General Motors (NYSE:GM) Shares Acquired by Synovus Financial Corp

Synovus Financial Corp increased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 125.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,803 shares of the auto manufacturer’s stock after buying an additional 25,443 shares during the period. Synovus Financial Corp’s holdings in General Motors were worth $2,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC raised its holdings in shares of General Motors by 44.7% during the third quarter. Tidal Investments LLC now owns 65,389 shares of the auto manufacturer’s stock valued at $2,932,000 after acquiring an additional 20,206 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of General Motors in the third quarter valued at about $1,907,000. World Investment Advisors LLC acquired a new position in General Motors during the third quarter worth about $237,000. Sanctuary Advisors LLC grew its stake in General Motors by 8.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 330,703 shares of the auto manufacturer’s stock valued at $14,829,000 after acquiring an additional 26,954 shares in the last quarter. Finally, Te Ahumairangi Investment Management Ltd raised its holdings in General Motors by 6.6% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 100,708 shares of the auto manufacturer’s stock valued at $4,490,000 after acquiring an additional 6,200 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on GM. UBS Group upped their price target on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wedbush raised their target price on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Barclays upped their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada lifted their target price on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, General Motors currently has a consensus rating of “Hold” and an average target price of $58.85.

Insiders Place Their Bets

In other news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. This represents a 42.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 8,919 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. This trade represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,030,475 shares of company stock worth $56,509,286 in the last 90 days. Corporate insiders own 0.72% of the company’s stock.

General Motors Price Performance

Shares of GM opened at $52.53 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. General Motors has a fifty-two week low of $34.32 and a fifty-two week high of $61.24. The company has a market cap of $57.76 billion, a P/E ratio of 5.60, a PEG ratio of 0.39 and a beta of 1.42. The firm’s 50 day moving average price is $53.00 and its 200 day moving average price is $48.72.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping the consensus estimate of $2.49 by $0.47. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. General Motors’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.28 EPS. On average, research analysts forecast that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.91%. General Motors’s dividend payout ratio is currently 5.12%.

General Motors 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.