Wakefield Asset Management LLLP Takes $538,000 Position in General Motors (NYSE:GM)

Wakefield Asset Management LLLP bought a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,098 shares of the auto manufacturer’s stock, valued at approximately $538,000.

Several other large investors have also recently bought and sold shares of GM. QRG Capital Management Inc. raised its stake in shares of General Motors by 3.5% during the 4th quarter. QRG Capital Management Inc. now owns 260,407 shares of the auto manufacturer’s stock worth $13,872,000 after purchasing an additional 8,780 shares in the last quarter. First Command Advisory Services Inc. raised its position in General Motors by 60.4% during the fourth quarter. First Command Advisory Services Inc. now owns 1,144 shares of the auto manufacturer’s stock worth $61,000 after acquiring an additional 431 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in General Motors by 6,084.7% in the fourth quarter. Proficio Capital Partners LLC now owns 556,192 shares of the auto manufacturer’s stock valued at $29,628,000 after acquiring an additional 547,199 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of General Motors by 22.9% in the 4th quarter. Oppenheimer & Co. Inc. now owns 18,161 shares of the auto manufacturer’s stock valued at $967,000 after acquiring an additional 3,387 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of General Motors by 2.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 538,400 shares of the auto manufacturer’s stock worth $28,681,000 after purchasing an additional 10,500 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Performance

Shares of NYSE:GM opened at $47.68 on Friday. The company’s 50 day simple moving average is $50.40 and its 200 day simple moving average is $50.31. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. General Motors has a 1 year low of $38.94 and a 1 year high of $61.24. The stock has a market capitalization of $47.44 billion, a price-to-earnings ratio of 7.75, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. As a group, research analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors declared that its board has initiated a stock buyback plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio is 7.80%.

Insider Activity at General Motors

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the stock in a transaction on Thursday, January 30th. The stock was acquired at an average price of $50.66 per share, with a total value of $607,920.00. Following the acquisition, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GM shares. HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research note on Wednesday, December 11th. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Finally, Mizuho raised their target price on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, General Motors currently has a consensus rating of “Hold” and an average price target of $59.71.

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.