Staley Capital Advisers Inc. Sells 11,759 Shares of General Motors Company (NYSE:GM)

Key Points

• Staley Capital Advisers Inc. reduced its holdings in General Motors Company by 0.9%, now owning approximately 1.3 million shares valued at about $61.9 million.
• General Motors recently announced a quarterly dividend of $0.15 per share, which will be paid on September 18th, yielding an annualized $0.60.
• The company's latest earnings report showed a decrease in revenue by 1.8% year-over-year, reporting $47.12 billion with an EPS of $2.53, slightly exceeding analyst expectations.

Staley Capital Advisers Inc. trimmed its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 0.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,315,258 shares of the auto manufacturer's stock after selling 11,759 shares during the quarter. General Motors comprises 2.8% of Staley Capital Advisers Inc.'s portfolio, making the stock its 10th largest position. Staley Capital Advisers Inc. owned about 0.14% of General Motors worth $61,857,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Measured Risk Portfolios Inc. acquired a new position in shares of General Motors during the fourth quarter worth $27,000. Costello Asset Management INC purchased a new position in shares of General Motors in the first quarter valued at $32,000. Transce3nd LLC purchased a new position in shares of General Motors in the fourth quarter valued at $34,000. North Capital Inc. purchased a new position in shares of General Motors in the first quarter valued at $40,000. Finally, Ossiam purchased a new position in shares of General Motors in the fourth quarter valued at $44,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein set a $36.00 target price on shares of General Motors in a research note on Monday, May 5th. Piper Sandler reaffirmed a "neutral" rating and issued a $48.00 price target (up from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Wedbush reaffirmed an "outperform" rating and issued a $55.00 price target on shares of General Motors in a report on Wednesday, July 23rd. Barclays upped their price target on shares of General Motors from $45.00 to $55.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Finally, BNP Paribas raised shares of General Motors to a "strong-buy" rating in a report on Monday, May 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, General Motors has a consensus rating of "Hold" and a consensus price target of $57.53.

General Motors Stock Up 0.9%

NYSE:GM traded up $0.49 during trading hours on Friday, reaching $56.91. 2,287,055 shares of the stock were exchanged, compared to its average volume of 11,878,373. General Motors Company has a twelve month low of $41.60 and a twelve month high of $61.24. 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 firm has a 50 day moving average of $51.52 and a 200 day moving average of $48.87. The stock has a market cap of $54.18 billion, a PE ratio of 9.04, a PEG ratio of 1.18 and a beta of 1.36.

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, beating the consensus estimate of $2.52 by $0.01. The company had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The firm's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.06 EPS. On average, equities analysts expect that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.1%. General Motors's dividend payout ratio (DPR) is presently 9.52%.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 23,977 shares of General Motors stock in a transaction 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 sale, the executive vice president owned 8,513 shares of the company's stock, valued at approximately $451,274.13. This trade represents a 73.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.