Meag Munich Ergo Kapitalanlagegesellschaft MBH Reduces Holdings in General Motors Company (GM)
Meag Munich Ergo Kapitalanlagegesellschaft MBH lessened its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 71.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 110,100 shares of the auto manufacturer’s stock after selling 282,051 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in General Motors were worth $4,482,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. YorkBridge Wealth Partners LLC boosted its position in General Motors by 43.5% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock worth $101,000 after purchasing an additional 860 shares during the period. Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of General Motors in the first quarter valued at approximately $106,000. FNY Managed Accounts LLC bought a new stake in shares of General Motors in the first quarter valued at approximately $107,000. State of Alaska Department of Revenue boosted its position in shares of General Motors by 10.5% in the second quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock valued at $113,000 after acquiring an additional 310 shares during the period. Finally, Ffcm LLC raised its stake in shares of General Motors by 2,008.1% in the second 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 in the last quarter. Hedge funds and other institutional investors own 74.51% of the company’s stock.
In other news, Director Jane L. Mendillo acquired 1,440 shares of the business’s stock in a transaction on Friday, August 18th. The shares were acquired at an average cost of $34.86 per share, with a total value of $50,198.40. Following the transaction, the director now owns 4,560 shares in the company, valued at approximately $158,961.60. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alan S. Batey sold 234,274 shares of General Motors stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $38.04, for a total value of $8,911,782.96. Following the sale, the insider now directly owns 67,548 shares in the company, valued at $2,569,525.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 971,122 shares of company stock worth $40,627,952. 0.04% of the stock is owned by corporate insiders.
Several research analysts have issued reports on the company. Vetr lowered General Motors from a “buy” rating to a “hold” rating and set a $43.99 price objective for the company. in a research note on Monday. Instinet cut General Motors from a “buy” rating to a “neutral” rating and raised their price target for the company from $42.90 to $43.00 in a report on Wednesday, November 1st. Nomura cut General Motors from a “buy” rating to a “hold” rating and raised their target price for the stock from $43.00 to $46.00 in a report on Wednesday, November 1st. Jefferies Group LLC raised their target price on General Motors from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, October 30th. Finally, Goldman Sachs Group, Inc. (The) lowered General Motors from a “neutral” rating to a “sell” rating and dropped their target price for the company from $43.16 to $32.00 in a research report on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $43.61.
General Motors Company (NYSE:GM) opened at $43.57 on Tuesday. 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 capitalization of $61,890.00, a price-to-earnings ratio of 6.89, a P/E/G ratio of 0.74 and a beta of 1.56. General Motors Company has a 12 month low of $31.92 and a 12 month high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.25. The firm had revenue of $30.48 billion for 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 business’s quarterly revenue was down 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.72 EPS. research analysts predict that General Motors Company will post 6.24 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Friday, December 8th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.49%. General Motors’s dividend payout ratio (DPR) is presently 32.90%.
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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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