Public Employees Retirement Association of Colorado cut its position in shares of General Motors Co. (NYSE:GM) by 9.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 291,518 shares of the auto manufacturer’s stock after selling 29,621 shares during the period. Public Employees Retirement Association of Colorado’s holdings in General Motors were worth $8,250,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in GM. North Star Investment Management Corp. raised its stake in shares of General Motors by 809.5% in the second quarter. North Star Investment Management Corp. now owns 4,602 shares of the auto manufacturer’s stock valued at $130,000 after buying an additional 4,096 shares in the last quarter. Mariner Wealth Advisors LLC raised its stake in shares of General Motors by 0.3% in the first quarter. Mariner Wealth Advisors LLC now owns 6,550 shares of the auto manufacturer’s stock valued at $206,000 after buying an additional 20 shares in the last quarter. V Wealth Management LLC raised its stake in shares of General Motors by 4.7% in the second quarter. V Wealth Management LLC now owns 7,941 shares of the auto manufacturer’s stock valued at $225,000 after buying an additional 355 shares in the last quarter. Trust Co purchased a new stake in shares of General Motors during the first quarter valued at about $271,000. Finally, Quotient Investors LLC raised its stake in shares of General Motors by 46.3% in the second quarter. Quotient Investors LLC now owns 9,800 shares of the auto manufacturer’s stock valued at $277,000 after buying an additional 3,100 shares in the last quarter. Institutional investors own 70.40% of the company’s stock.
General Motors Co. (NYSE:GM) traded up 1.14% on Friday, hitting $31.87. 11,105,611 shares of the stock were exchanged. The company has a 50-day moving average price of $31.75 and a 200 day moving average price of $30.89. General Motors Co. has a 1-year low of $26.69 and a 1-year high of $36.88. The company has a market capitalization of $49.78 billion, a PE ratio of 4.08 and a beta of 1.65.
General Motors (NYSE:GM) last posted its quarterly earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.35. General Motors had a net margin of 7.90% and a return on equity of 23.96%. The company earned $42.40 billion during the quarter, compared to analyst estimates of $38.81 billion. During the same period in the prior year, the business posted $1.29 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. Analysts anticipate that General Motors Co. will post $5.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were issued a dividend of $0.38 per share. The ex-dividend date was Wednesday, September 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.77%. General Motors’s dividend payout ratio is currently 19.46%.
Several brokerages recently issued reports on GM. Royal Bank Of Canada increased their price objective on General Motors from $32.00 to $34.00 and gave the stock a “sector perform” rating in a report on Friday, July 22nd. Seaport Global Securities began coverage on General Motors in a report on Tuesday, August 9th. They set a “buy” rating and a $42.00 price objective for the company. Barclays PLC reiterated an “equal weight” rating and set a $36.00 price objective on shares of General Motors in a report on Thursday, August 11th. Citigroup Inc. reiterated a “buy” rating and set a $50.00 price objective on shares of General Motors in a report on Thursday, July 21st. Finally, Zacks Investment Research upgraded General Motors from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Wednesday, June 22nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the stock. General Motors has an average rating of “Hold” and a consensus price target of $36.67.
In related news, VP Thomas S. Timko sold 6,250 shares of the company’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $31.94, for a total transaction of $199,625.00. Following the completion of the sale, the vice president now directly owns 27,477 shares in the company, valued at approximately $877,615.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jane L. Mendillo purchased 1,600 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were purchased at an average price of $31.01 per share, with a total value of $49,616.00. Following the completion of the acquisition, the director now directly owns 1,600 shares in the company, valued at $49,616. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and GM Financial.