Skandinaviska Enskilda Banken AB publ Has $59.77 Million Stock Position in General Motors Company $GM

Skandinaviska Enskilda Banken AB publ lessened its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 5.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,214,603 shares of the auto manufacturer’s stock after selling 66,400 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in General Motors were worth $59,771,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GM. Trust Co. of Toledo NA OH acquired a new position in General Motors during the 2nd quarter worth approximately $25,000. GFG Capital LLC bought a new stake in shares of General Motors during the second quarter valued at approximately $27,000. RMG Wealth Management LLC bought a new stake in shares of General Motors during the second quarter valued at approximately $32,000. Costello Asset Management INC acquired a new position in shares of General Motors during the first quarter worth approximately $32,000. Finally, WPG Advisers LLC bought a new position in shares of General Motors in the 1st quarter worth $34,000. 92.67% of the stock is owned by institutional investors.

General Motors Price Performance

General Motors stock opened at $72.82 on Friday. General Motors Company has a 52 week low of $41.60 and a 52 week high of $73.45. The company’s 50 day moving average price is $64.72 and its two-hundred day moving average price is $56.93. The stock has a market cap of $67.93 billion, a P/E ratio of 14.65, a P/E/G ratio of 0.96 and a beta of 1.41. The company has a quick ratio of 1.06, a current ratio of 1.23 and a debt-to-equity ratio of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.48. The company had revenue of $48.59 billion during the quarter, compared to analyst estimates of $44.60 billion. General Motors had a return on equity of 12.29% and a net margin of 1.62%.General Motors’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $2.96 earnings per share. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. On average, equities analysts predict that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, December 5th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. General Motors’s dividend payout ratio (DPR) is currently 12.07%.

Insiders Place Their Bets

In other General Motors news, President Mark L. Reuss sold 260,600 shares of General Motors stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $66.45, for a total value of $17,316,870.00. Following the sale, the president owned 98,006 shares of the company’s stock, valued at approximately $6,512,498.70. The trade was a 72.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Christopher Hatto sold 7,724 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $72.00, for a total transaction of $556,128.00. Following the completion of the transaction, the chief accounting officer owned 12,007 shares in the company, valued at approximately $864,504. The trade was a 39.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,288,534 shares of company stock valued at $79,253,568. 0.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on GM. Jefferies Financial Group boosted their price target on shares of General Motors from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, October 6th. Zacks Research upgraded shares of General Motors from a “hold” rating to a “strong-buy” rating in a report on Friday, October 24th. JPMorgan Chase & Co. boosted their target price on shares of General Motors from $60.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 30th. Barclays upped their target price on shares of General Motors from $77.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, Benchmark reiterated a “buy” rating on shares of General Motors in a research note on Wednesday, October 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, General Motors currently has an average rating of “Moderate Buy” and a consensus target price of $70.27.

General Motors Company 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.