General Motors Company (NYSE:GM) Shares Acquired by Skandinaviska Enskilda Banken AB publ

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

Several other large investors have also modified their holdings of GM. Norges Bank purchased a new stake in shares of General Motors during the fourth quarter worth approximately $592,321,000. Assenagon Asset Management S.A. raised its stake in shares of General Motors by 305.6% during the first quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock worth $134,457,000 after purchasing an additional 2,154,037 shares during the last quarter. AustralianSuper Pty Ltd raised its stake in shares of General Motors by 38.9% during the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock worth $287,428,000 after purchasing an additional 1,712,033 shares during the last quarter. National Bank of Canada FI raised its stake in shares of General Motors by 54.4% during the fourth quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer's stock worth $178,593,000 after purchasing an additional 1,180,936 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of General Motors by 4.2% during the fourth quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer's stock worth $1,559,380,000 after purchasing an additional 1,170,816 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Price Performance

Shares of GM traded down $1.00 during trading hours on Tuesday, reaching $52.45. 3,765,999 shares of the company traded hands, compared to its average volume of 12,291,317. 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 capitalization of $49.94 billion, a PE ratio of 8.33, a price-to-earnings-growth ratio of 1.13 and a beta of 1.32. General Motors Company has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The stock has a fifty day simple moving average of $50.30 and a 200 day simple moving average of $48.73.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 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 business had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. During the same quarter last year, the company earned $3.06 earnings per share. The business's revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, research analysts predict that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

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 1.14%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's payout ratio is 9.52%.

Analyst Ratings Changes

GM has been the subject of several research analyst reports. Citigroup increased their price objective on General Motors from $59.00 to $61.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Barclays increased their price objective on General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft cut General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective for the company. in a research report on Monday, April 14th. CLSA upgraded General Motors to a "moderate buy" rating in a research report on Monday, July 7th. Finally, Sanford C. Bernstein set a $36.00 price objective on General Motors in a research report on Monday, May 5th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, General Motors presently has an average rating of "Hold" and a consensus price target of $56.35.

General Motors 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.