Silvercrest Asset Management Group LLC Acquires 473 Shares of General Motors (NYSE:GM)

Silvercrest Asset Management Group LLC raised its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 7.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,094 shares of the auto manufacturer’s stock after acquiring an additional 473 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in General Motors were worth $322,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SVB Wealth LLC boosted its position in General Motors by 3.2% during the first quarter. SVB Wealth LLC now owns 79,892 shares of the auto manufacturer’s stock valued at $3,623,000 after purchasing an additional 2,495 shares in the last quarter. Hyperion Capital Advisors LP acquired a new stake in General Motors during the first quarter worth about $297,000. Epoch Investment Partners Inc. grew its holdings in General Motors by 4.3% during the first quarter. Epoch Investment Partners Inc. now owns 75,545 shares of the auto manufacturer’s stock worth $3,426,000 after acquiring an additional 3,089 shares during the period. LRI Investments LLC acquired a new stake in General Motors during the first quarter worth about $121,000. Finally, Gamco Investors INC. ET AL grew its holdings in General Motors by 11.7% during the first quarter. Gamco Investors INC. ET AL now owns 34,897 shares of the auto manufacturer’s stock worth $1,583,000 after acquiring an additional 3,659 shares during the period. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling

In other news, CEO Mary T. Barra sold 326,305 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the completion of the transaction, the chief executive officer now directly owns 898,648 shares of the company’s stock, valued at approximately $43,431,657.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the transaction, the president now directly owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mary T. Barra sold 326,305 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total value of $15,770,320.65. Following the completion of the sale, the chief executive officer now directly owns 898,648 shares of the company’s stock, valued at $43,431,657.84. The disclosure for this sale can be found here. Insiders sold 1,152,621 shares of company stock valued at $51,818,111 in the last three months. 0.72% of the stock is owned by corporate insiders.

General Motors Stock Performance

Shares of General Motors stock opened at $44.32 on Thursday. General Motors has a one year low of $26.30 and a one year high of $50.50. The company has a market cap of $49.81 billion, a price-to-earnings ratio of 5.42, a PEG ratio of 0.45 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The business’s 50 day moving average price is $46.47 and its 200 day moving average price is $43.19.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. The company had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.91 earnings per share. On average, research analysts predict that General Motors will post 9.91 EPS for the current year.

General Motors announced that its board has authorized a stock buyback plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

General Motors Announces Dividend

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

Analyst Ratings Changes

Several analysts recently commented on GM shares. Citigroup raised their target price on General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Bank of America reaffirmed a “buy” rating and set a $75.00 target price on shares of General Motors in a report on Wednesday, June 12th. Piper Sandler raised their price objective on General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. UBS Group raised their price objective on General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Morgan Stanley lowered General Motors from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $46.00 to $47.00 in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $56.38.

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.