Sei Investments Co. Grows Stake in General Motors Company (NYSE:GM)

Sei Investments Co. lifted its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 6.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,188,589 shares of the auto manufacturer’s stock after purchasing an additional 76,079 shares during the period. Sei Investments Co.’s holdings in General Motors were worth $57,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of General Motors in the 4th quarter worth $25,404,000. Cassia Capital Partners LLC boosted its stake in shares of General Motors by 63.0% in the 1st quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer’s stock worth $879,000 after buying an additional 7,221 shares during the last quarter. AustralianSuper Pty Ltd boosted its stake in shares of General Motors by 38.9% in the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer’s stock worth $287,428,000 after buying an additional 1,712,033 shares during the last quarter. Sowell Financial Services LLC bought a new position in General Motors in the 1st quarter worth $312,000. Finally, Malaga Cove Capital LLC bought a new position in General Motors in the 1st quarter worth $292,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at General Motors

In other General Motors news, EVP Rory Harvey sold 23,977 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total value of $1,271,020.77. Following the sale, the executive vice president owned 8,513 shares in the company, valued at $451,274.13. This trade represents a 73.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

General Motors Stock Up 2.7%

Shares of NYSE GM opened at $55.63 on Thursday. The firm’s 50-day moving average price is $51.34 and its 200-day moving average price is $48.86. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $52.96 billion, a price-to-earnings ratio of 8.83, a P/E/G ratio of 1.15 and a beta of 1.36. General Motors Company has a 12-month low of $41.60 and a 12-month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.01. The company had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%. General Motors’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the company earned $3.06 earnings per share. On average, equities research analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be given a $0.15 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. General Motors’s dividend payout ratio (DPR) is currently 9.52%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. BNP Paribas raised General Motors to a “strong-buy” rating in a report on Monday, May 5th. Piper Sandler reaffirmed a “neutral” rating and issued a $48.00 target price (up from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Benchmark assumed coverage on General Motors in a report on Monday, July 21st. They issued a “buy” rating and a $65.00 target price on the stock. Bank of America decreased their target price on General Motors from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Finally, Barclays raised their target price on General Motors from $45.00 to $55.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, General Motors has a consensus rating of “Hold” and an average price target of $57.53.

About General Motors

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.