Cerity Partners LLC Has $4.30 Million Stock Position in General Motors (NYSE:GM)

Cerity Partners LLC grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 361.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 119,714 shares of the auto manufacturer’s stock after purchasing an additional 93,754 shares during the quarter. Cerity Partners LLC’s holdings in General Motors were worth $4,300,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Penserra Capital Management LLC increased its holdings in shares of General Motors by 85.8% during the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock worth $26,000 after acquiring an additional 283 shares during the last quarter. Highlander Capital Management LLC acquired a new position in shares of General Motors during the 4th quarter worth approximately $27,000. SouthState Corp increased its holdings in shares of General Motors by 173.8% during the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after acquiring an additional 485 shares during the last quarter. BluePath Capital Management LLC acquired a new position in shares of General Motors during the 3rd quarter worth approximately $33,000. Finally, VitalStone Financial LLC increased its holdings in shares of General Motors by 8,026.7% during the 1st quarter. VitalStone Financial LLC now owns 1,219 shares of the auto manufacturer’s stock worth $71,000 after acquiring an additional 1,204 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GM shares. The Goldman Sachs Group boosted their target price on General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Wells Fargo & Company boosted their price target on General Motors from $27.00 to $28.00 and gave the company an “underweight” rating in a research note on Wednesday, January 31st. Barclays boosted their price target on General Motors from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Wolfe Research upgraded General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research note on Thursday, January 4th. Finally, TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.57.

General Motors Price Performance

Shares of GM stock opened at $42.46 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. General Motors has a twelve month low of $26.30 and a twelve month high of $46.04. The company has a market cap of $49.02 billion, a P/E ratio of 5.81, a P/E/G ratio of 0.52 and a beta of 1.51. The business has a fifty day simple moving average of $41.50 and a 200 day simple moving average of $35.68.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.08. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The business had revenue of $42.98 billion during the quarter, compared to the consensus estimate of $38.81 billion. During the same period in the prior year, the company earned $2.12 EPS. General Motors’s revenue for the quarter was down .3% on a year-over-year basis. On average, sell-side analysts forecast that General Motors will post 9.08 EPS for the current fiscal year.

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Friday, March 1st were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Thursday, February 29th. This is a boost from General Motors’s previous quarterly dividend of $0.09. General Motors’s dividend payout ratio is presently 6.57%.

Insiders Place Their Bets

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the sale, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at $540,315. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the sale, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. Insiders sold a total of 86,248 shares of company stock valued at $3,614,078 in the last 90 days. Corporate insiders own 0.54% of the company’s stock.

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.