Synovus Financial Corp Purchases 25,443 Shares of General Motors (NYSE:GM)

Synovus Financial Corp increased its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 125.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,803 shares of the auto manufacturer's stock after purchasing an additional 25,443 shares during the period. Synovus Financial Corp's holdings in General Motors were worth $2,054,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GM. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of General Motors by 972.6% during 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 acquiring an additional 1,906,964 shares during the last quarter. Jennison Associates LLC lifted its position in General Motors by 123.1% during the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer's stock valued at $144,655,000 after acquiring an additional 1,779,897 shares during the last quarter. Artemis Investment Management LLP grew its stake in General Motors by 581.4% during the 3rd 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 increased its holdings in shares of General Motors by 158.8% during 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 acquiring an additional 1,332,450 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of General Motors by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer's stock worth $600,291,000 after buying an additional 1,091,137 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Stock Down 0.6 %

Shares of General Motors stock traded down $0.33 during trading on Monday, reaching $52.20. The stock had a trading volume of 11,686,865 shares, compared to its average volume of 14,712,841. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. General Motors has a 52 week low of $34.32 and a 52 week high of $61.24. The stock has a fifty day moving average price of $53.00 and a two-hundred day moving average price of $48.72. The company has a market capitalization of $57.40 billion, a price-to-earnings ratio of 5.59, a P/E/G ratio of 0.39 and a beta of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.47. The firm had revenue of $48.76 billion for the quarter, compared to analysts' expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business's revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.28 EPS. Sell-side analysts predict that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, December 6th. General Motors's dividend payout ratio is currently 5.12%.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Mark L. Reuss sold 122,283 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were 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. This represents a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,030,475 shares of company stock valued at $56,509,286. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on GM. The Goldman Sachs Group boosted their price target on General Motors from $53.00 to $61.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. UBS Group increased their target price on shares of General Motors from $58.00 to $62.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Wolfe Research initiated coverage on General Motors in a research report on Thursday, September 5th. They set a "peer perform" rating on the stock. JPMorgan Chase & Co. upped their price objective on General Motors from $64.00 to $70.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Finally, Wedbush increased their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $58.70.

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.