Securian Asset Management Inc. Sells 2,390 Shares of General Motors (NYSE:GM)

Securian Asset Management Inc. reduced its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 65,605 shares of the auto manufacturer’s stock after selling 2,390 shares during the quarter. Securian Asset Management Inc.’s holdings in General Motors were worth $3,048,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GM. LifeSteps Financial Inc. bought a new position in shares of General Motors during the 1st quarter valued at approximately $25,000. Fortitude Family Office LLC boosted its stake in General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the period. Cape Investment Advisory Inc. boosted its stake in General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after purchasing an additional 359 shares during the period. Montag A & Associates Inc. bought a new position in General Motors in the 1st quarter worth approximately $30,000. Finally, YHB Investment Advisors Inc. bought a new position in General Motors in the 1st quarter worth approximately $32,000. 92.67% of the stock is currently owned by institutional investors.

General Motors Price Performance

Shares of NYSE GM traded down $0.47 during mid-day trading on Monday, reaching $43.01. The company’s stock had a trading volume of 5,175,748 shares, compared to its average volume of 15,936,260. The stock has a 50-day moving average of $46.18 and a two-hundred day moving average of $43.57. The stock has a market capitalization of $49.07 billion, a P/E ratio of 5.24, a P/E/G ratio of 0.44 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. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. During the same quarter in the prior year, the firm posted $1.91 earnings per share. General Motors’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities research analysts anticipate that General Motors will post 9.94 EPS for the current fiscal year.

General Motors declared that its board has approved a stock buyback plan on Tuesday, June 11th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, September 6th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, September 6th. General Motors’s dividend payout ratio is currently 5.87%.

Insider Activity at General Motors

In other General Motors news, President Mark L. Reuss sold 14,858 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $46.01, for a total transaction of $683,616.58. Following the completion of the transaction, the president now owns 162,049 shares of the company’s stock, valued at $7,455,874.49. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, President Mark L. Reuss sold 14,858 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $46.01, for a total value of $683,616.58. Following the completion of the transaction, the president now owns 162,049 shares of the company’s stock, valued at $7,455,874.49. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Paul A. Jacobson acquired 25,000 shares of the stock in a transaction dated Friday, July 26th. The stock was acquired at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 1,152,621 shares of company stock valued at $51,818,111. 0.72% of the stock is owned by company insiders.

Analyst Ratings Changes

GM has been the subject of several recent research reports. Bank of America restated a “buy” rating and issued a $75.00 price target on shares of General Motors in a report on Wednesday, June 12th. Piper Sandler increased their price target on shares of General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Citigroup increased their price target on shares of General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Sanford C. Bernstein began coverage on shares of General Motors in a report on Thursday, April 25th. They set an “outperform” rating and a $55.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, five have given 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.com, General Motors presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.17.

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.