Dai ichi Life Insurance Company Ltd Lowers Stock Position in General Motors (NYSE:GM)

Dai ichi Life Insurance Company Ltd reduced its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 40.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,433 shares of the auto manufacturer’s stock after selling 30,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in General Motors were worth $1,992,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of General Motors by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock valued at $601,730,000 after purchasing an additional 135,717 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in General Motors by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after buying an additional 1,091,137 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in General Motors by 3.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock worth $498,310,000 after acquiring an additional 421,989 shares during the period. LSV Asset Management boosted its stake in General Motors by 2.6% in the second quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock valued at $411,052,000 after acquiring an additional 223,260 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its position in shares of General Motors by 7.8% during the 2nd quarter. AustralianSuper Pty Ltd now owns 3,403,708 shares of the auto manufacturer’s stock valued at $158,136,000 after acquiring an additional 246,867 shares during the period. 92.67% of the stock is owned by institutional investors.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $510,865.13. The trade was a 51.16 % 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, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is currently owned by insiders.

General Motors Trading Up 1.3 %

Shares of GM stock opened at $55.50 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The firm has a market cap of $61.03 billion, a P/E ratio of 5.92, a price-to-earnings-growth ratio of 0.45 and a beta of 1.40. The business has a 50-day moving average price of $51.29 and a two-hundred day moving average price of $47.94. General Motors has a 12-month low of $28.33 and a 12-month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued 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 net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter last year, the company earned $2.28 EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. Equities analysts anticipate that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.86%. General Motors’s payout ratio is 5.12%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GM. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $53.00 price target on shares of General Motors in a research report on Tuesday, September 10th. Wolfe Research initiated coverage on General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. upped their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $56.92.

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.