Jennison Associates LLC Sells 1,738,772 Shares of General Motors (NYSE:GM)

Jennison Associates LLC cut its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 53.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,487,255 shares of the auto manufacturer’s stock after selling 1,738,772 shares during the period. Jennison Associates LLC owned about 0.14% of General Motors worth $79,226,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of General Motors by 972.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock worth $94,300,000 after purchasing an additional 1,906,964 shares during the period. Artemis Investment Management LLP increased its position 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 buying an additional 1,366,768 shares during the last quarter. National Bank of Canada FI raised its stake in shares of General Motors by 158.8% in the third quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock valued at $97,374,000 after buying an additional 1,332,450 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in shares of General Motors by 6.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after buying an additional 989,750 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of General Motors by 4,826.5% in the third quarter. International Assets Investment Management LLC now owns 549,261 shares of the auto manufacturer’s stock worth $24,629,000 after purchasing an additional 538,112 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GM has been the topic of several recent research reports. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research report on Friday, October 11th. HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a report on Wednesday, December 11th. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. UBS Group lifted their price objective on General Motors from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. boosted their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, General Motors has an average rating of “Hold” and an average target price of $61.28.

Insider Activity

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $510,865.13. This trade represents a 51.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the transaction, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. The trade was a 700.12 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 514,344 shares of company stock worth $28,977,691 in the last quarter. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Performance

Shares of GM opened at $47.90 on Tuesday. General Motors has a one year low of $37.60 and a one year high of $61.24. The stock has a 50-day moving average of $52.64 and a two-hundred day moving average of $49.95. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The stock has a market cap of $47.66 billion, a P/E ratio of 7.79, a P/E/G ratio of 0.69 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results 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%. As a group, research analysts predict that General Motors will post 11.41 EPS for the current year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. General Motors’s dividend payout ratio is currently 7.80%.

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.