OLD Mutual Customised Solutions Proprietary Ltd. Has $1.41 Million Position in General Motors Company (GM)
OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 22.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,760 shares of the auto manufacturer’s stock after buying an additional 7,360 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in General Motors were worth $1,406,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Pekin Singer Strauss Asset Management IL increased its position in General Motors by 3.1% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 63,330 shares of the auto manufacturer’s stock worth $2,206,000 after buying an additional 1,912 shares during the period. IFC Holdings Incorporated FL increased its position in General Motors by 83.3% in the first quarter. IFC Holdings Incorporated FL now owns 32,031 shares of the auto manufacturer’s stock worth $1,141,000 after buying an additional 14,559 shares during the period. Suntrust Banks Inc. increased its position in General Motors by 29.5% in the first quarter. Suntrust Banks Inc. now owns 226,531 shares of the auto manufacturer’s stock worth $8,008,000 after buying an additional 51,539 shares during the period. Pegasus Partners Ltd. increased its position in General Motors by 2.6% in the fourth quarter. Pegasus Partners Ltd. now owns 21,531 shares of the auto manufacturer’s stock worth $750,000 after buying an additional 536 shares during the period. Finally, Mosaic Family Wealth LLC increased its position in General Motors by 9.9% in the first quarter. Mosaic Family Wealth LLC now owns 10,025 shares of the auto manufacturer’s stock worth $354,000 after buying an additional 900 shares during the period. 73.50% of the stock is currently owned by institutional investors and hedge funds.
General Motors Company (NYSE:GM) opened at 36.38 on Tuesday. The stock’s 50 day moving average is $33.94 and its 200 day moving average is $35.33. General Motors Company has a 12-month low of $29.82 and a 12-month high of $38.55. The stock has a market capitalization of $54.90 billion, a price-to-earnings ratio of 5.63 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Friday, April 28th. The auto manufacturer reported $1.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.25. General Motors had a return on equity of 22.82% and a net margin of 5.92%. The firm had revenue of $41.20 billion during the quarter, compared to the consensus estimate of $37.38 billion. During the same period last year, the company earned $1.26 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts forecast that General Motors Company will post $6.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.18%. The ex-dividend date was Wednesday, June 7th. General Motors’s dividend payout ratio is presently 23.53%.
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A number of research firms have commented on GM. UBS AG reissued a “buy” rating and set a $40.00 target price (up previously from $38.00) on shares of General Motors in a research report on Friday, April 14th. Piper Jaffray Companies reissued a “buy” rating and set a $44.00 target price on shares of General Motors in a research report on Wednesday, July 12th. Royal Bank Of Canada reissued a “hold” rating and set a $37.00 target price on shares of General Motors in a research report on Friday. Vetr downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $37.42 target price on the stock. in a research report on Monday. Finally, Evercore ISI reissued an “in-line” rating and set a $40.00 target price on shares of General Motors in a research report on Thursday, March 30th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $39.50.
In related news, Director Jane L. Mendillo purchased 1,520 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was purchased at an average cost of $32.92 per share, with a total value of $50,038.40. Following the completion of the acquisition, the director now directly owns 3,120 shares in the company, valued at $102,710.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Stefan Jacoby sold 2,686 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $33.85, for a total value of $90,921.10. Following the sale, the insider now directly owns 80,379 shares of the company’s stock, valued at $2,720,829.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 139,158 shares of company stock valued at $4,643,312. Corporate insiders own 0.04% of the company’s stock.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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