BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 11.9% during the second quarter, Holdings Channel reports. The fund owned 483,416 shares of the auto manufacturer’s stock after selling 65,084 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in General Motors were worth $16,886,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. Clearbridge Investments LLC increased its stake in General Motors by 26,374.8% in the first quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock worth $140,394,000 after buying an additional 3,955,426 shares during the last quarter. Prudential Financial Inc. increased its stake in General Motors by 129.2% in the first quarter. Prudential Financial Inc. now owns 6,068,335 shares of the auto manufacturer’s stock worth $214,576,000 after buying an additional 3,420,200 shares during the last quarter. Vanguard Group Inc. increased its stake in General Motors by 3.2% in the first quarter. Vanguard Group Inc. now owns 89,853,324 shares of the auto manufacturer’s stock worth $3,177,214,000 after buying an additional 2,744,821 shares during the last quarter. Alliancebernstein L.P. increased its stake in General Motors by 87.0% in the first quarter. Alliancebernstein L.P. now owns 5,174,420 shares of the auto manufacturer’s stock worth $182,967,000 after buying an additional 2,407,818 shares during the last quarter. Finally, State Street Corp increased its stake in General Motors by 3.9% in the first quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock worth $2,136,563,000 after buying an additional 2,252,866 shares during the last quarter. Institutional investors own 75.56% of the company’s stock.
Shares of General Motors Company (NYSE:GM) opened at 35.47 on Tuesday. The stock’s 50 day moving average is $35.40 and its 200 day moving average is $35.09. The firm has a market capitalization of $51.69 billion, a price-to-earnings ratio of 6.17 and a beta of 1.45. General Motors Company has a 12 month low of $30.13 and a 12 month high of $38.55.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The business had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. During the same period in the prior year, the company posted $1.86 earnings per share. General Motors’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts forecast that General Motors Company will post $6.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.29%. General Motors’s dividend payout ratio (DPR) is presently 26.48%.
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GM has been the topic of a number of recent research reports. Nomura restated a “buy” rating and set a $47.00 price target on shares of General Motors in a report on Tuesday, May 2nd. Royal Bank Of Canada restated a “hold” rating and set a $37.00 price target on shares of General Motors in a report on Friday, July 14th. BidaskClub upgraded shares of General Motors from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. BMO Capital Markets restated a “market perform” rating on shares of General Motors in a report on Wednesday, May 3rd. Finally, Vetr downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $37.42 price target on the stock. in a report on Monday, July 17th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $39.26.
In related news, insider Karl-Thomas Neumann sold 46,472 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $32.84, for a total value of $1,526,140.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Patricia F. Russo purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was acquired at an average price of $34.73 per share, for a total transaction of $347,300.00. Following the completion of the purchase, the director now directly owns 12,300 shares of the company’s stock, valued at approximately $427,179. The disclosure for this purchase can be found here. Insiders sold 369,001 shares of company stock worth $12,827,204 over the last 90 days. 0.04% of the stock is currently owned by corporate insiders.
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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