Sei Investments Co. Purchases 86,029 Shares of General Motors (NYSE:GM)

Sei Investments Co. increased its position in General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 8.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,134,988 shares of the auto manufacturer’s stock after purchasing an additional 86,029 shares during the quarter. Sei Investments Co.’s holdings in General Motors were worth $37,421,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp lifted its stake in shares of General Motors by 3.1% during the 2nd quarter. State Street Corp now owns 58,732,016 shares of the auto manufacturer’s stock worth $2,264,707,000 after buying an additional 1,750,984 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of General Motors by 1.6% in the second quarter. Geode Capital Management LLC now owns 25,308,907 shares of the auto manufacturer’s stock valued at $972,995,000 after acquiring an additional 389,894 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in shares of General Motors by 0.8% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 16,498,636 shares of the auto manufacturer’s stock valued at $636,187,000 after acquiring an additional 134,360 shares during the period. Morgan Stanley boosted its position in shares of General Motors by 6.5% in the fourth quarter. Morgan Stanley now owns 15,011,042 shares of the auto manufacturer’s stock valued at $504,972,000 after acquiring an additional 921,435 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of General Motors by 80.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,687,738 shares of the auto manufacturer’s stock valued at $538,747,000 after acquiring an additional 6,548,022 shares during the period. 79.62% of the stock is owned by institutional investors.

General Motors Stock Down 2.0 %

Shares of NYSE:GM opened at $39.34 on Friday. The business’s 50 day moving average is $37.64 and its 200 day moving average is $33.70. The stock has a market cap of $45.42 billion, a price-to-earnings ratio of 5.38, a PEG ratio of 0.49 and a beta of 1.50. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 1.21. General Motors has a 12-month low of $26.30 and a 12-month high of $41.80.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.08. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The business had revenue of $42.98 billion for the quarter, compared to analysts’ expectations of $38.81 billion. During the same quarter in the previous year, the firm earned $2.12 earnings per share. The business’s revenue was down .3% on a year-over-year basis. On average, sell-side analysts forecast that General Motors will post 9 earnings per share for the current fiscal year.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Friday, March 1st will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, February 29th. This is a positive change from General Motors’s previous quarterly dividend of $0.09. General Motors’s dividend payout ratio (DPR) is currently 6.57%.

Analyst Ratings Changes

GM has been the topic of several analyst reports. Royal Bank of Canada increased their target price on General Motors from $52.00 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Barclays boosted their price target on General Motors from $37.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. HSBC began coverage on General Motors in a report on Monday, December 4th. They set a “buy” rating and a $41.30 price target for the company. Mizuho upgraded General Motors from a “neutral” rating to a “buy” rating and increased their price target for the company from $38.00 to $42.00 in a research note on Monday, December 4th. Finally, Wolfe Research upgraded General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.66.

Get Our Latest Stock Analysis on GM

Insider Transactions at General Motors

In other news, EVP Gerald Johnson sold 15,190 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.03, for a total value of $608,055.70. Following the completion of the transaction, the executive vice president now directly owns 98,628 shares in the company, valued at $3,948,078.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Gerald Johnson sold 15,190 shares of General Motors stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $40.03, for a total transaction of $608,055.70. Following the completion of the sale, the executive vice president now owns 98,628 shares in the company, valued at approximately $3,948,078.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the transaction, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The disclosure for this sale can be found here. Insiders sold 44,526 shares of company stock worth $1,757,472 over the last quarter. Corporate insiders own 0.54% of the company’s stock.

About General Motors

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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