Voya Investment Management LLC Sells 65,734 Shares of General Motors (NYSE:GM)

Voya Investment Management LLC cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 11.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 508,144 shares of the auto manufacturer’s stock after selling 65,734 shares during the period. Voya Investment Management LLC owned approximately 0.05% of General Motors worth $27,069,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of General Motors in the 4th quarter valued at approximately $592,321,000. Amundi raised its position in General Motors by 75.5% during the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock valued at $250,627,000 after purchasing an additional 2,113,973 shares in the last quarter. ACR Alpine Capital Research LLC lifted its stake in General Motors by 39.8% during the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock worth $394,060,000 after purchasing an additional 2,104,528 shares during the last quarter. Raymond James Financial Inc. bought a new stake in General Motors during the fourth quarter worth $108,366,000. Finally, National Bank of Canada FI boosted its holdings in shares of General Motors by 54.4% in the 4th quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer’s stock valued at $178,593,000 after purchasing an additional 1,180,936 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the purchase, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

GM has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $43.00 price target for the company. in a report on Monday, April 14th. Sanford C. Bernstein cut General Motors from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $50.00 to $35.00 in a report on Monday, April 7th. UBS Group restated a “neutral” rating and set a $51.00 price target (down from $64.00) on shares of General Motors in a report on Thursday, April 10th. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Finally, TD Cowen began coverage on shares of General Motors in a research note on Friday, March 7th. They set a “buy” rating and a $105.00 price target for the company. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $54.83.

General Motors Stock Performance

Shares of General Motors stock opened at $47.11 on Friday. The company has a market cap of $46.87 billion, a PE ratio of 7.66, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The business has a 50 day moving average price of $46.87 and a 200-day moving average price of $50.32.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Equities analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its board has authorized a stock buyback program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.02%. General Motors’s dividend payout ratio (DPR) is 7.80%.

General Motors 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.