Ascent Group LLC Sells 26,625 Shares of General Motors Company $GM

Key Points

• Ascent Group LLC reduced its stake in General Motors by 67.8%, owning 12,667 shares valued at $596,000 after selling 26,625 shares in the first quarter.
• The company reported $2.53 EPS for the most recent quarter, surpassing the consensus estimate, with revenue of $47.12 billion, slightly higher than expectations.
• General Motors has declared a quarterly dividend of $0.15 per share, indicating a 1.0% dividend yield and a payout ratio of 9.52% for the company.

Ascent Group LLC lessened its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 67.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,667 shares of the auto manufacturer's stock after selling 26,625 shares during the period. Ascent Group LLC's holdings in General Motors were worth $596,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in General Motors by 456.1% in the 4th quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock valued at $2,062,000 after buying an additional 31,755 shares in the last quarter. Focus Partners Wealth raised its stake in General Motors by 3.6% during the fourth quarter. Focus Partners Wealth now owns 111,321 shares of the auto manufacturer's stock worth $5,957,000 after acquiring an additional 3,900 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of General Motors by 11.9% during the fourth quarter. Lazard Asset Management LLC now owns 66,239 shares of the auto manufacturer's stock valued at $3,527,000 after acquiring an additional 7,046 shares during the period. Measured Risk Portfolios Inc. acquired a new stake in shares of General Motors in the 4th quarter valued at $27,000. Finally, NorthRock Partners LLC grew its holdings in shares of General Motors by 80.9% in the 4th quarter. NorthRock Partners LLC now owns 14,233 shares of the auto manufacturer's stock worth $758,000 after purchasing an additional 6,367 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other General Motors news, CEO Mary T. Barra sold 907,024 shares of General Motors stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $58.24, for a total transaction of $52,825,077.76. Following the completion of the sale, the chief executive officer owned 552,238 shares of the company's stock, valued at approximately $32,162,341.12. The trade was a 62.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christopher Hatto sold 36,804 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $55.10, for a total transaction of $2,027,900.40. Following the sale, the chief accounting officer owned 12,007 shares of the company's stock, valued at $661,585.70. The trade was a 75.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,070,311 shares of company stock valued at $62,095,433. 0.54% of the stock is currently owned by insiders.

General Motors Trading Down 0.3%

NYSE:GM traded down $0.20 during trading hours on Friday, hitting $58.51. 12,020,227 shares of the stock were exchanged, compared to its average volume of 6,148,473. The company has a market capitalization of $55.71 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 1.24 and a beta of 1.32. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. The company's 50 day moving average is $55.09 and its two-hundred day moving average is $50.32. General Motors Company has a twelve month low of $41.60 and a twelve month high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, topping analysts' consensus estimates of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The company had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. During the same quarter in the previous year, the company posted $3.06 earnings per share. The firm's quarterly revenue was down 1.8% on a year-over-year basis. 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 fiscal year.

General Motors Dividend Announcement

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

Wall Street Analyst Weigh In

GM has been the subject of several analyst reports. CLSA raised shares of General Motors to a "moderate buy" rating in a report on Monday, July 7th. Mizuho lifted their target price on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Royal Bank Of Canada restated an "outperform" rating on shares of General Motors in a research report on Thursday, July 24th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of General Motors in a report on Friday, July 11th. Finally, Wedbush boosted their price objective on General Motors from $55.00 to $65.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $59.00.

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.