Sei Investments Co. Decreases Holdings in General Motors (NYSE:GM)

Sei Investments Co. reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 4.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,255,490 shares of the auto manufacturer’s stock after selling 53,996 shares during the period. Sei Investments Co.’s holdings in General Motors were worth $58,331,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado increased its position in General Motors by 1,213.0% during 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 buying an additional 2,035,925 shares in the last quarter. US Bancorp DE raised its stake in General Motors by 59.3% in the 4th quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock valued at $3,121,000 after purchasing an additional 32,331 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in General Motors by 317.6% in the 4th quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock valued at $2,436,000 after purchasing an additional 51,571 shares in the last quarter. ACR Alpine Capital Research LLC boosted its stake in shares of General Motors by 8.4% during the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock worth $287,408,000 after purchasing an additional 492,693 shares during the last quarter. Finally, BDF Gestion purchased a new stake in shares of General Motors during the second quarter worth about $2,886,000. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Performance

NYSE GM opened at $48.88 on Monday. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $50.50. The stock has a market cap of $55.77 billion, a PE ratio of 5.98, a PEG ratio of 0.52 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The firm’s fifty day moving average price is $46.28 and its two-hundred day moving average price is $45.29.

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

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.98%. General Motors’s dividend payout ratio is presently 5.87%.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Nomura Securities upgraded General Motors to a “strong sell” rating in a research report on Monday, August 5th. Wells Fargo & Company cut their price objective on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a report on Tuesday, September 10th. Wedbush restated an “outperform” rating and issued a $55.00 target price on shares of General Motors in a report on Wednesday, July 24th. Morgan Stanley downgraded shares of General Motors from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $46.00 to $47.00 in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.27.

Insider Activity at General Motors

In other General Motors news, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were 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. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction on 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 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 SEC, which is accessible through this link. Also, EVP Rory Harvey sold 12,795 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were 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 $417,307.26. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

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.