Vestcor Inc Has $1.39 Million Stake in General Motors Company (NYSE:GM)

Key Points

• Vestcor Inc increased its stake in General Motors by 32.7%, acquiring an additional 7,265 shares for a total of 29,454 shares valued at $1,385,000.
• General Motors reported $2.53 earnings per share for the last quarter, exceeding analysts' expectations of $2.52 and showing a revenue of $47.12 billion, down 1.8% from the previous year.
• The company recently announced a quarterly dividend of $0.15 per share, with an annualized yield of 1.1% and a payout ratio of 9.52%.

Vestcor Inc grew its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 32.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,454 shares of the auto manufacturer's stock after purchasing an additional 7,265 shares during the quarter. Vestcor Inc's holdings in General Motors were worth $1,385,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Assenagon Asset Management S.A. grew 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 valued at $134,457,000 after purchasing an additional 2,154,037 shares during the last quarter. AustralianSuper Pty Ltd lifted its holdings in 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 buying an additional 1,712,033 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in General Motors in the 4th quarter valued at $60,198,000. Victory Capital Management Inc. increased its stake in shares of General Motors by 51.0% in the 1st quarter. Victory Capital Management Inc. now owns 3,148,956 shares of the auto manufacturer's stock valued at $148,095,000 after buying an additional 1,063,606 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of General Motors by 287.5% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 1,281,003 shares of the auto manufacturer's stock worth $60,246,000 after acquiring an additional 950,400 shares during the last quarter. Institutional investors own 92.67% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on GM shares. Benchmark started coverage on General Motors in a report on Monday, July 21st. They issued a "buy" rating and a $65.00 price target on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of General Motors in a research note on Thursday, July 24th. CLSA upgraded shares of General Motors to a "moderate buy" rating in a research report on Monday, July 7th. The Goldman Sachs Group restated a "buy" rating on shares of General Motors in a report on Friday, July 11th. Finally, Bank of America lowered their target price on shares of General Motors from $65.00 to $62.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $56.35.

General Motors Stock Down 1.5%

Shares of General Motors stock traded down $0.82 on Friday, hitting $52.52. The company had a trading volume of 9,539,407 shares, compared to its average volume of 10,532,127. The stock has a 50-day moving average of $50.55 and a 200-day moving average of $48.77. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. General Motors Company has a twelve month low of $38.96 and a twelve month high of $61.24. The firm has a market capitalization of $50.00 billion, a P/E ratio of 8.34, a P/E/G ratio of 1.11 and a beta of 1.36.

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 the consensus estimate of $2.52 by $0.01. The business had revenue of $47.12 billion for the quarter, compared to analysts' expectations of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The firm's revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.06 EPS. Research analysts predict that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

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

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.