Alberta Investment Management Corp Invests $3.03 Million in General Motors Company $GM

Alberta Investment Management Corp bought a new position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 49,690 shares of the auto manufacturer’s stock, valued at approximately $3,030,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of General Motors by 11.5% in the second quarter. Vanguard Group Inc. now owns 110,759,703 shares of the auto manufacturer’s stock worth $5,450,485,000 after purchasing an additional 11,418,367 shares during the last quarter. Viking Global Investors LP lifted its holdings in General Motors by 81.1% during the 2nd quarter. Viking Global Investors LP now owns 13,018,874 shares of the auto manufacturer’s stock worth $640,659,000 after buying an additional 5,830,050 shares during the period. Legal & General Group Plc grew its position in shares of General Motors by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 10,143,779 shares of the auto manufacturer’s stock valued at $499,175,000 after buying an additional 54,853 shares during the last quarter. Norges Bank bought a new stake in shares of General Motors in the 2nd quarter valued at about $444,319,000. Finally, Ameriprise Financial Inc. increased its stake in shares of General Motors by 8.0% in the second quarter. Ameriprise Financial Inc. now owns 5,699,105 shares of the auto manufacturer’s stock valued at $280,457,000 after buying an additional 424,396 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GM has been the topic of several analyst reports. Royal Bank Of Canada upped their target price on General Motors from $92.00 to $107.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. Jefferies Financial Group increased their price objective on shares of General Motors from $85.00 to $97.00 and gave the stock a “hold” rating in a research report on Monday, February 2nd. Wells Fargo & Company boosted their target price on shares of General Motors from $48.00 to $57.00 and gave the company an “underweight” rating in a report on Wednesday, January 28th. The Goldman Sachs Group set a $104.00 price target on shares of General Motors in a research report on Tuesday, January 27th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $100.00 price objective on shares of General Motors in a research report on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.52.

General Motors Trading Down 2.7%

NYSE:GM opened at $81.40 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 1.01. General Motors Company has a one year low of $41.60 and a one year high of $87.62. The company has a market cap of $73.58 billion, a PE ratio of 27.04, a PEG ratio of 0.46 and a beta of 1.36. The firm has a 50-day moving average of $82.18 and a 200-day moving average of $69.74.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 27th. The auto manufacturer reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.25. General Motors had a return on equity of 14.72% and a net margin of 1.46%.The firm had revenue of $45.29 billion for the quarter, compared to analysts’ expectations of $45.81 billion. During the same quarter in the prior year, the firm earned $1.92 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. General Motors has set its FY 2026 guidance at 9.750-10.500 EPS. As a group, equities research analysts expect that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Friday, March 6th will be paid a $0.18 dividend. The ex-dividend date is Friday, March 6th. This is a positive change from General Motors’s previous quarterly dividend of $0.15. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. General Motors’s dividend payout ratio is 19.93%.

General Motors announced that its board has initiated a stock repurchase program on Tuesday, January 27th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 8.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

About General Motors

General Motors Company (NYSE: GM) is a global automotive manufacturer headquartered in Detroit, Michigan, that designs, builds and sells cars, trucks, crossovers and electric vehicles, and provides related parts and services. Founded in 1908, GM has long been one of the world’s largest automakers and has evolved into a multi-brand company whose primary marques include Chevrolet, GMC, Cadillac and Buick. Beyond vehicle manufacturing, GM’s operations encompass vehicle financing, connected services and advanced mobility initiatives.

GM develops and markets a broad portfolio of products and technologies, including internal-combustion and battery-electric vehicles, vehicle components and on-board connectivity services.