Meeder Asset Management Inc. Has $579,000 Stock Holdings in General Motors (NYSE:GM)

Meeder Asset Management Inc. lifted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1,167.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,920 shares of the auto manufacturer’s stock after buying an additional 11,901 shares during the period. Meeder Asset Management Inc.’s holdings in General Motors were worth $579,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of GM. SJS Investment Consulting Inc. grew its stake in shares of General Motors by 34.5% during the second quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock worth $37,000 after buying an additional 203 shares during the last quarter. Allworth Financial LP increased its holdings in General Motors by 2.3% in the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after purchasing an additional 205 shares in the last quarter. Fortitude Family Office LLC raised its position in General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares during the last quarter. SeaCrest Wealth Management LLC boosted its stake in shares of General Motors by 3.5% during the second quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock valued at $316,000 after purchasing an additional 227 shares in the last quarter. Finally, Institute for Wealth Management LLC. grew its holdings in shares of General Motors by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock worth $1,702,000 after purchasing an additional 230 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Price Performance

Shares of GM opened at $55.12 on Wednesday. The stock has a market cap of $60.61 billion, a P/E ratio of 5.88, a P/E/G ratio of 0.43 and a beta of 1.40. The business’s fifty day moving average is $50.10 and its 200 day moving average is $47.48. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. General Motors has a 12-month low of $27.70 and a 12-month high of $59.39.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (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 firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same period last year, the company earned $2.28 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. Sell-side analysts anticipate that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.87%. General Motors’s dividend payout ratio is presently 5.12%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GM shares. DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a report on Friday, October 11th. Wells Fargo & Company lifted their price target 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. Royal Bank of Canada increased their price objective on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Barclays upped their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors currently has a consensus rating of “Hold” and an average target price of $56.92.

Insider Activity at General Motors

In related news, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the sale, the president now owns 126,907 shares in the company, valued at approximately $7,000,190.12. This trade represents a 49.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. The trade was a 18.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 653,511 shares of company stock valued at $35,012,844 over the last 90 days. Insiders own 0.72% of the company’s stock.

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.