Victory Capital Management Inc. Lowers Stock Holdings in General Motors (NYSE:GM)

Victory Capital Management Inc. trimmed its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 14.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 649,037 shares of the auto manufacturer’s stock after selling 109,485 shares during the period. Victory Capital Management Inc.’s holdings in General Motors were worth $23,313,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GM. Acadian Asset Management LLC increased its holdings in shares of General Motors by 454.3% during the 3rd quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock worth $171,961,000 after buying an additional 4,275,293 shares during the last quarter. AQR Capital Management LLC grew its position in General Motors by 32.6% during the third quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock valued at $274,531,000 after acquiring an additional 2,049,412 shares during the period. Vanguard Group Inc. increased its stake in General Motors by 1.4% during the third quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after acquiring an additional 1,580,681 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in shares of General Motors by 518.4% in the 3rd quarter. EP Wealth Advisors LLC now owns 1,274,574 shares of the auto manufacturer’s stock worth $42,023,000 after purchasing an additional 1,068,474 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in shares of General Motors by 175.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,615,483 shares of the auto manufacturer’s stock valued at $53,262,000 after purchasing an additional 1,028,508 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on GM shares. TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a report on Tuesday, March 19th. Morgan Stanley increased their price target on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. StockNews.com upgraded General Motors from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Royal Bank of Canada increased their target price on General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. Finally, UBS Group raised their target price on General Motors from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, General Motors currently has an average rating of “Moderate Buy” and an average price target of $54.65.

Insider Buying and Selling at General Motors

In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the transaction, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at approximately $540,315. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the sale, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the transaction, the chief accounting officer now owns 12,007 shares in the company, valued at $540,315. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock worth $3,614,078 over the last quarter. 0.72% of the stock is owned by corporate insiders.

General Motors Stock Performance

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

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

General Motors Announces Dividend

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 paid a $0.12 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.07%. General Motors’s dividend payout ratio (DPR) is 5.87%.

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.