Principal Financial Group Inc. Has $56.86 Million Stake in General Motors (NYSE:GM)

Principal Financial Group Inc. grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,268,096 shares of the auto manufacturer’s stock after buying an additional 13,206 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of General Motors worth $56,861,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. SJS Investment Consulting Inc. lifted its holdings in shares of General Motors by 34.5% during the 2nd quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock worth $37,000 after acquiring an additional 203 shares during the period. Allworth Financial LP lifted its stake in General Motors by 2.3% during the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after purchasing an additional 205 shares during the period. Fortitude Family Office LLC boosted its holdings in General Motors by 56.1% during 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 in the last quarter. SeaCrest Wealth Management LLC grew its stake in shares of General Motors by 3.5% in the 2nd 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 during the period. Finally, Institute for Wealth Management LLC. lifted its position in shares of General Motors by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock worth $1,702,000 after buying an additional 230 shares during the period. Institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

GM has been the topic of a number of analyst reports. The Goldman Sachs Group upped their price target on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Wedbush upped their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Nomura Securities raised shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. JPMorgan Chase & Co. upped their price objective 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. Finally, Wolfe Research started coverage on shares of General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Four research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $56.92.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction that occurred on 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 owns 10,356 shares in the company, valued at $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other General Motors news, President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the sale, the president now owns 126,907 shares in the company, valued at approximately $7,000,190.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. This represents a 0.00 % 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. 0.72% of the stock is owned by company insiders.

General Motors Trading Up 0.3 %

Shares of NYSE GM opened at $55.58 on Friday. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $56.08. The firm has a market capitalization of $61.12 billion, a P/E ratio of 5.93, a P/E/G ratio of 0.42 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The company’s 50 day simple moving average is $48.81 and its 200 day simple moving average is $46.87.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share 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 business had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same period last year, the company posted $2.28 EPS. General Motors’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts predict that General Motors will post 10.34 EPS for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 annualized dividend and a dividend yield of 0.86%. General Motors’s dividend payout ratio (DPR) is currently 5.12%.

About General Motors

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.