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

Cigna Investments Inc. New lowered its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new position in shares of General Motors during the 2nd quarter valued at $25,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors during the second quarter valued at about $28,000. Fortitude Family Office LLC lifted its stake in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares during the last quarter. Montag A & Associates Inc. purchased a new stake in General Motors during the 1st quarter valued at about $30,000. Finally, EdgeRock Capital LLC bought a new position in General Motors during the 2nd quarter worth approximately $33,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GM has been the subject of several recent research reports. Sanford C. Bernstein boosted their price objective on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Wolfe Research assumed coverage on shares of General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Royal Bank of Canada boosted their price objective on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company boosted their price target on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.92.

General Motors Price Performance

Shares of GM opened at $50.96 on Friday. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $54.29. The firm’s 50-day simple moving average is $48.31 and its two-hundred day simple moving average is $46.46. The stock has a market cap of $56.04 billion, a PE ratio of 5.43, a price-to-earnings-growth ratio of 0.39 and a beta of 1.42. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21.

General Motors (NYSE:GM) (TSE:GMM.U) last posted 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. The company had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.28 EPS. Analysts anticipate that General Motors will post 10.34 earnings per share for the current fiscal 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 given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is presently 5.12%.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the transaction, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other General Motors news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 531,228 shares of company stock worth $28,267,714 in the last quarter. Corporate 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.