Family Legacy Inc. Cuts Stake in General Motors (NYSE:GM)

Family Legacy Inc. trimmed its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,455 shares of the auto manufacturer’s stock after selling 1,173 shares during the quarter. Family Legacy Inc.’s holdings in General Motors were worth $447,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. VisionPoint Advisory Group LLC acquired a new position in General Motors in the second quarter valued at approximately $25,000. SouthState Corp raised its holdings in General Motors by 173.8% during the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after purchasing an additional 485 shares in the last quarter. Penserra Capital Management LLC raised its holdings in General Motors by 85.8% during the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock worth $26,000 after purchasing an additional 283 shares in the last quarter. BluePath Capital Management LLC bought a new position in shares of General Motors in the third quarter valued at $33,000. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of General Motors in the third quarter valued at $49,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GM has been the topic of several research reports. Redburn Atlantic initiated coverage on General Motors in a report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 price target on the stock. The Goldman Sachs Group upped their price target on General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Wolfe Research raised shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research note on Thursday, January 4th. HSBC began coverage on shares of General Motors in a research note on Monday, December 4th. They set a “buy” rating and a $41.30 target price on the stock. Finally, TheStreet raised shares of General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.63.

General Motors Stock Up 1.0 %

NYSE:GM traded up $0.45 during trading hours on Tuesday, reaching $44.00. The company’s stock had a trading volume of 15,860,538 shares, compared to its average volume of 18,508,104. The company has a market cap of $50.79 billion, a price-to-earnings ratio of 6.02, a price-to-earnings-growth ratio of 0.53 and a beta of 1.50. General Motors has a one year low of $26.30 and a one year high of $44.57. The business’s 50-day moving average is $38.91 and its 200-day moving average is $34.38. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.08 and a quick ratio of 0.90.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.08. The firm had revenue of $42.98 billion during the quarter, compared to analysts’ expectations of $38.81 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. General Motors’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $2.12 earnings per share. Equities research analysts predict that General Motors will post 9 EPS for the current year.

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Friday, March 1st were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from General Motors’s previous quarterly dividend of $0.09. This represents a $0.48 dividend on an annualized basis and a yield of 1.09%. General Motors’s dividend payout ratio is currently 6.57%.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 5,100 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $43.04, for a total transaction of $219,504.00. Following the completion of the transaction, the executive vice president now owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other General Motors news, CAO Christopher Hatto sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $42.01, for a total transaction of $252,060.00. Following the completion of the transaction, the chief accounting officer now owns 15,507 shares of the company’s stock, valued at approximately $651,449.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 5,100 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $43.04, for a total transaction of $219,504.00. Following the transaction, the executive vice president now directly owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,626 shares of company stock worth $2,229,036. Corporate insiders own 0.54% of the company’s stock.

General Motors Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.