General Motors (NYSE:GM) Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC lowered its position in General Motors (NYSE:GM) (TSE:GMM.U) by 90.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,000 shares of the auto manufacturer’s stock after selling 90,000 shares during the period. Wolverine Asset Management LLC’s holdings in General Motors were worth $465,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Public Employees Retirement Association of Colorado raised its position 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 acquiring an additional 2,035,925 shares during the period. US Bancorp DE raised its position in shares of General Motors by 59.3% in the fourth quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock worth $3,121,000 after acquiring an additional 32,331 shares during the period. GSA Capital Partners LLP raised its position in shares of General Motors by 317.6% in the fourth quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock worth $2,436,000 after acquiring an additional 51,571 shares during the period. ACR Alpine Capital Research LLC raised 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 worth $287,408,000 after acquiring an additional 492,693 shares during the period. Finally, M&G Investment Management Ltd. raised its position in shares of General Motors by 22.0% in the fourth quarter. M&G Investment Management Ltd. now owns 275,615 shares of the auto manufacturer’s stock worth $9,922,000 after acquiring an additional 49,729 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Down 0.6 %

Shares of NYSE GM opened at $48.15 on Friday. The company has a 50 day simple moving average of $46.26 and a 200-day simple moving average of $44.69. The company has a market capitalization of $54.94 billion, a P/E ratio of 5.89, a P/E/G ratio of 0.50 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. 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 announced its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The business had revenue of $47.97 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm earned $1.91 EPS. On average, equities research analysts predict that General Motors will post 9.94 earnings per share for the current year.

General Motors declared that its Board of Directors has approved a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. General Motors’s dividend payout ratio is currently 5.87%.

Insider Transactions at General Motors

In related news, President Mark L. Reuss sold 35,142 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $46.34, for a total transaction of $1,628,480.28. Following the completion of the transaction, the president now owns 126,907 shares of the company’s stock, valued at approximately $5,880,870.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Mark L. Reuss sold 35,142 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $46.34, for a total transaction of $1,628,480.28. Following the transaction, the president now directly owns 126,907 shares of the company’s stock, valued at approximately $5,880,870.38. The disclosure for this sale can be found here. Insiders sold 376,544 shares of company stock worth $18,134,919 in the last 90 days. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

GM has been the subject of a number of research reports. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Wolfe Research initiated coverage on shares of General Motors in a research note on Thursday. They set a “peer perform” rating for the company. Royal Bank of Canada cut their target price on shares of General Motors from $58.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. Finally, Bank of America reissued a “buy” rating and set a $75.00 target price on shares of General Motors in a research note on Wednesday, June 12th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, General Motors currently has a consensus rating of “Moderate Buy” and an average target price of $55.17.

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.