State of Michigan Retirement System lifted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 11.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,662 shares of the auto manufacturer’s stock after purchasing an additional 33,442 shares during the period. State of Michigan Retirement System’s holdings in General Motors were worth $8,138,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Guggenheim Capital LLC boosted its stake in shares of General Motors by 18.5% during the 4th quarter. Guggenheim Capital LLC now owns 470,515 shares of the auto manufacturer’s stock worth $17,220,000 after purchasing an additional 73,435 shares during the last quarter. Man Group plc boosted its position in General Motors by 187.7% during the fourth quarter. Man Group plc now owns 151,994 shares of the auto manufacturer’s stock worth $5,563,000 after acquiring an additional 99,160 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in General Motors by 8.7% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 8,886 shares of the auto manufacturer’s stock worth $184,000 after acquiring an additional 710 shares during the period. Foundations Investment Advisors LLC raised its holdings in General Motors by 53.2% in the 1st quarter. Foundations Investment Advisors LLC now owns 50,486 shares of the auto manufacturer’s stock valued at $972,000 after acquiring an additional 17,529 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of General Motors by 3.5% during the 1st quarter. State of Alaska Department of Revenue now owns 331,593 shares of the auto manufacturer’s stock worth $6,889,000 after purchasing an additional 11,339 shares during the period. Hedge funds and other institutional investors own 75.41% of the company’s stock.
GM stock opened at $24.89 on Friday. The firm has a market cap of $35.62 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 1.78 and a beta of 1.40. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.95 and a current ratio of 1.12. General Motors has a 1 year low of $14.32 and a 1 year high of $41.90. The stock has a 50-day simple moving average of $25.92 and a 200-day simple moving average of $26.92.
In other news, EVP Julian G. Blissett purchased 9,300 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average cost of $26.00 per share, with a total value of $241,800.00. Following the acquisition, the executive vice president now owns 22,130 shares in the company, valued at $575,380. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.65% of the stock is currently owned by corporate insiders.
Several equities analysts recently commented on the company. Jefferies Financial Group reiterated a “neutral” rating and issued a $28.00 target price on shares of General Motors in a research note on Thursday, June 18th. Morgan Stanley upped their price objective on shares of General Motors from $40.00 to $43.00 and gave the company a “positive” rating in a research note on Thursday, June 11th. Cfra lowered shares of General Motors to a “sell” rating and set a $15.00 price objective on the stock. in a report on Tuesday, April 7th. Nomura Instinet dropped their price target on shares of General Motors from $36.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $33.00 price target on shares of General Motors in a report on Wednesday, June 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. General Motors has a consensus rating of “Buy” and an average price target of $35.37.
About General Motors
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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