Cerity Partners LLC Sells 90,898 Shares of General Motors (NYSE:GM)

Cerity Partners LLC reduced its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 21.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 338,397 shares of the auto manufacturer's stock after selling 90,898 shares during the period. Cerity Partners LLC's holdings in General Motors were worth $18,026,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Trust Point Inc. boosted its holdings in shares of General Motors by 2.7% during the fourth quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer's stock worth $386,000 after purchasing an additional 193 shares during the last quarter. Continuum Advisory LLC increased its holdings in shares of General Motors by 7.9% during the 3rd quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer's stock worth $131,000 after buying an additional 213 shares during the last quarter. Holistic Planning LLC raised its position in shares of General Motors by 3.9% in the 4th quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer's stock worth $307,000 after buying an additional 214 shares during the period. Nemes Rush Group LLC grew its position in General Motors by 18.7% during the fourth quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer's stock valued at $73,000 after acquiring an additional 217 shares during the period. Finally, Norden Group LLC raised its holdings in shares of General Motors by 3.0% in the 4th quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer's stock worth $421,000 after purchasing an additional 229 shares during the period. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Price Performance

NYSE:GM traded down $0.81 during midday trading on Tuesday, hitting $44.33. 3,596,381 shares of the stock were exchanged, compared to its average volume of 13,544,234. The business has a 50-day moving average price of $47.31 and a two-hundred day moving average price of $50.38. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $44.11 billion, a price-to-earnings ratio of 7.20, a P/E/G ratio of 0.67 and a beta of 1.27. General Motors has a one year low of $38.96 and a one year high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Sell-side analysts predict that General Motors will post 11.44 EPS for the current year.

General Motors declared that its board has approved a share buyback plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.08%. General Motors's dividend payout ratio is presently 7.80%.

Insider Buying and Selling at General Motors

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business's stock in a transaction on Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GM. Mizuho cut their price target on shares of General Motors from $63.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. Cowen assumed coverage on General Motors in a research note on Thursday, March 6th. They set a "buy" rating for the company. JPMorgan Chase & Co. cut their target price on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Sanford C. Bernstein downgraded General Motors from a "market perform" rating to an "underperform" rating and decreased their price target for the stock from $50.00 to $35.00 in a research note on Monday, April 7th. Finally, Piper Sandler upped their price objective on General Motors from $45.00 to $48.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, General Motors has a consensus rating of "Hold" and an average target price of $56.72.

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.