Cigna Investments Inc. New Sells 379 Shares of General Motors (NYSE:GM)

Cigna Investments Inc. New lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,645 shares of the auto manufacturer’s stock after selling 379 shares during the period. Cigna Investments Inc. New’s holdings in General Motors were worth $522,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GHP Investment Advisors Inc. lifted its stake in shares of General Motors by 35.6% during the 3rd quarter. GHP Investment Advisors Inc. now owns 1,827 shares of the auto manufacturer’s stock valued at $82,000 after buying an additional 480 shares in the last quarter. ACR Alpine Capital Research LLC boosted its stake in shares of General Motors by 8.4% in the first quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock worth $287,408,000 after acquiring an additional 492,693 shares during the period. BDF Gestion purchased a new stake in shares of General Motors during the second quarter worth about $2,886,000. Donald Smith & CO. Inc. raised its stake in General Motors by 12.1% during the 3rd quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock valued at $73,070,000 after purchasing an additional 175,860 shares during the period. Finally, Atomi Financial Group Inc. purchased a new position in General Motors in the 1st quarter worth approximately $244,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 9,307 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $459,787.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Rory Harvey sold 9,307 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total transaction of $502,671.07. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $459,787.13. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 531,228 shares of company stock valued at $28,267,714 in the last 90 days. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on GM. Barclays increased their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Wedbush boosted their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada raised their price objective on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. UBS Group boosted their target price on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a report on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $56.92.

General Motors Stock Performance

General Motors stock opened at $50.96 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 capitalization of $56.04 billion, a P/E ratio of 5.43, a price-to-earnings-growth ratio of 0.39 and a beta of 1.42. General Motors has a 1-year low of $26.30 and a 1-year high of $54.29. The company’s 50-day moving average is $48.31 and its 200 day moving average is $46.46.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm 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 business posted $2.28 earnings per share. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. Research analysts forecast that General Motors will post 10.34 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. Stockholders of record on Friday, December 6th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is presently 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.