General Motors (NYSE:GM) Shares Acquired by 1832 Asset Management L.P.

1832 Asset Management L.P. boosted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,576 shares of the auto manufacturer’s stock after acquiring an additional 1,566 shares during the period. 1832 Asset Management L.P.’s holdings in General Motors were worth $2,861,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Gryphon Financial Partners LLC bought a new position in shares of General Motors during the fourth quarter worth about $335,000. US Bancorp DE grew its position in shares of General Motors by 59.3% in the 4th quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock worth $3,121,000 after acquiring an additional 32,331 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of General Motors by 35.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 46,226 shares of the auto manufacturer’s stock valued at $1,696,000 after acquiring an additional 12,168 shares during the last quarter. Advisory Services Network LLC lifted its stake in General Motors by 11.7% during the fourth quarter. Advisory Services Network LLC now owns 24,127 shares of the auto manufacturer’s stock worth $867,000 after purchasing an additional 2,523 shares during the last quarter. Finally, Cape Investment Advisory Inc. boosted its holdings in General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after purchasing an additional 359 shares during the period. 92.67% of the stock is currently owned by institutional investors.

General Motors Price Performance

Shares of General Motors stock opened at $45.72 on Thursday. General Motors has a 52 week low of $26.30 and a 52 week high of $50.50. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The stock has a market cap of $51.39 billion, a PE ratio of 5.59, a price-to-earnings-growth ratio of 0.56 and a beta of 1.43. The company’s 50-day moving average price is $46.22 and its two-hundred day moving average price is $45.42.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The business had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.91 EPS. As a group, sell-side analysts anticipate that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, September 6th. General Motors’s dividend payout ratio is presently 5.87%.

General Motors announced that its board has initiated a share repurchase program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GM shares. Wells Fargo & Company decreased their price target on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a report on Tuesday, September 10th. Sanford C. Bernstein lowered General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 target price for the company. in a report on Monday. Nomura Securities raised General Motors to a “strong sell” rating in a report on Monday, August 5th. Royal Bank of Canada lowered their price objective on General Motors from $58.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, Wolfe Research initiated coverage on General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $54.92.

Insider Buying and Selling

In related news, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the transaction, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Motors news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Paul A. Jacobson bought 25,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was acquired at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the transaction, the chief financial officer now owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

General Motors 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.