Bank of Nova Scotia Sells 623,219 Shares of General Motors Company (NYSE:GM)

Bank of Nova Scotia lowered its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 68.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 292,958 shares of the auto manufacturer's stock after selling 623,219 shares during the period. Bank of Nova Scotia's holdings in General Motors were worth $13,778,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. grew its position in shares of General Motors by 305.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock worth $134,457,000 after buying an additional 2,154,037 shares during the period. Jupiter Asset Management Ltd. bought a new position in General Motors in the first quarter valued at approximately $86,900,000. AustralianSuper Pty Ltd grew its holdings in General Motors by 38.9% during the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock worth $287,428,000 after acquiring an additional 1,712,033 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of General Motors during the 4th quarter valued at $60,198,000. Finally, Victory Capital Management Inc. raised its position in shares of General Motors by 51.0% during the 1st quarter. Victory Capital Management Inc. now owns 3,148,956 shares of the auto manufacturer's stock valued at $148,095,000 after acquiring an additional 1,063,606 shares during the last quarter. Institutional investors own 92.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GM shares. UBS Group lifted 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. Wedbush restated an "outperform" rating and set a $55.00 target price on shares of General Motors in a research report on Wednesday, July 23rd. Benchmark started coverage on General Motors in a research note on Monday, July 21st. They issued a "buy" rating and a $65.00 price target for the company. Mizuho lifted their price objective on shares of General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of General Motors from $56.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, General Motors has a consensus rating of "Hold" and a consensus target price of $56.35.

General Motors Trading Down 1.5%

NYSE:GM opened at $52.52 on Monday. The company has a market cap of $50.00 billion, a P/E ratio of 8.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. General Motors Company has a twelve month low of $38.96 and a twelve month high of $61.24. The business has a 50 day moving average price of $50.55 and a two-hundred day moving average price of $48.77. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results 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 during the quarter, compared to analysts' expectations of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The firm's revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.06 earnings per share. As a group, analysts expect that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. General Motors's payout ratio is currently 9.52%.

General Motors 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.

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