California Public Employees Retirement System Sells 111,822 Shares of General Motors (NYSE:GM)

California Public Employees Retirement System trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,505,534 shares of the auto manufacturer’s stock after selling 111,822 shares during the quarter. California Public Employees Retirement System owned 0.18% of General Motors worth $89,999,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GM. Acadian Asset Management LLC increased its position in General Motors by 454.3% during the 3rd quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock worth $171,961,000 after purchasing an additional 4,275,293 shares in the last quarter. AQR Capital Management LLC increased its holdings in General Motors by 32.6% in the third quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock valued at $274,531,000 after purchasing an additional 2,049,412 shares during the period. Vanguard Group Inc. raised its position in General Motors by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after purchasing an additional 1,580,681 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in General Motors by 518.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 1,274,574 shares of the auto manufacturer’s stock worth $42,023,000 after buying an additional 1,068,474 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in General Motors by 175.2% in the third quarter. Canada Pension Plan Investment Board now owns 1,615,483 shares of the auto manufacturer’s stock valued at $53,262,000 after acquiring an additional 1,028,508 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity

In other news, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the sale, the chief accounting officer now owns 12,007 shares in the company, valued at approximately $540,315. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value of $1,227,541.72. Following the completion of the transaction, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at approximately $540,315. The disclosure for this sale can be found here. Insiders sold 86,248 shares of company stock worth $3,614,078 in the last three months. Corporate insiders own 0.54% of the company’s stock.

General Motors Stock Performance

NYSE GM opened at $45.07 on Thursday. The company’s 50 day moving average is $42.00 and its 200-day moving average is $36.12. The firm has a market cap of $52.03 billion, a P/E ratio of 5.51, a price-to-earnings-growth ratio of 0.53 and a beta of 1.51. General Motors has a 12-month low of $26.30 and a 12-month high of $46.04. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.60. The firm 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 business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.21 earnings per share. Sell-side analysts predict that General Motors will post 9.26 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s dividend payout ratio is presently 5.87%.

Wall Street Analyst Weigh In

GM has been the topic of a number of analyst reports. Wolfe Research raised shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Thursday, January 4th. Redburn Atlantic assumed coverage on shares of General Motors in a research report on Wednesday, January 24th. They set a “neutral” rating and a $40.00 target price on the stock. Citigroup increased their target price on General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company lifted their price objective on shares of General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Wednesday. Finally, Wedbush upped their target price on General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.38.

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.