Victory Capital Management Inc. Has $51.68 Million Stock Position in General Motors (NYSE:GM)

Victory Capital Management Inc. raised its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 21.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,152,514 shares of the auto manufacturer’s stock after buying an additional 202,194 shares during the quarter. Victory Capital Management Inc. owned about 0.10% of General Motors worth $51,679,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. US Bancorp DE raised its position in General Motors by 1.6% in the 1st quarter. US Bancorp DE now owns 88,246 shares of the auto manufacturer’s stock valued at $4,002,000 after buying an additional 1,358 shares during the last quarter. SageView Advisory Group LLC acquired a new stake in shares of General Motors in the first quarter valued at approximately $625,000. HBK Sorce Advisory LLC lifted its position in shares of General Motors by 89.8% in the first quarter. HBK Sorce Advisory LLC now owns 13,161 shares of the auto manufacturer’s stock worth $597,000 after purchasing an additional 6,227 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in General Motors by 14.8% during the first quarter. Orion Portfolio Solutions LLC now owns 53,078 shares of the auto manufacturer’s stock worth $2,407,000 after purchasing an additional 6,852 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC bought a new position in General Motors in the first quarter valued at $286,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GM. Barclays boosted their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group increased their price target on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Nomura Securities raised General Motors to a “strong sell” rating in a research report on Monday, August 5th. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a report on Friday, October 11th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.92.

Insider Buying and Selling

In other news, EVP Rory Harvey sold 9,307 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $459,787.13. This represents a 52.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the transaction, the president now directly owns 126,907 shares in the company, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 653,511 shares of company stock valued at $35,012,844 over the last 90 days. 0.72% of the stock is owned by corporate insiders.

General Motors Stock Performance

Shares of NYSE GM opened at $57.63 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The firm has a market cap of $63.37 billion, a price-to-earnings ratio of 6.14, a P/E/G ratio of 0.43 and a beta of 1.40. The stock’s fifty day moving average price is $49.33 and its two-hundred day moving average price is $47.13. General Motors has a one year low of $27.42 and a one year high of $59.39.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same period in the prior year, the company posted $2.28 earnings per share. General Motors’s revenue was up 10.5% compared to the same quarter last year. On average, equities analysts forecast that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is currently 5.12%.

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.