ProShare Advisors LLC increased its holdings in shares of General Motors (NYSE:GM – Free Report) (TSE:GMM.U) by 25.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,498 shares of the auto manufacturer’s stock after purchasing an additional 48,130 shares during the period. ProShare Advisors LLC’s holdings in General Motors were worth $8,785,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Toroso Investments LLC lifted its stake in General Motors by 15.5% in the 1st quarter. Toroso Investments LLC now owns 52,618 shares of the auto manufacturer’s stock valued at $1,930,000 after acquiring an additional 7,062 shares in the last quarter. EMC Capital Management lifted its position in General Motors by 100.0% during the 1st quarter. EMC Capital Management now owns 2,000 shares of the auto manufacturer’s stock worth $73,000 after buying an additional 1,000 shares in the last quarter. Putnam Investments LLC lifted its position in General Motors by 16.5% during the 1st quarter. Putnam Investments LLC now owns 15,008,543 shares of the auto manufacturer’s stock worth $550,513,000 after buying an additional 2,123,573 shares in the last quarter. Arete Wealth Advisors LLC bought a new stake in shares of General Motors during the 1st quarter worth approximately $214,000. Finally, Advanced Portfolio Management LLC bought a new stake in shares of General Motors during the 1st quarter worth approximately $3,668,000. 79.62% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the company. Citigroup upped their price objective on General Motors from $85.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, July 12th. Wells Fargo & Company upped their target price on shares of General Motors from $30.00 to $32.00 in a report on Monday, July 10th. Bank of America upped their target price on shares of General Motors from $72.00 to $75.00 in a report on Wednesday, July 26th. The Goldman Sachs Group increased their price target on General Motors from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, July 14th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $48.00 price target on shares of General Motors in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and a consensus target price of $50.67.
Insider Activity at General Motors
In related news, President Mark L. Reuss sold 9,300 shares of General Motors stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $41.00, for a total transaction of $381,300.00. Following the sale, the president now directly owns 282,973 shares of the company’s stock, valued at approximately $11,601,893. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by insiders.
General Motors Stock Performance
Shares of NYSE:GM opened at $33.95 on Friday. The company’s 50 day simple moving average is $35.70 and its 200 day simple moving average is $35.43. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.15 and a quick ratio of 0.96. General Motors has a 1 year low of $31.10 and a 1 year high of $43.63. The stock has a market capitalization of $46.71 billion, a price-to-earnings ratio of 4.74, a price-to-earnings-growth ratio of 0.45 and a beta of 1.39.
General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.05. General Motors had a return on equity of 16.70% and a net margin of 6.05%. The company had revenue of $44.75 billion for the quarter, compared to analyst estimates of $42.13 billion. During the same quarter last year, the company posted $1.14 EPS. The company’s revenue for the quarter was up 25.1% compared to the same quarter last year. As a group, research analysts predict that General Motors will post 7.59 EPS for the current fiscal year.
General Motors Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Friday, September 1st were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Thursday, August 31st. General Motors’s dividend payout ratio (DPR) is presently 5.03%.
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.
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