto manufacturer’s stock worth $33,843,000 after buying an additional 14,860 shares during the period. Finally, Arizona State Retirement System increased its position in General Motors by 0.9% in the second quarter. Arizona State Retirement System now owns 340,600 shares of the auto manufacturer’s stock worth $11,897,000 after buying an additional 3,100 shares during the period. Hedge funds and other institutional investors own 75.56% of the company’s stock.
General Motors Company (NYSE:GM) opened at 34.83 on Friday. The stock’s 50 day moving average price is $35.49 and its 200 day moving average price is $35.08. The company has a market capitalization of $50.75 billion, a PE ratio of 6.06 and a beta of 1.45. General Motors Company has a 12-month low of $30.13 and a 12-month high of $38.55. General Motors also was the target of unusually large options trading activity on Wednesday. Traders bought 13,561 call options on the stock. This represents an increase of 162% compared to the typical volume of 5,175 call options.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The business had revenue of $36.98 billion during the quarter, compared to the consensus estimate of $37.67 billion. During the same period in the previous year, the firm posted $1.86 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts anticipate that General Motors Company will post $6.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid 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 dividend yield of 4.36%. General Motors’s payout ratio is currently 26.48%.
A number of research firms have weighed in on GM. BidaskClub upgraded General Motors from a “hold” rating to a “buy” rating in a report on Thursday. Berenberg Bank set a $31.00 target price on General Motors and gave the stock a “sell” rating in a report on Monday, August 14th. Zacks Investment Research upgraded General Motors from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Vetr downgraded General Motors from a “buy” rating to a “hold” rating and set a $37.42 target price on the stock. in a report on Monday, July 31st. Finally, ValuEngine upgraded General Motors from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have given a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $39.26.
In related news, Director Jane L. Mendillo acquired 1,520 shares of the stock in a transaction dated Friday, May 26th. The stock was acquired at an average cost of $32.92 per share, for a total transaction of $50,038.40. Following the completion of the purchase, the director now owns 3,120 shares of the company’s stock, valued at approximately $102,710.40. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Karl-Thomas Neumann sold 234,274 shares of General Motors stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $34.77, for a total transaction of $8,145,706.98. Following the sale, the insider now owns 234,274 shares of the company’s stock, valued at $8,145,706.98. The disclosure for this sale can be found here. Insiders have sold 377,145 shares of company stock valued at $13,116,886 over the last quarter. Insiders own 0.04% of the company’s stock.
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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