Deprince Race & Zollo Inc. Sells 80,633 Shares of General Motors (NYSE:GM)

Deprince Race & Zollo Inc. trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 11.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 594,649 shares of the auto manufacturer’s stock after selling 80,633 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in General Motors were worth $27,627,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. LifeSteps Financial Inc. purchased a new stake in shares of General Motors during the 1st quarter valued at about $25,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors in the 2nd quarter valued at approximately $28,000. Fortitude Family Office LLC raised its stake in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares during the period. Cape Investment Advisory Inc. grew its position in General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 359 shares during the last quarter. Finally, Montag A & Associates Inc. bought a new stake in shares of General Motors during the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Down 4.9 %

GM stock opened at $45.72 on Thursday. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $50.50. The company has a market cap of $51.39 billion, a P/E ratio of 5.59, a price-to-earnings-growth ratio of 0.56 and a beta of 1.43. The stock’s 50 day simple moving average is $46.22 and its 200 day simple moving average is $45.42. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.39. The business had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. General Motors’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.91 earnings per share. On average, research analysts expect that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors announced that its Board of Directors has approved a stock repurchase plan on Tuesday, June 11th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Friday, September 6th. General Motors’s payout ratio is 5.87%.

Insider Activity at General Motors

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GM. Wells Fargo & Company reduced their price target on General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 10th. Sanford C. Bernstein cut shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price objective for the company. in a research report on Monday. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. increased their price objective on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 target price on shares of General Motors in a report on Tuesday, September 10th. Four analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $54.92.

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.