Atomi Financial Group Inc. Raises Stake in General Motors (NYSE:GM)

Atomi Financial Group Inc. raised its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 10.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,436 shares of the auto manufacturer’s stock after buying an additional 888 shares during the quarter. Atomi Financial Group Inc.’s holdings in General Motors were worth $423,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GM. Strategic Investment Solutions Inc. IL purchased a new stake in General Motors in the 2nd quarter valued at $25,000. Wellington Shields Capital Management LLC purchased a new stake in General Motors in the 2nd quarter valued at $28,000. Fortitude Family Office LLC grew its holdings in General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares in the last quarter. Montag A & Associates Inc. purchased a new position in shares of General Motors during the 1st quarter worth $30,000. Finally, EdgeRock Capital LLC purchased a new position in shares of General Motors during the 2nd quarter worth $33,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on GM. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Wells Fargo & Company lowered their price target on General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a report on Tuesday, September 10th. Sanford C. Bernstein cut General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price target for the company. in a report on Monday, September 23rd. Nomura Securities upgraded General Motors to a “strong sell” rating in a report on Monday, August 5th. Finally, Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a report on Monday, August 5th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $55.16.

General Motors Price Performance

GM stock opened at $47.87 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The firm has a market capitalization of $53.80 billion, a P/E ratio of 5.38, a P/E/G ratio of 0.56 and a beta of 1.42. The business’s 50-day moving average is $46.27 and its two-hundred day moving average is $45.79. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 15.77% and a net margin of 6.22%. General Motors’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.91 EPS. Analysts anticipate that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, September 6th. General Motors’s dividend payout ratio (DPR) is presently 5.39%.

Insider Transactions at General Motors

In other General Motors news, CFO Paul A. Jacobson bought 25,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were acquired at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the transaction, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Paul A. Jacobson bought 25,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were acquired at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the transaction, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.

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.