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

Assenagon Asset Management S.A. reduced its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 79.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 488,748 shares of the auto manufacturer’s stock after selling 1,911,004 shares during the period. Assenagon Asset Management S.A.’s holdings in General Motors were worth $17,556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Weik Capital Management lifted its stake in General Motors by 3.1% during the first quarter. Weik Capital Management now owns 9,075 shares of the auto manufacturer’s stock valued at $397,000 after purchasing an additional 275 shares during the last quarter. RFG Advisory LLC raised its holdings in shares of General Motors by 5.4% during the fourth quarter. RFG Advisory LLC now owns 5,520 shares of the auto manufacturer’s stock valued at $227,000 after acquiring an additional 281 shares during the period. Penserra Capital Management LLC raised its holdings in shares of General Motors by 85.8% during the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after acquiring an additional 283 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in shares of General Motors by 2.4% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 12,755 shares of the auto manufacturer’s stock valued at $557,000 after acquiring an additional 294 shares during the period. Finally, Pacifica Partners Inc. raised its holdings in shares of General Motors by 10.1% during the fourth quarter. Pacifica Partners Inc. now owns 3,288 shares of the auto manufacturer’s stock valued at $107,000 after acquiring an additional 301 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other General Motors news, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the sale, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Gerald Johnson sold 15,190 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.03, for a total value of $608,055.70. Following the completion of the transaction, the executive vice president now owns 98,628 shares in the company, valued at approximately $3,948,078.84. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the transaction, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The disclosure for this sale can be found here. In the last three months, insiders sold 55,626 shares of company stock valued at $2,229,036. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

GM has been the topic of a number of recent analyst reports. Wolfe Research upgraded shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Thursday, January 4th. Mizuho boosted their price target on shares of General Motors from $44.00 to $48.00 and gave the company a “buy” rating in a report on Monday. Royal Bank of Canada boosted their price target on shares of General Motors from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. The Goldman Sachs Group upped their price objective on shares of General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Finally, Barclays upped their price objective on shares of General Motors from $37.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.63.

General Motors Stock Performance

GM stock opened at $44.61 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $51.49 billion, a price-to-earnings ratio of 6.10, a P/E/G ratio of 0.54 and a beta of 1.50. General Motors has a 12 month low of $26.30 and a 12 month high of $44.81. The firm has a 50 day moving average of $39.08 and a two-hundred day moving average of $34.46.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.08. The business had revenue of $42.98 billion during the quarter, compared to the consensus estimate of $38.81 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. General Motors’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.12 EPS. As a group, equities analysts anticipate that General Motors will post 9 EPS for the current fiscal year.

General Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Friday, March 1st were issued a dividend of $0.12 per share. This is an increase from General Motors’s previous quarterly dividend of $0.09. This represents a $0.48 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, February 29th. General Motors’s dividend payout ratio is currently 6.57%.

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.