Bfsg LLC Sells 904 Shares of General Motors (NYSE:GM)

Bfsg LLC reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 60.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 583 shares of the auto manufacturer’s stock after selling 904 shares during the quarter. Bfsg LLC’s holdings in General Motors were worth $27,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Arkadios Wealth Advisors boosted its position in General Motors by 38.4% during the 2nd quarter. Arkadios Wealth Advisors now owns 9,426 shares of the auto manufacturer’s stock valued at $438,000 after acquiring an additional 2,617 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in General Motors by 25.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,456 shares of the auto manufacturer’s stock worth $68,000 after buying an additional 291 shares during the last quarter. HB Wealth Management LLC increased its position in General Motors by 17.2% during the 2nd quarter. HB Wealth Management LLC now owns 19,382 shares of the auto manufacturer’s stock valued at $901,000 after buying an additional 2,850 shares in the last quarter. Checchi Capital Advisers LLC boosted its holdings in General Motors by 4.8% in the second quarter. Checchi Capital Advisers LLC now owns 7,874 shares of the auto manufacturer’s stock worth $366,000 after acquiring an additional 358 shares in the last quarter. Finally, Harbour Investments Inc. grew its position in General Motors by 6.5% during the 2nd quarter. Harbour Investments Inc. now owns 12,355 shares of the auto manufacturer’s stock worth $574,000 after purchasing an additional 759 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GM. Morgan Stanley lowered General Motors from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $46.00 to $47.00 in a research note on Wednesday, July 24th. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Bank of America restated a “buy” rating and set a $75.00 target price on shares of General Motors in a research report on Wednesday, June 12th. Finally, Wells Fargo & Company lifted their price objective on General Motors from $32.00 to $34.00 and gave the company an “underweight” rating in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.17.

Insider Activity at General Motors

In other General Motors news, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Paul A. Jacobson bought 25,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was purchased at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the transaction, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 391,402 shares of company stock valued at $18,818,536. 0.72% of the stock is owned by company insiders.

General Motors Price Performance

GM traded down $0.20 on Friday, reaching $49.27. 8,119,485 shares of the company’s stock were exchanged, compared to its average volume of 15,453,456. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50. The stock has a market cap of $56.22 billion, a PE ratio of 6.05, a P/E/G ratio of 0.44 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The stock’s fifty day moving average price is $46.01 and its 200-day moving average price is $44.30.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. During the same period in the prior year, the business earned $1.91 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. Sell-side analysts expect that General Motors will post 9.94 EPS for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, September 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.97%. General Motors’s payout ratio is 5.87%.

General Motors announced that its Board of Directors has initiated a share buyback program on Tuesday, June 11th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are 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.