Jennison Associates LLC Decreases Stock Holdings in General Motors (NYSE:GM)

Jennison Associates LLC trimmed its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 53.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,487,255 shares of the auto manufacturer’s stock after selling 1,738,772 shares during the quarter. Jennison Associates LLC’s holdings in General Motors were worth $79,226,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Crews Bank & Trust purchased a new position in shares of General Motors during the fourth quarter worth approximately $26,000. Catalyst Capital Advisors LLC purchased a new position in General Motors in the third quarter worth $27,000. Truvestments Capital LLC acquired a new stake in shares of General Motors in the third quarter valued at about $27,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Motors during the 4th quarter valued at approximately $31,000. Finally, Eastern Bank purchased a new stake in General Motors during the third quarter worth $34,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GM. DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a report on Friday, October 11th. Sanford C. Bernstein increased their price objective on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Mizuho lifted their price target on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Finally, Wells Fargo & Company raised their price target on General Motors from $35.00 to $37.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.28.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction that occurred on 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 owns 126,907 shares in the company, valued at $7,000,190.12. The trade was a 49.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 514,344 shares of company stock valued at $28,977,691. 0.72% of the stock is currently owned by company insiders.

General Motors Trading Down 3.1 %

Shares of NYSE:GM opened at $47.90 on Tuesday. General Motors has a 12-month low of $37.60 and a 12-month high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The stock has a market cap of $47.66 billion, a PE ratio of 7.79, a P/E/G ratio of 0.69 and a beta of 1.42. The business has a 50 day moving average of $52.64 and a 200-day moving average of $49.95.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. As a group, equities research analysts forecast that General Motors will post 11.41 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.00%. General Motors’s dividend payout ratio is presently 7.80%.

General Motors Company 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.