Assenagon Asset Management S.A. Invests $202.35 Million in General Motors Company (GM) Stock
Assenagon Asset Management S.A. bought a new stake in General Motors Company (NYSE:GM) (TSE:GMM.U) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,011,194 shares of the auto manufacturer’s stock, valued at approximately $202,352,000. General Motors comprises 1.9% of Assenagon Asset Management S.A.’s investment portfolio, making the stock its 2nd biggest position. Assenagon Asset Management S.A. owned about 0.34% of General Motors as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in General Motors by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock valued at $3,262,952,000 after purchasing an additional 3,560,717 shares during the last quarter. BlackRock Inc. boosted its holdings in General Motors by 1.1% in the 2nd quarter. BlackRock Inc. now owns 78,753,259 shares of the auto manufacturer’s stock valued at $2,750,849,000 after purchasing an additional 850,211 shares during the last quarter. State Street Corp boosted its holdings in General Motors by 3.9% in the 1st quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock valued at $2,136,563,000 after purchasing an additional 2,252,866 shares during the last quarter. Berkshire Hathaway Inc. boosted its holdings in General Motors by 20.0% in the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after purchasing an additional 10,000,000 shares during the last quarter. Finally, Capital World Investors boosted its holdings in General Motors by 5.0% in the 2nd quarter. Capital World Investors now owns 31,327,192 shares of the auto manufacturer’s stock valued at $1,094,259,000 after purchasing an additional 1,500,500 shares during the last quarter. Institutional investors own 72.21% of the company’s stock.
In related news, EVP Craig B. Glidden sold 192,954 shares of General Motors stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $41.64, for a total value of $8,034,604.56. Following the completion of the sale, the executive vice president now owns 214,171 shares in the company, valued at $8,918,080.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alicia S. Boler-Davis sold 10,000 shares of General Motors stock in a transaction on Friday, October 6th. The stock was sold at an average price of $45.00, for a total transaction of $450,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 852,901 shares of company stock worth $32,378,733. Corporate insiders own 0.04% of the company’s stock.
Shares of General Motors Company (NYSE GM) traded up 0.57% during midday trading on Friday, hitting $45.61. 12,203,186 shares of the company’s stock were exchanged. The stock has a market cap of $66.46 billion, a PE ratio of 7.93 and a beta of 1.45. The stock’s 50 day moving average is $41.31 and its 200-day moving average is $36.27. General Motors Company has a 1-year low of $30.21 and a 1-year high of $46.11.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The business had revenue of $36.98 billion for the quarter, compared to analysts’ expectations of $37.67 billion. During the same period in the previous year, the company posted $1.86 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. Analysts predict that General Motors Company will post $6.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.33%. General Motors’s payout ratio is currently 26.48%.
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GM has been the topic of several recent analyst reports. Piper Jaffray Companies reiterated a “buy” rating and issued a $44.00 target price on shares of General Motors in a report on Tuesday, September 12th. UBS AG restated a “buy” rating and issued a $50.00 price objective (up from $39.00) on shares of General Motors in a report on Wednesday, October 11th. Royal Bank Of Canada restated a “hold” rating and issued a $37.00 price objective on shares of General Motors in a report on Friday, July 14th. Barclays PLC upgraded shares of General Motors from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $41.00 to $55.00 in a report on Friday, October 13th. Finally, Buckingham Research restated a “neutral” rating and issued a $33.00 price objective on shares of General Motors in a report on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $42.50.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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