General Motors Company $GM Shares Sold by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its holdings in General Motors by 28.8%, selling 238,183 shares to own a total of 590,001 shares valued at approximately $27.7 million.
• CEO Mary T. Barra sold 87,839 shares of GM, resulting in a total transaction value of over $5.1 million, while corporate insiders collectively sold over 1 million shares in the past three months.
• General Motors recently announced a $0.15 quarterly dividend, with a dividend yield of approximately 1.0%, as part of its strategy to return value to shareholders.

The Manufacturers Life Insurance Company decreased its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 28.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 590,001 shares of the auto manufacturer's stock after selling 238,183 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of General Motors worth $27,748,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Measured Risk Portfolios Inc. purchased a new stake in shares of General Motors in the 4th quarter worth $27,000. Costello Asset Management INC purchased a new stake in General Motors in the first quarter worth about $32,000. WPG Advisers LLC bought a new position in General Motors during the 1st quarter worth about $34,000. North Capital Inc. bought a new position in General Motors during the 1st quarter worth about $40,000. Finally, SouthState Corp increased its position in General Motors by 914.4% during the 1st quarter. SouthState Corp now owns 984 shares of the auto manufacturer's stock valued at $46,000 after purchasing an additional 887 shares during the period. Institutional investors own 92.67% of the company's stock.

General Motors Stock Performance

NYSE GM traded up $0.09 on Friday, hitting $58.24. 7,376,091 shares of the company's stock traded hands, compared to its average volume of 11,467,069. The firm's 50-day moving average price is $54.29 and its two-hundred day moving average price is $49.86. The firm has a market capitalization of $55.45 billion, a PE ratio of 9.25, a P/E/G ratio of 1.22 and a beta of 1.32. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. General Motors Company has a 1-year low of $41.60 and a 1-year high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its 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 during the quarter, compared to analysts' expectations of $45.87 billion. During the same quarter last year, the company posted $3.06 earnings per share. The firm's revenue was down 1.8% compared to the same quarter last year. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. As a group, analysts expect that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors 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 yield of 1.0%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's dividend payout ratio (DPR) is 9.52%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GM shares. Bank of America cut their price target on General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. CLSA upgraded General Motors to a "moderate buy" rating in a report on Monday, July 7th. Barclays raised 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. Industrial Alliance Securities set a $70.00 target price on General Motors in a research report on Friday, July 11th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of General Motors in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, General Motors presently has a consensus rating of "Hold" and an average target price of $58.05.

Insider Activity at General Motors

In related news, 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 completion of the transaction, the chief accounting officer owned 12,007 shares of the company's stock, valued at approximately $661,585.70. This represents a 75.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 23,977 shares of General Motors stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the completion of the sale, the executive vice president directly owned 8,513 shares in the company, valued at $451,274.13. This represents a 73.80% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,070,311 shares of company stock worth $62,095,433. 0.54% of the stock is owned by corporate insiders.

About General Motors

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.