Verdence Capital Advisors LLC Buys 10,344 Shares of General Motors Company $GM

Verdence Capital Advisors LLC boosted its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 27.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,887 shares of the auto manufacturer’s stock after acquiring an additional 10,344 shares during the period. Verdence Capital Advisors LLC’s holdings in General Motors were worth $2,920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GM. Tradewinds LLC. acquired a new position in shares of General Motors in the 3rd quarter worth approximately $244,000. Allstate Corp bought a new position in General Motors during the third quarter worth $2,189,000. NorthCrest Asset Manangement LLC lifted its holdings in General Motors by 50.7% in the third quarter. NorthCrest Asset Manangement LLC now owns 17,845 shares of the auto manufacturer’s stock valued at $1,022,000 after buying an additional 6,007 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in General Motors by 20.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 235,793 shares of the auto manufacturer’s stock valued at $13,502,000 after buying an additional 39,650 shares during the period. Finally, J.Safra Asset Management Corp boosted its position in General Motors by 2.8% during the third quarter. J.Safra Asset Management Corp now owns 10,915 shares of the auto manufacturer’s stock valued at $665,000 after acquiring an additional 296 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 analysts have recently issued reports on the company. Cowen reissued a “buy” rating on shares of General Motors in a research note on Friday, December 12th. Mizuho set a $100.00 price target on General Motors in a report on Friday, January 9th. Morgan Stanley upgraded shares of General Motors from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $54.00 to $90.00 in a research note on Monday, December 8th. Royal Bank Of Canada lifted their price target on shares of General Motors from $77.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Tigress Financial raised their target price on General Motors from $88.00 to $92.00 and gave the company a “strong-buy” rating in a research note on Friday, October 24th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $78.41.

General Motors Stock Down 0.1%

General Motors stock opened at $80.79 on Tuesday. The firm has a market capitalization of $75.37 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 0.64 and a beta of 1.31. The firm’s fifty day moving average price is $77.89 and its two-hundred day moving average price is $65.18. General Motors Company has a 1-year low of $41.60 and a 1-year high of $85.18. The company has a current ratio of 1.23, a quick ratio of 1.06 and a debt-to-equity ratio of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.48. The company had revenue of $48.59 billion for the quarter, compared to analyst estimates of $44.60 billion. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.96 EPS. On average, equities research analysts predict that General Motors Company will post 11.44 earnings per share for the current fiscal year.

Insider Buying and Selling at General Motors

In related news, President Mark L. Reuss sold 260,600 shares of the business’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $66.45, for a total transaction of $17,316,870.00. Following the transaction, the president directly owned 98,006 shares in the company, valued at approximately $6,512,498.70. The trade was a 72.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher Hatto sold 7,724 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $72.00, for a total transaction of $556,128.00. Following the completion of the sale, the chief accounting officer directly owned 12,007 shares of the company’s stock, valued at $864,504. The trade was a 39.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 284,021 shares of company stock valued at $18,971,788 in the last quarter. 0.54% of the stock is currently owned by corporate insiders.

General Motors Company Profile

General Motors Company (NYSE: GM) is a global automotive manufacturer headquartered in Detroit, Michigan, that designs, builds and sells cars, trucks, crossovers and electric vehicles, and provides related parts and services. Founded in 1908, GM has long been one of the world’s largest automakers and has evolved into a multi-brand company whose primary marques include Chevrolet, GMC, Cadillac and Buick. Beyond vehicle manufacturing, GM’s operations encompass vehicle financing, connected services and advanced mobility initiatives.

GM develops and markets a broad portfolio of products and technologies, including internal-combustion and battery-electric vehicles, vehicle components and on-board connectivity services.