iA Global Asset Management Inc. Has $2.02 Million Stake in 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. lessened its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 50.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 reporting period.

A number of other large investors have also recently bought and sold shares of GM. Brighton Jones LLC grew its holdings in General Motors by 456.1% during the 4th quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock valued at $2,062,000 after buying an additional 31,755 shares during the last quarter. World Investment Advisors grew its holdings in General Motors by 42.8% during the 4th quarter. World Investment Advisors now owns 7,560 shares of the auto manufacturer's stock valued at $403,000 after buying an additional 2,266 shares during the last quarter. Bank of Nova Scotia grew its holdings in General Motors by 411.5% during the 4th quarter. Bank of Nova Scotia now owns 916,177 shares of the auto manufacturer's stock valued at $48,806,000 after buying an additional 737,052 shares during the last quarter. Advisory Services Network LLC grew its holdings in General Motors by 6.6% during the 4th quarter. Advisory Services Network LLC now owns 45,258 shares of the auto manufacturer's stock valued at $2,411,000 after buying an additional 2,796 shares during the last quarter. Finally, Azimuth Capital Investment Management LLC acquired a new stake in General Motors during the 4th quarter valued at $211,000. Institutional investors and hedge funds own 92.67% of the company's stock.

Insider Activity at General Motors

In other news, EVP Rory Harvey sold 23,977 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total value of $1,271,020.77. Following the transaction, the executive vice president directly owned 8,513 shares of the company's stock, valued at approximately $451,274.13. This represents a 73.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is currently owned by corporate insiders.

General Motors Price Performance

NYSE:GM traded up $0.26 during midday trading on Monday, hitting $53.79. 1,804,360 shares of the stock were exchanged, compared to its average volume of 12,010,389. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $51.21 billion, a price-to-earnings ratio of 8.54, a P/E/G ratio of 1.13 and a beta of 1.36. General Motors Company has a one year low of $41.60 and a one year high of $61.24. The business has a 50-day moving average price of $50.95 and a two-hundred day moving average price of $48.78.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The firm had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. During the same quarter in the previous year, the business posted $3.06 earnings per share. The firm's quarterly revenue was down 1.8% compared to the same quarter last year. Sell-side analysts predict that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GM shares. Barclays increased their price target on General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Mizuho increased their target price on General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Piper Sandler reissued a "neutral" rating and issued a $48.00 price objective (up from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. BNP Paribas raised General Motors to a "strong-buy" rating in a research report on Monday, May 5th. Finally, Bank of America lowered their target price on General Motors from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, General Motors presently has a consensus rating of "Hold" and an average price target of $57.53.

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.