Vicus Capital Lowers Stake in General Motors (NYSE:GM)

Vicus Capital lowered its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 15.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,652 shares of the auto manufacturer’s stock after selling 1,713 shares during the quarter. Vicus Capital’s holdings in General Motors were worth $433,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GM. Capital World Investors lifted its holdings in General Motors by 14.6% during the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after purchasing an additional 6,201,777 shares in the last quarter. Swedbank AB bought a new stake in shares of General Motors during the first quarter valued at approximately $159,750,000. Artemis Investment Management LLP raised its position in shares of General Motors by 581.4% during the third quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock valued at $71,827,000 after buying an additional 1,366,768 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of General Motors by 366.6% during the first quarter. Retirement Systems of Alabama now owns 1,408,345 shares of the auto manufacturer’s stock valued at $63,868,000 after buying an additional 1,106,526 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of General Motors by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after buying an additional 1,091,137 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity

In related news, CFO Paul A. Jacobson bought 25,000 shares of the stock in a transaction dated Friday, July 26th. The stock was 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 $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul A. Jacobson acquired 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was acquired 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 $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of General Motors from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Sanford C. Bernstein cut shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price target on the stock. in a research report on Monday, September 23rd. The Goldman Sachs Group boosted their price target on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 price target on shares of General Motors in a research report on Tuesday, September 10th. Finally, StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $55.35.

General Motors Stock Up 9.8 %

Shares of GM opened at $53.73 on Wednesday. The firm has a market capitalization of $61.30 billion, a P/E ratio of 6.57, a P/E/G ratio of 0.56 and a beta of 1.42. General Motors has a 12-month low of $26.30 and a 12-month high of $54.17. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The firm has a fifty day moving average price of $47.33 and a 200-day moving average price of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its 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 firm had revenue of $47.97 billion during 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 business’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.91 earnings per share. Equities research analysts expect that General Motors will post 9.95 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.87%.

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.