General Motors (NYSE:GM) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 86.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 569,633 shares of the auto manufacturer’s stock after purchasing an additional 264,880 shares during the period. Assenagon Asset Management S.A.’s holdings in General Motors were worth $25,542,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. ACR Alpine Capital Research LLC increased its position in shares of General Motors by 8.4% in the first quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock valued at $287,408,000 after buying an additional 492,693 shares in the last quarter. BDF Gestion purchased a new position in shares of General Motors in the second quarter worth about $2,886,000. Atomi Financial Group Inc. acquired a new position in shares of General Motors during the 1st quarter worth approximately $244,000. Cetera Investment Advisers grew its position in shares of General Motors by 98.5% in the first quarter. Cetera Investment Advisers now owns 330,611 shares of the auto manufacturer’s stock valued at $14,993,000 after purchasing an additional 164,083 shares in the last quarter. Finally, Susquehanna International Group Ltd. acquired a new stake in shares of General Motors in the 2nd quarter worth $636,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GM. Barclays upped their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday. DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research note on Friday, October 11th. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a report on Monday, August 5th. Finally, Sanford C. Bernstein lifted their price target on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $56.92.

Insiders Place Their Bets

In other news, EVP Rory Harvey sold 12,795 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $417,307.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 531,228 shares of company stock valued at $28,267,714 over the last 90 days. 0.72% of the stock is currently owned by company insiders.

General Motors Price Performance

NYSE GM opened at $52.07 on Friday. The stock’s 50-day moving average price is $47.68 and its two-hundred day moving average price is $46.13. The company has a market cap of $59.41 billion, a PE ratio of 6.37, a PEG ratio of 0.56 and a beta of 1.42. 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 has a 1 year low of $26.30 and a 1 year high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the prior year, the firm earned $2.28 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. On average, analysts predict that General Motors will post 9.95 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.92%. General Motors’s dividend payout ratio is currently 5.87%.

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.