General Motors Company $GM Stake Boosted by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its stake in General Motors by 62.1%, acquiring 1,774,513 shares, bringing its total holdings to 4,633,472 shares valued at approximately $228 million.
• Institutional ownership of General Motors stock is high, with 92.67% of shares held by institutional investors, indicating strong interest from large financial entities.
• General Motors announced a quarterly dividend of $0.15 per share, translating to an annualized yield of 1.0%, reflecting the company's strategy to return value to shareholders.

Assenagon Asset Management S.A. raised its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 62.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,633,472 shares of the auto manufacturer's stock after acquiring an additional 1,774,513 shares during the quarter. Assenagon Asset Management S.A. owned 0.48% of General Motors worth $228,013,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of GM. Brighton Jones LLC grew its position in General Motors by 456.1% in the fourth quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock valued at $2,062,000 after acquiring an additional 31,755 shares in the last quarter. Vident Advisory LLC grew its position in General Motors by 8.3% in the fourth quarter. Vident Advisory LLC now owns 15,982 shares of the auto manufacturer's stock valued at $851,000 after acquiring an additional 1,223 shares in the last quarter. Woodline Partners LP acquired a new stake in General Motors in the fourth quarter valued at approximately $3,518,000. Waverly Advisors LLC grew its position in General Motors by 71.9% in the fourth quarter. Waverly Advisors LLC now owns 21,166 shares of the auto manufacturer's stock valued at $1,127,000 after acquiring an additional 8,851 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in General Motors by 13.1% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 215,217 shares of the auto manufacturer's stock valued at $11,465,000 after acquiring an additional 24,929 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

Analyst Ratings Changes

GM has been the subject of a number of recent analyst reports. Citigroup raised their price target on shares of General Motors from $61.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday. Industrial Alliance Securities set a $70.00 price target on shares of General Motors in a research report on Friday, July 11th. UBS Group raised their price objective on General Motors from $50.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. CLSA upgraded General Motors to a "moderate buy" rating in a research note on Monday, July 7th. Finally, Barclays upgraded General Motors from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $55.00 to $73.00 in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $60.21.

Insider Activity at General Motors

In related news, CEO Mary T. Barra sold 29,486 shares of General Motors stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $59.92, for a total transaction of $1,766,801.12. Following the sale, the chief executive officer directly owned 633,527 shares in the company, valued at $37,960,937.84. The trade was a 4.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christopher Hatto sold 14,667 shares of General Motors stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $59.00, for a total transaction of $865,353.00. Following the sale, the chief accounting officer owned 12,007 shares in the company, valued at approximately $708,413. This represents a 54.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,104,256 shares of company stock worth $64,129,551 over the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

General Motors Stock Performance

GM stock traded up $0.22 during mid-day trading on Tuesday, reaching $59.10. The company had a trading volume of 1,789,267 shares, compared to its average volume of 11,161,031. General Motors Company has a one year low of $41.60 and a one year high of $61.24. The stock's 50-day simple moving average is $55.82 and its two-hundred day simple moving average is $50.83. 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 stock has a market capitalization of $56.26 billion, a P/E ratio of 9.38, a P/E/G ratio of 1.24 and a beta of 1.32.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, beating analysts' consensus estimates of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The business had revenue of $47.12 billion for the quarter, compared to analysts' expectations of $45.87 billion. During the same period in the previous year, the business earned $3.06 earnings per share. The company's 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. Research analysts anticipate that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Friday, September 5th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, September 5th. General Motors's payout ratio is currently 9.52%.

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.