General Motors (NYSE:GM) Holdings Decreased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ cut its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 6.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 248,036 shares of the auto manufacturer’s stock after selling 15,900 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in General Motors were worth $11,524,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GM. Gryphon Financial Partners LLC acquired a new position in shares of General Motors in the 4th quarter valued at about $335,000. Gladstone Institutional Advisory LLC acquired a new position in General Motors in the fourth quarter valued at approximately $218,000. Quest Partners LLC bought a new position in shares of General Motors during the fourth quarter valued at approximately $244,000. Assetmark Inc. raised its position in shares of General Motors by 15.7% during the 4th quarter. Assetmark Inc. now owns 86,819 shares of the auto manufacturer’s stock worth $3,119,000 after purchasing an additional 11,811 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of General Motors by 25.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,708 shares of the auto manufacturer’s stock worth $205,000 after purchasing an additional 1,162 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on GM. Wells Fargo & Company lowered their price objective on General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a research note on Tuesday, September 10th. Wolfe Research started coverage on shares of General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research report on Monday, August 5th. Morgan Stanley cut shares of General Motors from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $46.00 to $47.00 in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.27.

General Motors Price Performance

Shares of General Motors stock opened at $48.88 on Friday. General Motors has a 52 week low of $26.30 and a 52 week high of $50.50. 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 stock has a market cap of $55.77 billion, a PE ratio of 5.98, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43. The company’s 50-day moving average price is $46.28 and its two-hundred day moving average price is $45.26.

General Motors (NYSE:GM) (TSE:GMM.U) last released its 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 business had revenue of $47.97 billion for 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 for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.91 EPS. As a group, sell-side analysts anticipate that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Dividend Announcement

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

General Motors declared that its board has authorized a stock repurchase plan on Tuesday, June 11th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

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

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.