Voya Investment Management LLC Has $24.45 Million Stake in General Motors Company $GM

Key Points

• Voya Investment Management LLC has increased its stake in General Motors by 2.3%, acquiring an additional 11,664 shares, bringing its total ownership to approximately $24.4 million.
• Several institutional investors have significantly boosted their positions in GM recently, with Brighton Jones LLC increasing its stake by 456.1% during the last quarter.
• General Motors recently announced a quarterly dividend of $0.15 per share, which equates to an annualized dividend yield of 1.0% for shareholders of record.

Voya Investment Management LLC grew its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 519,808 shares of the auto manufacturer's stock after purchasing an additional 11,664 shares during the period. Voya Investment Management LLC owned approximately 0.05% of General Motors worth $24,447,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GM. AQR Capital Management LLC increased its stake in shares of General Motors by 146.8% during the first quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer's stock valued at $629,196,000 after acquiring an additional 8,012,743 shares during the period. Vanguard Group Inc. lifted its position in shares of General Motors by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock valued at $4,672,023,000 after acquiring an additional 6,395,375 shares in the last quarter. Nuveen LLC purchased a new stake in shares of General Motors in the 1st quarter valued at approximately $175,889,000. Assenagon Asset Management S.A. lifted its position in shares of General Motors by 305.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock valued at $134,457,000 after acquiring an additional 2,154,037 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in General Motors by 17.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 12,822,632 shares of the auto manufacturer's stock worth $603,048,000 after buying an additional 1,910,186 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 23,977 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president directly owned 8,513 shares of the company's stock, valued at approximately $451,274.13. This trade represents a 73.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mary T. Barra sold 907,024 shares of General Motors stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $58.24, for a total transaction of $52,825,077.76. Following the transaction, the chief executive officer directly owned 552,238 shares of the company's stock, valued at $32,162,341.12. This represents a 62.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,104,256 shares of company stock valued at $64,129,551. Company insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GM. Piper Sandler reiterated a "neutral" rating and issued a $48.00 target price (up previously from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Wedbush increased their target price on shares of General Motors from $55.00 to $65.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. UBS Group increased their target price on shares of General Motors from $50.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. increased their target price on shares of General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Finally, Wells Fargo & Company increased their target price on shares of General Motors from $34.00 to $38.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.00.

General Motors Stock Performance

NYSE:GM traded down $0.47 during midday trading on Tuesday, reaching $58.48. The stock had a trading volume of 6,786,452 shares, compared to its average volume of 6,371,274. General Motors Company has a 1-year low of $41.60 and a 1-year high of $61.24. The firm's fifty day simple moving average is $55.35 and its 200-day simple moving average is $50.47. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. The stock has a market capitalization of $55.68 billion, a P/E ratio of 9.28, a PEG ratio of 1.24 and a beta of 1.32.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results 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 business had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. General Motors's revenue was down 1.8% compared to the same quarter last year. During the same period last year, the business posted $3.06 EPS. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. On average, equities research analysts forecast that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, September 5th. 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.