Acadian Asset Management LLC Decreases Stock Position in General Motors (NYSE:GM)

Acadian Asset Management LLC reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 40.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 572,428 shares of the auto manufacturer’s stock after selling 381,066 shares during the quarter. Acadian Asset Management LLC owned approximately 0.05% of General Motors worth $25,954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Public Employees Retirement Association of Colorado grew its position 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 valued at $79,159,000 after purchasing an additional 2,035,925 shares in the last quarter. Handelsbanken Fonder AB grew its position in General Motors by 18.5% during the fourth quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock worth $17,064,000 after buying an additional 74,194 shares in the last quarter. US Bancorp DE grew its position in General Motors by 59.3% during the fourth quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock worth $3,121,000 after buying an additional 32,331 shares in the last quarter. GSA Capital Partners LLP grew its position in General Motors by 317.6% during the fourth quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock worth $2,436,000 after buying an additional 51,571 shares in the last quarter. Finally, Cerity Partners LLC grew its position in General Motors by 361.1% during the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock worth $4,300,000 after buying an additional 93,754 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Stock Up 2.5 %

Shares of General Motors stock traded up $1.22 during midday trading on Monday, hitting $49.52. The company had a trading volume of 8,921,584 shares, compared to its average volume of 15,646,949. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16. The stock has a market capitalization of $56.50 billion, a P/E ratio of 5.90, a P/E/G ratio of 0.51 and a beta of 1.43. The company has a 50 day moving average of $46.43 and a 200 day moving average of $42.71. General Motors has a 52-week low of $26.30 and a 52-week high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.21 EPS. On average, equities analysts predict that General Motors will post 9.43 earnings per share for the current fiscal year.

General Motors announced that its Board of Directors has initiated a stock buyback program on Tuesday, June 11th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to reacquire up to 10.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wells Fargo & Company boosted their target price on General Motors from $30.00 to $32.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 25th. Wedbush lifted their price target on General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Barclays lifted their price target on General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Sanford C. Bernstein began coverage on General Motors in a research note on Thursday, April 25th. They set an “outperform” rating and a $55.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, General Motors currently has an average rating of “Moderate Buy” and an average target price of $55.96.

Insider Buying and Selling

In other General Motors news, President Mark L. Reuss sold 150,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the sale, the president now owns 176,907 shares in the company, valued at approximately $7,684,840.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Mary T. Barra sold 326,305 shares of the firm’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 owns 898,648 shares in the company, valued at $43,431,657.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total value of $6,516,000.00. Following the transaction, the president now owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,152,621 shares of company stock valued at $51,818,111. 0.72% of the stock is owned by company insiders.

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.