American International Group Inc. Sells 55,455 Shares of General Motors (NYSE:GM)

American International Group Inc. lowered its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 15.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 292,396 shares of the auto manufacturer’s stock after selling 55,455 shares during the quarter. American International Group Inc.’s holdings in General Motors were worth $13,260,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in General Motors during the fourth quarter worth about $602,280,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of General Motors by 21.9% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after buying an additional 3,247,050 shares in the last quarter. Putnam Investments LLC lifted its holdings in shares of General Motors by 16.8% in the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after buying an additional 2,905,689 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in shares of General Motors by 1,213.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock worth $79,159,000 after buying an additional 2,035,925 shares in the last quarter. Finally, Caxton Associates LP lifted its holdings in shares of General Motors by 1,514.2% in the fourth quarter. Caxton Associates LP now owns 1,755,334 shares of the auto manufacturer’s stock worth $63,052,000 after buying an additional 1,646,594 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the transaction, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Mary T. Barra sold 626,316 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the sale, the chief executive officer now owns 1,198,648 shares in the company, valued at approximately $52,093,242.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mary T. Barra sold 326,305 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the sale, the chief executive officer now owns 898,648 shares in the company, valued at approximately $43,431,657.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,152,621 shares of company stock valued at $51,818,111. 0.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GM has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Wells Fargo & Company increased their price target on shares of General Motors from $32.00 to $34.00 and gave the stock an “underweight” rating in a report on Wednesday. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on shares of General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Mizuho raised their target price on shares of General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $56.38.

General Motors Price Performance

NYSE GM traded down $1.96 on Thursday, reaching $44.53. 15,389,559 shares of the company’s stock traded hands, compared to its average volume of 15,920,742. General Motors has a 12 month low of $26.30 and a 12 month high of $50.50. 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 stock has a 50-day simple moving average of $46.56 and a 200 day simple moving average of $42.91. The stock has a market cap of $50.81 billion, a PE ratio of 5.45, a P/E/G ratio of 0.48 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.74%. The company had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. During the same period in the previous year, the firm earned $1.91 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, research analysts predict that General Motors will post 9.63 earnings per share for the current year.

General Motors announced that its Board of Directors has approved a share buyback plan on Tuesday, June 11th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Friday, September 6th. General Motors’s payout ratio is currently 5.87%.

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.