Prudential PLC Has $894,000 Holdings in General Motors Company (NYSE:GM)

Key Points

• Prudential PLC has reduced its holdings in General Motors Company by 70.5%, now owning 19,019 shares valued at approximately $894,000.
• General Motors reported a quarterly earnings per share of $2.53, slightly beating analysts' estimates, despite a 1.8% decline in year-over-year revenue.
• The company recently announced a quarterly dividend of $0.15 per share, representing an annual yield of 1.1%.

Prudential PLC lessened its position in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 70.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,019 shares of the auto manufacturer's stock after selling 45,549 shares during the quarter. Prudential PLC's holdings in General Motors were worth $894,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in General Motors by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock valued at $4,672,023,000 after buying an additional 6,395,375 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in General Motors by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer's stock valued at $749,382,000 after buying an additional 228,408 shares in the last quarter. Invesco Ltd. boosted its stake in General Motors by 4.5% in the 1st quarter. Invesco Ltd. now owns 13,746,152 shares of the auto manufacturer's stock valued at $646,482,000 after buying an additional 594,217 shares in the last quarter. Northern Trust Corp raised its position in General Motors by 8.1% in the 4th quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock valued at $582,251,000 after purchasing an additional 822,454 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in General Motors by 12.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,447,099 shares of the auto manufacturer's stock valued at $444,297,000 after purchasing an additional 1,020,386 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

General Motors Stock Down 0.2%

Shares of General Motors stock opened at $56.31 on Friday. General Motors Company has a 12 month low of $41.60 and a 12 month high of $61.24. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. The stock has a market cap of $53.61 billion, a PE ratio of 8.94, a price-to-earnings-growth ratio of 1.19 and a beta of 1.36. The business has a fifty day simple moving average of $51.70 and a 200 day simple moving average of $48.92.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $47.12 billion during the quarter, compared to analysts' expectations of $45.87 billion. During the same period in the previous year, the firm earned $3.06 earnings per share. The company's revenue was down 1.8% on a year-over-year basis. Research analysts predict that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

The firm also recently announced 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 of this dividend is Friday, September 5th. General Motors's payout ratio is presently 9.52%.

Analysts Set New Price Targets

GM has been the subject of several research analyst reports. Barclays lifted their price objective on General Motors from $45.00 to $55.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Piper Sandler reiterated a "neutral" rating and issued a $48.00 price objective (up previously from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Wedbush reiterated an "outperform" rating and issued a $55.00 price objective on shares of General Motors in a research report on Wednesday, July 23rd. BNP Paribas upgraded General Motors to a "strong-buy" rating in a research report on Monday, May 5th. Finally, Benchmark began coverage on General Motors in a research report on Monday, July 21st. They set a "buy" rating and a $65.00 target price for the company. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $57.53.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 23,977 shares of the company's stock in a transaction dated 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 transaction, the executive vice president directly owned 8,513 shares of the company's stock, valued at $451,274.13. This represents a 73.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Christopher Hatto sold 36,804 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $55.10, for a total value of $2,027,900.40. Following the transaction, the chief accounting officer directly owned 12,007 shares of the company's stock, valued at $661,585.70. This represents a 75.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

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.

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