Acadian Asset Management LLC Sells 381,066 Shares of General Motors (NYSE:GM)

Acadian Asset Management LLC reduced its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 40.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 572,428 shares of the auto manufacturer’s stock after selling 381,066 shares during the period. Acadian Asset Management LLC’s holdings in General Motors were worth $25,954,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado increased its position in General Motors by 1,213.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock worth $79,159,000 after buying an additional 2,035,925 shares during the period. Handelsbanken Fonder AB increased its position in General Motors by 18.5% in the 4th quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock worth $17,064,000 after buying an additional 74,194 shares during the period. US Bancorp DE increased its position in General Motors by 59.3% in the 4th quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock worth $3,121,000 after buying an additional 32,331 shares during the period. GSA Capital Partners LLP increased its position in General Motors by 317.6% in the 4th quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock worth $2,436,000 after buying an additional 51,571 shares during the period. Finally, Cerity Partners LLC increased its position in General Motors by 361.1% in the 4th quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock worth $4,300,000 after buying an additional 93,754 shares during the period. 92.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Citigroup boosted their price objective on General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Wedbush boosted their price objective on General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Piper Sandler boosted their price objective on General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft upped their price target on General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Finally, Bank of America reissued a “buy” rating and issued a $75.00 price objective on shares of General Motors in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.96.

Insider Transactions at General Motors

In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the transaction, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the transaction, the chief executive officer now directly owns 1,198,648 shares in the company, valued at approximately $52,093,242.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mary T. Barra sold 326,305 shares of General Motors stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total value of $15,770,320.65. Following the transaction, the chief executive officer now owns 898,648 shares of the company’s stock, valued at $43,431,657.84. The disclosure for this sale can be found here. Insiders have sold a total of 1,152,621 shares of company stock valued at $51,818,111 over the last 90 days. 0.72% of the stock is owned by company insiders.

General Motors Stock Up 2.5 %

Shares of NYSE GM traded up $1.22 during mid-day trading on Monday, reaching $49.52. 8,921,584 shares of the company’s stock were exchanged, compared to its average volume of 15,646,949. The firm has a market capitalization of $56.50 billion, a price-to-earnings ratio of 5.90, a PEG ratio of 0.51 and a beta of 1.43. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. The business has a fifty day simple moving average of $46.43 and a 200 day simple moving average of $42.71. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. The company had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. General Motors’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.21 earnings per share. As a group, equities analysts expect that General Motors will post 9.43 EPS for the current fiscal year.

General Motors announced that its board has initiated a stock buyback plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to purchase up to 10.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

General Motors Company Profile

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.