United Capital Financial Advisers LLC Buys 36,973 Shares of General Motors Company (NYSE:GM)
United Capital Financial Advisers LLC increased its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 10.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 380,413 shares of the auto manufacturer’s stock after buying an additional 36,973 shares during the period. United Capital Financial Advisers LLC’s holdings in General Motors were worth $13,451,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Prudential Financial Inc. boosted its stake in General Motors by 129.2% in the first quarter. Prudential Financial Inc. now owns 6,068,335 shares of the auto manufacturer’s stock valued at $214,576,000 after buying an additional 3,420,200 shares during the last quarter. Vanguard Group Inc. boosted its stake in General Motors by 3.2% in the first quarter. Vanguard Group Inc. now owns 89,853,324 shares of the auto manufacturer’s stock valued at $3,177,214,000 after buying an additional 2,744,821 shares during the last quarter. Alliancebernstein L.P. boosted its stake in General Motors by 87.0% in the first quarter. Alliancebernstein L.P. now owns 5,174,420 shares of the auto manufacturer’s stock valued at $182,967,000 after buying an additional 2,407,818 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in General Motors by 259.9% in the first quarter. State of New Jersey Common Pension Fund D now owns 2,235,000 shares of the auto manufacturer’s stock valued at $79,030,000 after buying an additional 1,614,000 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in General Motors during the first quarter valued at about $54,293,000. 76.04% of the stock is currently owned by hedge funds and other institutional investors.
General Motors Company (NYSE:GM) traded up 1.44% during trading on Friday, hitting $35.27. 9,160,776 shares of the stock were exchanged. General Motors Company has a one year low of $29.91 and a one year high of $38.55. The company has a market cap of $51.40 billion, a price-to-earnings ratio of 6.13 and a beta of 1.45. The stock’s 50 day moving average is $35.21 and its 200-day moving average is $35.22.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The company had revenue of $36.98 billion during the quarter, compared to the consensus estimate of $37.67 billion. During the same period in the prior year, the company earned $1.86 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities research analysts expect that General Motors Company will post $6.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.31%. General Motors’s dividend payout ratio (DPR) is currently 26.48%.
Several research firms recently issued reports on GM. Zacks Investment Research raised shares of General Motors from a “sell” rating to a “hold” rating in a research note on Friday. Vetr lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $37.42 price objective for the company. in a research note on Monday, July 31st. BidaskClub lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. ValuEngine raised shares of General Motors from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 28th. Finally, Royal Bank Of Canada lifted their price target on shares of General Motors from $37.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company’s stock. General Motors presently has a consensus rating of “Buy” and a consensus target price of $39.38.
In other news, President Daniel Ammann sold 40,000 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $36.00, for a total transaction of $1,440,000.00. Following the completion of the transaction, the president now directly owns 235,953 shares of the company’s stock, valued at $8,494,308. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles K. Stevens III sold 16,000 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $35.80, for a total value of $572,800.00. Following the transaction, the insider now directly owns 77,052 shares of the company’s stock, valued at $2,758,461.60. The disclosure for this sale can be found here. Insiders sold 371,687 shares of company stock valued at $12,918,125 over the last 90 days. Corporate insiders own 0.04% of the company’s stock.
General Motors Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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