Assenagon Asset Management S.A. Increases Position in General Motors (NYSE:GM)

Assenagon Asset Management S.A. lifted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 23.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 704,922 shares of the auto manufacturer’s stock after purchasing an additional 135,289 shares during the period. Assenagon Asset Management S.A.’s holdings in General Motors were worth $37,551,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Miracle Mile Advisors LLC boosted its stake in shares of General Motors by 113.0% in the fourth quarter. Miracle Mile Advisors LLC now owns 10,459 shares of the auto manufacturer’s stock worth $557,000 after acquiring an additional 5,549 shares during the period. Cooper Financial Group lifted its holdings in General Motors by 15.6% in the 4th quarter. Cooper Financial Group now owns 11,967 shares of the auto manufacturer’s stock worth $637,000 after purchasing an additional 1,615 shares in the last quarter. Wedmont Private Capital boosted its stake in General Motors by 12.2% in the 4th quarter. Wedmont Private Capital now owns 9,968 shares of the auto manufacturer’s stock worth $497,000 after purchasing an additional 1,082 shares during the period. Czech National Bank grew its holdings in General Motors by 4.1% during the 4th quarter. Czech National Bank now owns 238,415 shares of the auto manufacturer’s stock valued at $12,700,000 after buying an additional 9,461 shares in the last quarter. Finally, Hilltop National Bank raised its position in shares of General Motors by 6.9% during the fourth quarter. Hilltop National Bank now owns 3,876 shares of the auto manufacturer’s stock valued at $206,000 after buying an additional 249 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GM shares. Wedbush raised their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein raised their price target on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Mizuho upped their price objective on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Barclays raised 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. Finally, Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors currently has a consensus rating of “Hold” and an average target price of $59.68.

Insider Buying and Selling

In other news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $510,865.13. The trade was 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 valued at $56,509,286 over the last 90 days. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Up 0.2 %

Shares of NYSE:GM opened at $51.80 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The business’s 50 day moving average is $53.76 and its 200 day moving average is $49.58. The stock has a market cap of $56.96 billion, a P/E ratio of 5.52, a price-to-earnings-growth ratio of 0.36 and a beta of 1.42. General Motors has a 52-week low of $34.32 and a 52-week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced 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 return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same quarter last year, the firm posted $2.28 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. Sell-side analysts predict that General Motors will post 10.34 EPS for the current year.

General Motors Dividend Announcement

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