General Motors (NYSE:GM) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New lessened its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 3.2% during the fourth quarter, Holdings Channel reports. The firm owned 11,278 shares of the auto manufacturer’s stock after selling 367 shares during the period. Cigna Investments Inc. New’s holdings in General Motors were worth $601,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GM. CWM LLC increased its stake in General Motors by 17.8% during the 3rd quarter. CWM LLC now owns 57,583 shares of the auto manufacturer’s stock worth $2,582,000 after buying an additional 8,700 shares during the period. Ritholtz Wealth Management bought a new stake in shares of General Motors during the 3rd quarter valued at about $389,000. Exchange Traded Concepts LLC grew its position in shares of General Motors by 5.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 198,188 shares of the auto manufacturer’s stock valued at $8,887,000 after buying an additional 10,596 shares during the last quarter. CHICAGO TRUST Co NA boosted its stake in General Motors by 22.0% during the 3rd quarter. CHICAGO TRUST Co NA now owns 15,206 shares of the auto manufacturer’s stock valued at $682,000 after purchasing an additional 2,744 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in General Motors by 569.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,621 shares of the auto manufacturer’s stock valued at $73,000 after purchasing an additional 1,379 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In related news, EVP Rory Harvey sold 8,919 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the purchase, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Performance

GM stock opened at $46.53 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $46.29 billion, a price-to-earnings ratio of 7.57, a P/E/G ratio of 0.68 and a beta of 1.40. General Motors has a 12 month low of $37.83 and a 12 month high of $61.24. The firm has a 50 day moving average of $51.80 and a two-hundred day moving average of $49.95.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, equities analysts anticipate that General Motors will post 11.28 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is 7.80%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GM shares. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. Wedbush upped their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. HSBC lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research note on Wednesday, December 11th. JPMorgan Chase & Co. upped their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada upped their price target 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 equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.28.

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.