iA Global Asset Management Inc. Sells 44,499 Shares of General Motors Company (NYSE:GM)

Key Points

• iA Global Asset Management Inc. reduced its stake in General Motors by 50.9%, selling 44,499 shares during the first quarter, leaving it with 42,964 shares worth approximately $2,021,000.
• General Motors reported earnings of $2.53 EPS for the last quarter, exceeding analyst expectations and generating revenue of $47.12 billion, which is down 1.8% year-over-year.
• The company declared a quarterly dividend of $0.15 per share, yielding 1.1%, with a payout ratio currently at 9.52%.

iA Global Asset Management Inc. cut its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 50.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,964 shares of the auto manufacturer's stock after selling 44,499 shares during the quarter. iA Global Asset Management Inc.'s holdings in General Motors were worth $2,021,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Measured Risk Portfolios Inc. bought a new position in General Motors in the 4th quarter valued at approximately $27,000. Transce3nd LLC bought a new position in General Motors in the 4th quarter valued at approximately $34,000. Costello Asset Management INC bought a new position in General Motors in the 1st quarter valued at approximately $32,000. Ossiam bought a new position in General Motors in the 4th quarter valued at approximately $44,000. Finally, North Capital Inc. bought a new position in General Motors in the 1st quarter valued at approximately $40,000. 92.67% of the stock is owned by institutional investors.

General Motors Trading Down 0.1%

Shares of GM stock opened at $52.55 on Thursday. General Motors Company has a 52-week low of $40.52 and a 52-week high of $61.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. The firm has a market capitalization of $50.03 billion, a PE ratio of 8.34, a PEG ratio of 1.11 and a beta of 1.36. The stock has a fifty day simple moving average of $50.79 and a two-hundred day simple moving average of $48.83.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly 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. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The business had revenue of $47.12 billion during the quarter, compared to analyst estimates of $45.87 billion. During the same quarter in the prior year, the business posted $3.06 EPS. General Motors's revenue for the quarter was down 1.8% compared to the same quarter last year. On average, analysts predict that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

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

Analyst Ratings Changes

GM has been the topic of several analyst reports. Citigroup upped their price objective on General Motors from $59.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Barclays increased their price target on General Motors from $45.00 to $55.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Mizuho increased their price target on General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, May 16th. UBS Group increased their price target on General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. increased their price target on General Motors from $56.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $57.53.

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.

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