Victory Capital Management Inc. Decreases Stock Position in General Motors (NYSE:GM)

Victory Capital Management Inc. trimmed its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 14.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 649,037 shares of the auto manufacturer's stock after selling 109,485 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of General Motors worth $23,313,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. SouthState Corp raised its position in General Motors by 173.8% during the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer's stock valued at $25,000 after acquiring an additional 485 shares in the last quarter. Highlander Capital Management LLC purchased a new position in General Motors during the fourth quarter valued at approximately $27,000. Bfsg LLC purchased a new position in General Motors during the fourth quarter valued at approximately $35,000. Tennessee Valley Asset Management Partners purchased a new position in General Motors during the fourth quarter valued at approximately $36,000. Finally, Venturi Wealth Management LLC raised its position in General Motors by 74.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,229 shares of the auto manufacturer's stock valued at $44,000 after acquiring an additional 525 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Julian G. Blissett sold 13,826 shares of the company's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares of the company's stock, valued at approximately $3,348,562.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Julian G. Blissett sold 13,826 shares of the company's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares of the company's stock, valued at approximately $3,348,562.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the transaction, the chief accounting officer now directly owns 21,507 shares in the company, valued at approximately $860,710.14. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock valued at $3,614,078 in the last quarter. Insiders own 0.72% of the company's stock.

General Motors Trading Up 0.7 %

NYSE:GM traded up $0.31 during trading hours on Thursday, hitting $45.36. The company had a trading volume of 9,346,970 shares, compared to its average volume of 16,824,982. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. The company has a 50-day moving average of $43.14 and a 200 day moving average of $37.16. The company has a market cap of $51.75 billion, a P/E ratio of 5.55, a P/E/G ratio of 0.53 and a beta of 1.49. General Motors has a 1 year low of $26.30 and a 1 year high of $46.17.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion during the quarter, compared to analysts' expectations of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.21 EPS. Sell-side analysts expect that General Motors will post 9.44 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, June 7th. General Motors's dividend payout ratio (DPR) is presently 5.87%.

Analysts Set New Price Targets

A number of research firms have recently commented on GM. UBS Group boosted their price objective on General Motors from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Wednesday, April 24th. Barclays boosted their price objective on General Motors from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Friday, April 26th. Tigress Financial boosted their price objective on General Motors from $86.00 to $88.00 and gave the company a "strong-buy" rating in a research report on Thursday, February 15th. Morgan Stanley boosted their price objective on General Motors from $43.00 to $46.00 and gave the company an "overweight" rating in a research report on Wednesday, April 10th. Finally, Citigroup boosted their price objective on General Motors from $95.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $54.65.

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.