Merit Financial Group LLC Sells 3,390 Shares of General Motors (NYSE:GM)

Merit Financial Group LLC cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 29.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,007 shares of the auto manufacturer’s stock after selling 3,390 shares during the quarter. Merit Financial Group LLC’s holdings in General Motors were worth $288,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GM. Benjamin F. Edwards & Company Inc. lifted its position in shares of General Motors by 804.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 5,834 shares of the auto manufacturer’s stock valued at $209,000 after buying an additional 5,189 shares during the last quarter. Summit Global Investments lifted its position in General Motors by 10.2% during the fourth quarter. Summit Global Investments now owns 12,020 shares of the auto manufacturer’s stock valued at $432,000 after acquiring an additional 1,109 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in General Motors by 1,232.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 96,077 shares of the auto manufacturer’s stock valued at $3,451,000 after acquiring an additional 88,868 shares in the last quarter. Natixis Advisors L.P. grew its holdings in General Motors by 14.8% in the fourth quarter. Natixis Advisors L.P. now owns 1,273,773 shares of the auto manufacturer’s stock worth $45,753,000 after purchasing an additional 164,318 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of General Motors by 0.5% during the fourth quarter. Fisher Asset Management LLC now owns 6,497,100 shares of the auto manufacturer’s stock worth $233,376,000 after purchasing an additional 30,641 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Insider Buying and Selling at General Motors

In related news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Gerald Johnson sold 15,190 shares of General Motors stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.03, for a total value of $608,055.70. Following the sale, the executive vice president now owns 98,628 shares in the company, valued at $3,948,078.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the sale, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,248 shares of company stock valued at $3,614,078. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Performance

Shares of GM stock opened at $45.06 on Thursday. General Motors has a 52-week low of $26.30 and a 52-week high of $46.17. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The stock has a market cap of $51.41 billion, a PE ratio of 5.51, a price-to-earnings-growth ratio of 0.53 and a beta of 1.49. The business has a 50-day simple moving average of $43.05 and a 200-day simple moving average of $37.11.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The company had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. General Motors’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.21 earnings per share. On average, equities analysts expect that General Motors will post 9.44 EPS for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.07%. General Motors’s dividend payout ratio is presently 5.87%.

Analyst Ratings Changes

A number of research firms have recently weighed in on GM. Redburn Atlantic assumed coverage on General Motors in a research report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 price objective for the company. Piper Sandler boosted their price target on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Citigroup increased their price objective on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft boosted their target price 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. Finally, Wells Fargo & Company upped their price target on shares of General Motors from $28.00 to $30.00 and gave the company an “underweight” rating in a research note 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors has a consensus rating of “Moderate Buy” and an average target price of $54.65.

General Motors 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.