Jennison Associates LLC Has $144.66 Million Position in General Motors (NYSE:GM)

Jennison Associates LLC boosted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 123.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,226,027 shares of the auto manufacturer’s stock after buying an additional 1,779,897 shares during the period. Jennison Associates LLC’s holdings in General Motors were worth $144,655,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of GM. Capital World Investors lifted its holdings in General Motors by 14.6% in the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after buying an additional 6,201,777 shares during the period. Swedbank AB acquired a new stake in General Motors in the first quarter worth $159,750,000. Artemis Investment Management LLP raised its holdings in General Motors by 581.4% in the third quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock worth $71,827,000 after purchasing an additional 1,366,768 shares during the period. Dimensional Fund Advisors LP raised its holdings in General Motors by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after purchasing an additional 1,091,137 shares during the period. Finally, Panagora Asset Management Inc. raised its holdings in General Motors by 3,333.1% in the second quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock worth $36,394,000 after purchasing an additional 760,523 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the sale, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. The trade was a 49.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 653,511 shares of company stock valued at $35,012,844 in the last quarter. Company insiders own 0.72% of the company’s stock.

General Motors Stock Performance

Shares of GM opened at $55.12 on Wednesday. The firm has a 50-day moving average of $50.10 and a 200-day moving average of $47.48. General Motors has a one year low of $27.70 and a one year high of $59.39. The company has a market cap of $60.61 billion, a PE ratio of 5.88, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03.

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

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Wall Street Analyst Weigh In

GM has been the topic of several analyst reports. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. The Goldman Sachs Group increased their target price on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Wells Fargo & Company increased their target price on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. Wedbush raised their price objective on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and a consensus target price of $56.92.

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.