Victory Capital Management Inc. Sells 109,485 Shares of General Motors (NYSE:GM)

Victory Capital Management Inc. decreased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 14.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 649,037 shares of the auto manufacturer’s stock after selling 109,485 shares during the period. Victory Capital Management Inc. owned about 0.06% of General Motors worth $23,313,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Acadian Asset Management LLC raised its stake in shares of General Motors by 454.3% during the 3rd quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock worth $171,961,000 after acquiring an additional 4,275,293 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of General Motors by 32.6% during the 3rd quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock valued at $274,531,000 after purchasing an additional 2,049,412 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of General Motors by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after purchasing an additional 1,580,681 shares in the last quarter. EP Wealth Advisors LLC grew its stake in General Motors by 518.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 1,274,574 shares of the auto manufacturer’s stock worth $42,023,000 after buying an additional 1,068,474 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in General Motors by 175.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,615,483 shares of the auto manufacturer’s stock valued at $53,262,000 after buying an additional 1,028,508 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

Shares of NYSE GM opened at $45.06 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. The firm’s 50 day simple moving average is $43.05 and its 200-day simple moving average is $37.11. General Motors has a 12 month low of $26.30 and a 12 month high of $46.17. The stock has a market capitalization of $51.41 billion, a price-to-earnings ratio of 5.51, a PEG ratio of 0.53 and a beta of 1.49.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating the consensus estimate of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The company had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. During the same quarter last year, the business earned $2.21 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. Analysts expect that General Motors will post 9.44 EPS for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.07%. General Motors’s dividend payout ratio is currently 5.87%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Redburn Atlantic initiated coverage on General Motors in a report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 price target for the company. Piper Sandler boosted their target price on shares of General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. StockNews.com raised shares of General Motors from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Wells Fargo & Company boosted their price objective on shares of General Motors from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Wednesday, April 24th. Finally, Barclays raised their target price on General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, General Motors presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.65.

Insider Buying and Selling at General Motors

In other news, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the transaction, the chief accounting officer now owns 12,007 shares in the company, valued at approximately $540,315. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Christopher Hatto sold 3,500 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.00, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the transaction, the executive vice president now directly owns 87,567 shares in the company, valued at $3,348,562.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,248 shares of company stock valued at $3,614,078. Company insiders own 0.72% of the company’s stock.

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.