BI Asset Management Fondsmaeglerselskab A S Cuts Holdings in General Motors (NYSE:GM)

BI Asset Management Fondsmaeglerselskab A S decreased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 49.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 78,462 shares of the auto manufacturer’s stock after selling 76,658 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in General Motors were worth $3,558,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GM. Unison Advisors LLC increased its stake in shares of General Motors by 0.4% during the first quarter. Unison Advisors LLC now owns 67,196 shares of the auto manufacturer’s stock worth $3,047,000 after purchasing an additional 246 shares in the last quarter. Janiczek Wealth Management LLC increased its stake in shares of General Motors by 5.2% during the first quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer’s stock worth $230,000 after purchasing an additional 248 shares in the last quarter. SkyOak Wealth LLC increased its stake in shares of General Motors by 3.0% during the first quarter. SkyOak Wealth LLC now owns 8,727 shares of the auto manufacturer’s stock worth $396,000 after purchasing an additional 252 shares in the last quarter. Turtle Creek Wealth Advisors LLC increased its stake in shares of General Motors by 2.2% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 12,013 shares of the auto manufacturer’s stock worth $545,000 after purchasing an additional 258 shares in the last quarter. Finally, Heritage Investors Management Corp increased its stake in shares of General Motors by 0.6% during the first quarter. Heritage Investors Management Corp now owns 47,672 shares of the auto manufacturer’s stock worth $2,162,000 after purchasing an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling

In related news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the sale, the president now directly owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the sale, the chief executive officer now directly owns 1,198,648 shares in the company, valued at approximately $52,093,242.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the sale, the president now owns 176,907 shares in the company, valued at $7,684,840.08. The disclosure for this sale can be found here. Insiders have sold a total of 1,152,621 shares of company stock valued at $51,818,111 in the last ninety days. Company insiders own 0.72% of the company’s stock.

General Motors Trading Up 0.9 %

Shares of GM stock traded up $0.41 during trading hours on Wednesday, hitting $46.67. The company had a trading volume of 1,402,973 shares, compared to its average volume of 15,786,994. The company’s fifty day moving average is $45.82 and its 200 day moving average is $41.98. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $49.35. The stock has a market capitalization of $53.25 billion, a PE ratio of 5.68, a price-to-earnings-growth ratio of 0.49 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping the consensus estimate of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. During the same period in the prior year, the business posted $2.21 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Research analysts expect that General Motors will post 9.43 earnings per share for the current fiscal year.

General Motors announced that its Board of Directors has approved a stock buyback program on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to purchase up to 10.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, June 7th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Friday, June 7th. General Motors’s payout ratio is currently 5.87%.

Analysts Set New Price Targets

GM has been the topic of a number of recent research reports. Barclays boosted their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Bank of America restated a “buy” rating and set a $75.00 price target on shares of General Motors in a research report on Wednesday, June 12th. Wedbush boosted their price target on shares of General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Citigroup boosted their price target on shares of General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.96.

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.