Skandinaviska Enskilda Banken AB publ Has $60.25 Million Stake in General Motors Company (NYSE:GM)

Key Points

• Skandinaviska Enskilda Banken AB publ significantly increased its stake in General Motors by 287.5% during the first quarter, now owning approximately $60 million worth of shares.
• Multiple hedge funds are adjusting their positions in General Motors, with 92.67% of the company's stock now held by institutional investors, indicating strong institutional interest.
• General Motors recently reported earnings that surpassed estimates, with a net revenue of $47.12 billion and a quarterly dividend of $0.15 per share scheduled for payout in September.

Skandinaviska Enskilda Banken AB publ raised its position in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 287.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,281,003 shares of the auto manufacturer's stock after purchasing an additional 950,400 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.13% of General Motors worth $60,246,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GM. Brighton Jones LLC raised its stake in shares of General Motors by 456.1% during the 4th quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock worth $2,062,000 after purchasing an additional 31,755 shares in the last quarter. LPL Financial LLC increased its holdings in shares of General Motors by 8.5% during the 4th quarter. LPL Financial LLC now owns 640,491 shares of the auto manufacturer's stock valued at $34,119,000 after acquiring an additional 50,031 shares during the last quarter. TIAA Trust National Association increased its holdings in shares of General Motors by 25.4% during the 4th quarter. TIAA Trust National Association now owns 8,008 shares of the auto manufacturer's stock valued at $427,000 after acquiring an additional 1,624 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of General Motors by 1.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 18,742 shares of the auto manufacturer's stock valued at $998,000 after acquiring an additional 290 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of General Motors during the 4th quarter valued at about $46,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Trading Up 0.1%

Shares of General Motors stock traded up $0.04 during trading on Monday, reaching $53.44. 6,949,517 shares of the company were exchanged, compared to its average volume of 12,352,908. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. General Motors Company has a twelve month low of $38.96 and a twelve month high of $61.24. The business has a 50-day moving average price of $50.23 and a 200-day moving average price of $48.70. The firm has a market capitalization of $50.88 billion, a price-to-earnings ratio of 8.48, a P/E/G ratio of 1.13 and a beta of 1.32.

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 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 analysts' expectations of $45.87 billion. During the same period in the previous year, the firm earned $3.06 earnings per share. The firm's quarterly revenue was down 1.8% compared to the same quarter last year. Sell-side analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

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. The ex-dividend date is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 1.12%. General Motors's payout ratio is 9.52%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective on the stock. in a report on Monday, April 14th. Benchmark started coverage on General Motors in a report on Monday, July 21st. They issued a "buy" rating and a $65.00 target price on the stock. The Goldman Sachs Group reaffirmed a "buy" rating on shares of General Motors in a report on Friday, July 11th. Piper Sandler reissued a "neutral" rating and set a $48.00 price objective (up previously from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Finally, Wells Fargo & Company lifted their price objective on General Motors from $34.00 to $38.00 and gave the stock an "underweight" rating in a report on Wednesday, July 23rd. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, General Motors currently has a consensus rating of "Hold" and a consensus price target of $56.35.

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.