Verdence Capital Advisors LLC Has $874,000 Holdings in General Motors (NYSE:GM)

Verdence Capital Advisors LLC lifted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 38.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,497 shares of the auto manufacturer’s stock after acquiring an additional 5,375 shares during the quarter. Verdence Capital Advisors LLC’s holdings in General Motors were worth $874,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital World Investors raised its stake in shares of General Motors by 14.6% during the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after acquiring an additional 6,201,777 shares during the last quarter. Swedbank AB bought a new position in General Motors during the 1st quarter worth $159,750,000. Artemis Investment Management LLP lifted its holdings in General Motors by 581.4% during the 3rd quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock worth $71,827,000 after buying an additional 1,366,768 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of General Motors by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after buying an additional 1,091,137 shares during the period. Finally, Panagora Asset Management Inc. raised its position in shares of General Motors by 3,333.1% during the second quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock worth $36,394,000 after acquiring an additional 760,523 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on GM. Morgan Stanley cut General Motors from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $47.00 to $42.00 in a report on Wednesday, September 25th. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. DZ Bank cut shares of 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, Wolfe Research assumed coverage on General Motors in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $56.92.

Insider Buying and Selling at General Motors

In other news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the transaction, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 653,511 shares of company stock worth $35,012,844. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Performance

GM opened at $55.58 on Monday. General Motors has a 1-year low of $26.30 and a 1-year high of $56.08. The company has a market cap of $61.12 billion, a price-to-earnings ratio of 5.93, a PEG ratio of 0.42 and a beta of 1.40. The company’s fifty day moving average price is $48.81 and its two-hundred day moving average price is $46.88. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24.

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

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, December 6th. General Motors’s payout ratio is currently 5.12%.

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.