Benjamin Edwards Inc. Decreases Stake in General Motors Company $GM

Key Points

• Benjamin Edwards Inc. reduced its stake in General Motors by 60.4% during the first quarter, now holding 5,313 shares valued at approximately $250,000.
• Insider trades show significant sell-offs, with CAO Christopher Hatto and EVP Rory Harvey reducing their shares by 75.4% and 73.8% respectively.
• General Motors announced a quarterly dividend of $0.15 per share, yielding 1.1%, to be paid on September 18th.

Benjamin Edwards Inc. lessened its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 60.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,313 shares of the auto manufacturer's stock after selling 8,095 shares during the quarter. Benjamin Edwards Inc.'s holdings in General Motors were worth $250,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in GM. Vanguard Group Inc. lifted its position 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 purchasing an additional 6,395,375 shares in the last quarter. Assenagon Asset Management S.A. lifted its position 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 in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of General Motors during the first quarter worth about $86,900,000. AustralianSuper Pty Ltd lifted its position in shares of General Motors by 38.9% during the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock worth $287,428,000 after purchasing an additional 1,712,033 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of General Motors during the fourth quarter worth about $60,198,000. Institutional investors and hedge funds own 92.67% of the company's stock.

Wall Street Analyst Weigh In

GM has been the topic of several analyst reports. UBS Group raised their target price on shares of General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Piper Sandler reaffirmed a "neutral" rating and issued a $48.00 target price (up previously from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Wedbush raised their target price on shares of General Motors from $55.00 to $65.00 and gave the company an "outperform" rating in a report on Tuesday. Mizuho raised their target price on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, Wells Fargo & Company raised their target price on shares of General Motors from $34.00 to $38.00 and gave the company an "underweight" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $58.05.

Insider Buying and Selling

In other news, EVP Rory Harvey sold 23,977 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the transaction, the executive vice president directly owned 8,513 shares in the company, valued at approximately $451,274.13. This trade represents a 73.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Christopher Hatto sold 36,804 shares of General Motors 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 completion of the transaction, the chief accounting officer owned 12,007 shares in the company, valued at approximately $661,585.70. This trade represents a 75.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

General Motors Stock Performance

Shares of GM traded up $0.7860 during mid-day trading on Tuesday, reaching $57.0160. 5,986,445 shares of the company's stock were exchanged, compared to its average volume of 11,830,087. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. The stock has a market capitalization of $54.28 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 1.19 and a beta of 1.36. The business's fifty day simple moving average is $51.87 and its 200-day simple moving average is $48.95. General Motors Company has a 52-week low of $41.60 and a 52-week high of $61.24.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the firm posted $3.06 earnings per share. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. On average, equities research analysts expect that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders 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 dividend yield of 1.1%. General Motors's dividend payout ratio (DPR) is 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.