ZWJ Investment Counsel Inc. Raises Position in General Motors (NYSE:GM)

ZWJ Investment Counsel Inc. increased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 388,617 shares of the auto manufacturer’s stock after purchasing an additional 7,980 shares during the period. ZWJ Investment Counsel Inc.’s holdings in General Motors were worth $17,426,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Wealth Management LLC raised its position in shares of General Motors by 13.8% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 8,001 shares of the auto manufacturer’s stock valued at $359,000 after purchasing an additional 971 shares during the period. Sumitomo Life Insurance Co. increased its holdings in General Motors by 3.0% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 22,091 shares of the auto manufacturer’s stock valued at $991,000 after acquiring an additional 653 shares during the last quarter. Nexus Investment Management ULC increased its holdings in General Motors by 0.8% in the 3rd quarter. Nexus Investment Management ULC now owns 605,352 shares of the auto manufacturer’s stock valued at $27,144,000 after acquiring an additional 4,685 shares during the last quarter. Opal Wealth Advisors LLC increased its holdings in General Motors by 9.8% in the 3rd quarter. Opal Wealth Advisors LLC now owns 5,057 shares of the auto manufacturer’s stock valued at $227,000 after acquiring an additional 453 shares during the last quarter. Finally, Occidental Asset Management LLC bought a new stake in General Motors in the 3rd quarter valued at $1,239,000. 92.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Motors

In related news, CFO Paul A. Jacobson purchased 25,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were acquired at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the purchase, the chief financial officer now owns 261,872 shares of the company’s stock, valued at $11,551,173.92. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. This represents a 0.00 % 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, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GM shares. Wolfe Research started coverage on shares of General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $54.00 price objective on shares of General Motors in a research note on Wednesday, October 9th. UBS Group lifted their price target on shares of General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Sanford C. Bernstein cut shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price target for the company. in a research note on Monday, September 23rd. Four investment analysts have rated the stock with a sell rating, seven have issued 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, General Motors has a consensus rating of “Hold” and an average price target of $55.35.

General Motors Trading Up 2.4 %

NYSE GM opened at $49.00 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The firm has a market cap of $55.90 billion, a PE ratio of 5.99, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. The company has a 50 day moving average price of $46.76 and a 200 day moving average price of $45.87. General Motors has a 52 week low of $26.30 and a 52 week high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. During the same quarter in the prior year, the business posted $1.91 EPS. General Motors’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.98%. General Motors’s payout ratio is 5.87%.

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.