Legal & General Group Plc boosted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,638,471 shares of the auto manufacturer’s stock after purchasing an additional 275,032 shares during the period. Legal & General Group Plc owned about 0.60% of General Motors worth $180,067,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in GM. Norges Bank bought a new position in General Motors in the fourth quarter valued at $524,865,000. BlackRock Inc. lifted its stake in General Motors by 4.8% in the first quarter. BlackRock Inc. now owns 104,047,751 shares of the auto manufacturer’s stock valued at $2,162,112,000 after acquiring an additional 4,719,148 shares during the last quarter. FMR LLC lifted its stake in General Motors by 35.5% in the fourth quarter. FMR LLC now owns 12,290,807 shares of the auto manufacturer’s stock valued at $449,844,000 after acquiring an additional 3,218,806 shares during the last quarter. Janus Henderson Group PLC lifted its stake in General Motors by 49.6% in the fourth quarter. Janus Henderson Group PLC now owns 9,161,218 shares of the auto manufacturer’s stock valued at $335,304,000 after acquiring an additional 3,037,349 shares during the last quarter. Finally, Senator Investment Group LP acquired a new stake in General Motors in the fourth quarter valued at $91,500,000. 75.46% of the stock is owned by institutional investors and hedge funds.
General Motors stock traded down $1.85 during midday trading on Thursday, hitting $26.90. The company’s stock had a trading volume of 10,061,805 shares, compared to its average volume of 16,097,949. General Motors has a 1-year low of $14.32 and a 1-year high of $41.90. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.07 and a quick ratio of 0.95. The company has a 50-day moving average price of $24.57 and a two-hundred day moving average price of $29.48. The company has a market cap of $38.67 billion, a price-to-earnings ratio of 8.26, a PEG ratio of 2.32 and a beta of 1.41.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Wednesday, May 6th. The auto manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.32. General Motors had a net margin of 3.60% and a return on equity of 12.73%. The business had revenue of $32.71 billion during the quarter, compared to analysts’ expectations of $31.37 billion. During the same quarter in the previous year, the company earned $1.41 EPS. The business’s revenue was down 6.2% on a year-over-year basis. Sell-side analysts forecast that General Motors will post 1.34 EPS for the current year.
In other news, EVP Julian G. Blissett bought 9,300 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were purchased at an average cost of $26.00 per share, with a total value of $241,800.00. Following the acquisition, the executive vice president now directly owns 22,130 shares in the company, valued at $575,380. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Matthew Tsien bought 22,400 shares of the firm’s stock in a transaction on Wednesday, March 25th. The stock was purchased at an average cost of $22.97 per share, for a total transaction of $514,528.00. Following the completion of the acquisition, the executive vice president now owns 62,234 shares in the company, valued at $1,429,514.98. The disclosure for this purchase can be found here. 0.51% of the stock is owned by company insiders.
A number of analysts have commented on GM shares. Zacks Investment Research upgraded shares of General Motors from a “sell” rating to a “hold” rating and set a $29.00 price target for the company in a research note on Wednesday, May 27th. Cfra cut shares of General Motors to a “sell” rating and set a $15.00 price target for the company. in a research note on Tuesday, April 7th. ValuEngine upgraded shares of General Motors from a “sell” rating to a “hold” rating in a research note on Monday, June 1st. Bank of America cut their price target on shares of General Motors from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Finally, Nomura Instinet cut their target price on shares of General Motors from $36.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $34.12.
General Motors Company Profile
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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