Sumitomo Life Insurance Co. Has $991,000 Stake in General Motors (NYSE:GM)

Sumitomo Life Insurance Co. increased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 3.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,091 shares of the auto manufacturer’s stock after purchasing an additional 653 shares during the period. Sumitomo Life Insurance Co.’s holdings in General Motors were worth $991,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in GM. Strategic Investment Solutions Inc. IL bought a new position in shares of General Motors during the second quarter worth about $25,000. Wellington Shields Capital Management LLC acquired a new position in General Motors during the 2nd quarter worth approximately $28,000. Fortitude Family Office LLC grew its stake in shares of General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 225 shares in the last quarter. Montag A & Associates Inc. acquired a new stake in shares of General Motors in the first quarter valued at approximately $30,000. Finally, EdgeRock Capital LLC bought a new stake in shares of General Motors in the second quarter worth $33,000. Institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In related news, CFO Paul A. Jacobson acquired 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 acquisition, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Paul A. Jacobson acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the purchase, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by corporate insiders.

General Motors Stock Performance

Shares of NYSE GM opened at $49.00 on Thursday. 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 firm has a market cap of $55.90 billion, a price-to-earnings ratio of 5.99, a P/E/G ratio of 0.56 and a beta of 1.42. The stock’s fifty day moving average price is $46.76 and its two-hundred day moving average price is $45.87. General Motors has a one year low of $26.30 and a one year high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. During the same period last year, the firm earned $1.91 earnings per share. General Motors’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts forecast that General Motors will post 9.95 EPS for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were given a $0.12 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.98%. General Motors’s payout ratio is 5.87%.

Analyst Upgrades and Downgrades

GM has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Morgan Stanley cut General Motors from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $47.00 to $42.00 in a research report on Wednesday, September 25th. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Wolfe Research started coverage on General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, UBS Group boosted their target price on shares of General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, General Motors currently has a consensus rating of “Hold” and a consensus price target of $55.35.

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.