General Motors Company $GM Shares Sold by Allstate Corp

Key Points

• Allstate Corp has decreased its holdings in General Motors by 43.4%, selling 14,517 shares, leaving them with 18,965 shares worth approximately $892,000.
• Other institutional investors, including Vanguard Group and Assenagon Asset Management, have recently increased their shares in General Motors, with a significant portion of the company's stock (92.67%) now owned by institutional investors.
• General Motors announced a quarterly dividend of $0.15 per share, to be paid on September 18th, representing an annualized dividend yield of 1.0% with a payout ratio of 9.52%.

Allstate Corp lowered its position in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 43.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,965 shares of the auto manufacturer's stock after selling 14,517 shares during the period. Allstate Corp's holdings in General Motors were worth $892,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of General Motors by 6.9% during the first quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock worth $4,672,023,000 after buying an additional 6,395,375 shares during the period. Nuveen LLC purchased a new position in shares of General Motors in the 1st quarter valued at approximately $175,889,000. Assenagon Asset Management S.A. raised its stake in shares of General Motors by 305.6% during the first quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock worth $134,457,000 after purchasing an additional 2,154,037 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of General Motors during the first quarter worth $86,900,000. Finally, AustralianSuper Pty Ltd grew its position in General Motors by 38.9% in the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock valued at $287,428,000 after buying an additional 1,712,033 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Price Performance

Shares of GM stock traded up $0.10 during mid-day trading on Friday, reaching $58.59. The stock had a trading volume of 2,183,053 shares, compared to its average volume of 11,571,553. The company has a market cap of $55.78 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 1.24 and a beta of 1.36. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. General Motors Company has a 12-month low of $41.60 and a 12-month high of $61.24. The business has a 50-day simple moving average of $53.32 and a 200 day simple moving average of $49.50.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, topping the consensus estimate of $2.52 by $0.01. The business had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The business's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.06 EPS. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. On average, sell-side analysts anticipate that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be given a $0.15 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. General Motors's dividend payout ratio is currently 9.52%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. The Goldman Sachs Group restated a "buy" rating on shares of General Motors in a research note on Friday, July 11th. Mizuho increased their price target on shares of General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Benchmark assumed coverage on General Motors in a report on Monday, July 21st. They issued a "buy" rating and a $65.00 price objective on the stock. Piper Sandler reiterated a "neutral" rating and set a $48.00 target price (up previously from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Finally, Sanford C. Bernstein set a $36.00 price target on General Motors in a report on Monday, May 5th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, General Motors has a consensus rating of "Hold" and an average target price of $58.05.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 23,977 shares of General Motors stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the completion of the transaction, the executive vice president directly owned 8,513 shares in the company, valued at $451,274.13. The trade was a 73.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Christopher Hatto sold 36,804 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $55.10, for a total value of $2,027,900.40. Following the completion of the sale, the chief accounting officer directly owned 12,007 shares in the company, valued at approximately $661,585.70. The trade was a 75.40% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

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.