Staley Capital Advisers Inc. Cuts Stake in General Motors (GM)
Staley Capital Advisers Inc. cut its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.2% in the first quarter, Holdings Channel reports. The institutional investor owned 1,192,793 shares of the auto manufacturer’s stock after selling 14,969 shares during the quarter. General Motors accounts for about 3.3% of Staley Capital Advisers Inc.’s portfolio, making the stock its 10th biggest holding. Staley Capital Advisers Inc.’s holdings in General Motors were worth $44,253,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Liberty Wealth Management LLC bought a new stake in shares of General Motors during the fourth quarter worth $30,000. Massey Quick Simon & CO. LLC bought a new stake in shares of General Motors during the first quarter worth $35,000. Truvestments Capital LLC bought a new stake in shares of General Motors during the first quarter worth $37,000. Bremer Bank National Association bought a new stake in shares of General Motors during the first quarter worth $37,000. Finally, Proficio Capital Partners LLC grew its holdings in shares of General Motors by 57.6% during the fourth quarter. Proficio Capital Partners LLC now owns 1,325 shares of the auto manufacturer’s stock worth $44,000 after purchasing an additional 484 shares during the last quarter. Institutional investors own 76.97% of the company’s stock.
NYSE:GM traded up $0.17 during mid-day trading on Monday, hitting $33.51. The company had a trading volume of 254,610 shares, compared to its average volume of 9,619,474. General Motors has a fifty-two week low of $30.56 and a fifty-two week high of $45.00. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $47.03 billion, a price-to-earnings ratio of 5.13, a PEG ratio of 0.57 and a beta of 1.34.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date is Thursday, June 6th. General Motors’s dividend payout ratio is presently 23.24%.
GM has been the topic of several recent research reports. Zacks Investment Research cut General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 10th. ValuEngine cut General Motors from a “hold” rating to a “sell” rating in a report on Saturday. Goldman Sachs Group reiterated a “neutral” rating and issued a $36.00 price target on shares of General Motors in a report on Tuesday, March 26th. Seaport Global Securities initiated coverage on General Motors in a report on Wednesday, February 13th. They issued a “buy” rating on the stock. Finally, Nomura set a $42.00 price target on General Motors and gave the company a “hold” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. General Motors currently has an average rating of “Buy” and an average target price of $47.43.
In other General Motors news, CFO Dhivya Suryadevara sold 34,756 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $37.40, for a total value of $1,299,874.40. Following the completion of the transaction, the chief financial officer now directly owns 10,741 shares in the company, valued at $401,713.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Wesley G. Bush purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was bought at an average price of $38.58 per share, with a total value of $385,800.00. The disclosure for this purchase can be found here. 0.51% of the stock is currently owned by company insiders.
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General Motors Profile
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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