Asahi Life Asset Management CO. LTD. Buys 750 Shares of General Motors (NYSE:GM)

by · The Markets Daily

Asahi Life Asset Management CO. LTD. boosted its position in shares of General Motors (NYSE:GM – Free Report) (TSE:GMM.U) by 8.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,540 shares of the auto manufacturer’s stock after buying an additional 750 shares during the period. Asahi Life Asset Management CO. LTD.’s holdings in General Motors were worth $428,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GM. FCG Investment Co acquired a new position in shares of General Motors during the 3rd quarter worth $982,000. State of Alaska Department of Revenue boosted its stake in shares of General Motors by 41.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 191,393 shares of the auto manufacturer’s stock valued at $8,581,000 after purchasing an additional 56,485 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of General Motors by 0.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 478,958 shares of the auto manufacturer’s stock valued at $21,536,000 after purchasing an additional 1,425 shares in the last quarter. GHP Investment Advisors Inc. increased its position in General Motors by 35.6% during the 3rd quarter. GHP Investment Advisors Inc. now owns 1,827 shares of the auto manufacturer’s stock worth $82,000 after purchasing an additional 480 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its stake in General Motors by 22.7% in the 3rd quarter. Boston Trust Walden Corp now owns 7,483 shares of the auto manufacturer’s stock valued at $336,000 after purchasing an additional 1,383 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GM has been the subject of several research analyst reports. Barclays upped their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. UBS Group lifted their price target on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $53.00 price objective on shares of General Motors in a report on Tuesday, September 10th. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley lowered shares of General Motors from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $56.92.

Get Our Latest Stock Report on General Motors

Insider Buying and Selling

In related news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 0.00 % 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, EVP Rory Harvey sold 12,795 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 531,228 shares of company stock worth $28,267,714 in the last quarter. Insiders own 0.72% of the company’s stock.

General Motors Stock Up 1.0 %

GM stock traded up $0.50 during trading on Monday, reaching $52.57. 2,479,404 shares of the stock were exchanged, compared to its average volume of 15,075,639. The firm’s 50 day moving average is $47.81 and its 200 day moving average is $46.21. The firm has a market cap of $59.08 billion, a P/E ratio of 5.55, a price-to-earnings-growth ratio of 0.60 and a beta of 1.42. The company has a current ratio of 1.21, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. General Motors has a twelve month low of $26.30 and a twelve month high of $54.29.

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last issued its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same period in the prior year, the firm earned $2.28 earnings per share. General Motors’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, research analysts forecast that General Motors will post 10.05 EPS for the current year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is presently 5.12%.

General Motors Profile

(Free Report)

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.

Featured Stories