Sei Investments Co. Acquires 76,079 Shares of General Motors Company $GM

Key Points

• Sei Investments Co. increased its stake in General Motors by 6.8%, acquiring an additional 76,079 shares, bringing their total holdings to approximately 1,188,589 shares worth $57,742,000.
• Analysts have recently adjusted their price targets for General Motors, with Mizuho raising it to $58.00 and UBS Group increasing their target to $56.00, reflecting an overall positive outlook.
• General Motors declared a quarterly dividend of $0.15 per share, set to be paid on September 18th, resulting in an annualized dividend yield of 1.1%.

Sei Investments Co. increased its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 6.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,188,589 shares of the auto manufacturer's stock after purchasing an additional 76,079 shares during the period. Sei Investments Co. owned 0.12% of General Motors worth $57,742,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 6,395,375 shares during the period. Nuveen LLC acquired a new position in General Motors in the first quarter worth approximately $175,889,000. Assenagon Asset Management S.A. increased its holdings in shares of General Motors by 305.6% in the first quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock valued at $134,457,000 after buying 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 1st quarter valued at $86,900,000. Finally, AustralianSuper Pty Ltd boosted its stake in shares of General Motors by 38.9% during the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock worth $287,428,000 after acquiring an additional 1,712,033 shares in the last quarter. Institutional investors own 92.67% of the company's stock.

Insider Buying and Selling

In other General Motors news, CAO Christopher Hatto sold 36,804 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were 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 in the company, valued at $661,585.70. The trade was a 75.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rory Harvey sold 23,977 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president owned 8,513 shares of the company's stock, valued at approximately $451,274.13. The trade was a 73.80% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GM has been the topic of several analyst reports. Royal Bank Of Canada reissued an "outperform" rating on shares of General Motors in a research report on Thursday, July 24th. BNP Paribas raised General Motors to a "strong-buy" rating in a research note on Monday, May 5th. The Goldman Sachs Group reiterated a "buy" rating on shares of General Motors in a research note on Friday, July 11th. Bank of America lowered their target price on General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Finally, CLSA raised General Motors to a "moderate buy" rating in a research note on Monday, July 7th. Two 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 company. Based on data from MarketBeat, General Motors currently has an average rating of "Hold" and an average price target of $57.53.

General Motors Trading Down 0.1%

General Motors stock traded down $0.05 during trading hours on Monday, hitting $56.26. The stock had a trading volume of 6,738,195 shares, compared to its average volume of 11,867,537. General Motors Company has a one year low of $41.60 and a one year 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 $53.56 billion, a price-to-earnings ratio of 8.93, a P/E/G ratio of 1.19 and a beta of 1.36. The business's 50 day simple moving average is $51.70 and its 200-day simple moving average is $48.91.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data 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. The company had revenue of $47.12 billion for 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 was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.06 EPS. On average, equities analysts predict that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The company 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's dividend payout ratio is presently 9.52%.

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.