AGF Management Ltd. Has $1.48 Million Stake in General Motors (NYSE:GM)

AGF Management Ltd. trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 34.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,772 shares of the auto manufacturer’s stock after selling 14,794 shares during the quarter. AGF Management Ltd.’s holdings in General Motors were worth $1,479,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of General Motors in the fourth quarter valued at $25,000. Crews Bank & Trust acquired a new position in shares of General Motors in the fourth quarter valued at $26,000. Compass Planning Associates Inc acquired a new position in shares of General Motors in the fourth quarter valued at $27,000. Duncker Streett & Co. Inc. raised its stake in General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after acquiring an additional 498 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in General Motors during the fourth quarter worth $28,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Price Performance

General Motors stock opened at $48.34 on Friday. The business’s 50-day simple moving average is $49.23 and its 200 day simple moving average is $50.46. The stock has a market cap of $48.10 billion, a price-to-earnings ratio of 7.86, a P/E/G ratio of 0.67 and a beta of 1.42. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 anticipate that General Motors will post 11.44 earnings per share for the current year.

General Motors declared that its Board of Directors has initiated a share buyback program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

GM has been the subject of several recent analyst reports. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. UBS Group reiterated a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Mizuho increased their price objective on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $62.89.

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.