Amalgamated Bank Decreases Position in General Motors (NYSE:GM)

Amalgamated Bank decreased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 1.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 230,752 shares of the auto manufacturer’s stock after selling 4,167 shares during the period. Amalgamated Bank’s holdings in General Motors were worth $10,721,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Public Employees Retirement Association of Colorado increased its stake in shares of General Motors by 1,213.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock worth $79,159,000 after purchasing an additional 2,035,925 shares in the last quarter. US Bancorp DE grew its stake in General Motors by 59.3% in the 4th quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock valued at $3,121,000 after buying an additional 32,331 shares in the last quarter. GSA Capital Partners LLP raised its holdings in General Motors by 317.6% during the 4th quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock valued at $2,436,000 after acquiring an additional 51,571 shares during the period. ACR Alpine Capital Research LLC lifted its position in shares of General Motors by 8.4% during the first quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock worth $287,408,000 after acquiring an additional 492,693 shares in the last quarter. Finally, BDF Gestion bought a new position in shares of General Motors in the second quarter worth $2,886,000. 92.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GM. Royal Bank of Canada dropped their price objective on General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Bank of America reissued a “buy” rating and issued a $75.00 price target on shares of General Motors in a report on Wednesday, June 12th. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective for the company. in a research note on Monday, August 5th. Wells Fargo & Company decreased their target price on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a report on Tuesday, September 10th. Finally, Wolfe Research started coverage on shares of General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $55.27.

Insider Activity at General Motors

In related news, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were acquired at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other General Motors news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul A. Jacobson acquired 25,000 shares of the stock in a transaction dated Friday, July 26th. The shares were purchased at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the purchase, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by company insiders.

General Motors Price Performance

Shares of General Motors stock opened at $48.67 on Thursday. The business’s 50-day moving average price is $46.26 and its 200-day moving average price is $45.15. The firm has a market capitalization of $55.53 billion, a PE ratio of 5.95, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43. General Motors has a 12 month low of $26.30 and a 12 month high of $50.50. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.67 by $0.39. The company had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.91 EPS. Sell-side analysts forecast that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Friday, September 6th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

General Motors announced that its board has authorized a stock repurchase program on Tuesday, June 11th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

About General Motors

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.