Atlantic Union Bankshares Corp Has $906,000 Position in General Motors (NYSE:GM)

Atlantic Union Bankshares Corp cut its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 35.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,968 shares of the auto manufacturer’s stock after selling 10,788 shares during the period. Atlantic Union Bankshares Corp’s holdings in General Motors were worth $906,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GM. Vanguard Group Inc. boosted its holdings in General Motors by 1.4% in the third quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock valued at $3,674,861,000 after acquiring an additional 1,580,681 shares during the last quarter. Putnam Investments LLC boosted its stake in shares of General Motors by 16.8% in the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock valued at $726,942,000 after purchasing an additional 2,905,689 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of General Motors by 21.9% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after buying an additional 3,247,050 shares during the period. Norges Bank bought a new position in General Motors during the fourth quarter worth $602,280,000. Finally, Morgan Stanley lifted its holdings in General Motors by 1.3% in the third quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock valued at $501,562,000 after buying an additional 201,080 shares during the period. 92.67% of the stock is owned by institutional investors.

General Motors Trading Up 1.9 %

Shares of General Motors stock opened at $46.45 on Friday. The company has a market capitalization of $52.99 billion, a P/E ratio of 5.68, a price-to-earnings-growth ratio of 0.48 and a beta of 1.46. The stock has a fifty day simple moving average of $45.60 and a 200 day simple moving average of $41.35. General Motors has a 12-month low of $26.30 and a 12-month high of $49.35. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22.

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

General Motors declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, June 11th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. General Motors’s dividend payout ratio is currently 5.87%.

Insider Transactions at General Motors

In related news, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the sale, the president now directly owns 176,907 shares in the company, valued at $7,684,840.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total value of $27,219,693.36. Following the transaction, the chief executive officer now directly owns 1,198,648 shares in the company, valued at $52,093,242.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Mark L. Reuss sold 150,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the transaction, the president now directly owns 176,907 shares of the company’s stock, valued at $7,684,840.08. The disclosure for this sale can be found here. Insiders have sold 1,152,621 shares of company stock worth $51,818,111 in the last 90 days. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

GM has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Sanford C. Bernstein started coverage on General Motors in a report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 target price for the company. Piper Sandler increased their price target on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Mizuho raised their price objective on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Citigroup boosted their target price on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, General Motors currently has an average rating of “Moderate Buy” and a consensus target price of $54.91.

About General Motors

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.