USA Financial Formulas Sells 17,635 Shares of General Motors (NYSE:GM)

USA Financial Formulas reduced its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 61.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,121 shares of the auto manufacturer’s stock after selling 17,635 shares during the period. USA Financial Formulas’ holdings in General Motors were worth $592,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Caisse DE Depot ET Placement DU Quebec grew its stake in General Motors by 972.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock worth $94,300,000 after purchasing an additional 1,906,964 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of General Motors by 123.1% in the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after acquiring an additional 1,779,897 shares in the last quarter. Artemis Investment Management LLP lifted its stake in General Motors by 581.4% in the third quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock worth $71,827,000 after acquiring an additional 1,366,768 shares during the period. National Bank of Canada FI increased its position in General Motors by 158.8% during the 3rd quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock valued at $97,374,000 after purchasing an additional 1,332,450 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in shares of General Motors by 6.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after purchasing an additional 989,750 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,030,475 shares of company stock worth $56,509,286 over the last three months. 0.72% of the stock is currently owned by corporate insiders.

General Motors Price Performance

Shares of NYSE GM opened at $51.65 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The stock has a market capitalization of $56.79 billion, a price-to-earnings ratio of 5.51, a PEG ratio of 0.36 and a beta of 1.42. The firm’s 50 day simple moving average is $53.83 and its 200-day simple moving average is $49.56. General Motors has a 12 month low of $34.32 and a 12 month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same quarter last year, the business earned $2.28 earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. Analysts expect that General Motors will post 10.34 EPS for the current year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, December 6th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.93%. The ex-dividend date was Friday, December 6th. General Motors’s payout ratio is currently 5.12%.

Analysts Set New Price Targets

A number of analysts have weighed in on GM shares. Wells Fargo & Company lowered their target price on General Motors from $38.00 to $35.00 and set an “underweight” rating for the company in a report on Monday, December 16th. UBS Group lifted their price objective on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a research report on Friday, October 11th. Finally, Royal Bank of Canada increased their price target on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $59.58.

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.