Sompo Asset Management Co. Ltd. Sells 460 Shares of General Motors (NYSE:GM)

Sompo Asset Management Co. Ltd. cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,260 shares of the auto manufacturer’s stock after selling 460 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in General Motors were worth $460,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GM. Silvercrest Asset Management Group LLC grew its position in General Motors by 7.1% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 7,094 shares of the auto manufacturer’s stock valued at $322,000 after purchasing an additional 473 shares during the period. Virtus Investment Advisers Inc. purchased a new position in General Motors during the 1st quarter valued at about $249,000. B. Riley Wealth Advisors Inc. grew its holdings in shares of General Motors by 35.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 36,493 shares of the auto manufacturer’s stock worth $1,655,000 after purchasing an additional 9,460 shares in the last quarter. KLCM Advisors Inc. grew its holdings in shares of General Motors by 2.1% during the first quarter. KLCM Advisors Inc. now owns 217,519 shares of the auto manufacturer’s stock worth $9,864,000 after purchasing an additional 4,387 shares in the last quarter. Finally, iA Global Asset Management Inc. grew its holdings in shares of General Motors by 668.2% during the first quarter. iA Global Asset Management Inc. now owns 84,407 shares of the auto manufacturer’s stock worth $3,828,000 after purchasing an additional 73,419 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. The Goldman Sachs Group upped their target price on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Wells Fargo & Company upped their target price on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Nomura Securities raised General Motors to a “strong sell” rating in a research note on Monday, August 5th. Finally, DZ Bank lowered 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. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $56.92.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $56.63, for a total value of $21,697,331.46. Following the transaction, the executive vice president now owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. This represents a 75.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the transaction, the president now directly owns 126,907 shares in the company, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,021,556 shares of company stock valued at $55,974,057. 0.72% of the stock is owned by company insiders.

General Motors Trading Up 5.1 %

NYSE GM opened at $58.53 on Monday. General Motors has a 12 month low of $27.93 and a 12 month high of $59.39. The stock has a market cap of $64.36 billion, a P/E ratio of 6.24, a P/E/G ratio of 0.42 and a beta of 1.40. The stock’s fifty day moving average price is $50.74 and its 200-day moving average price is $47.71. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same period in the prior year, the firm posted $2.28 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities analysts forecast that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is 5.12%.

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.