Royal London Asset Management Ltd. Raises Position in General Motors (NYSE:GM)

Royal London Asset Management Ltd. raised its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,453,993 shares of the auto manufacturer’s stock after buying an additional 300 shares during the period. Royal London Asset Management Ltd. owned about 0.15% of General Motors worth $77,454,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Thrivent Financial for Lutherans raised its position in General Motors by 1.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 52,193 shares of the auto manufacturer’s stock valued at $2,340,000 after purchasing an additional 539 shares during the last quarter. Caprock Group LLC boosted its holdings in shares of General Motors by 15.3% during the 3rd quarter. Caprock Group LLC now owns 29,402 shares of the auto manufacturer’s stock valued at $1,318,000 after buying an additional 3,899 shares in the last quarter. Meeder Asset Management Inc. grew its position in shares of General Motors by 1,167.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 12,920 shares of the auto manufacturer’s stock worth $579,000 after buying an additional 11,901 shares during the period. Prospera Financial Services Inc increased its stake in shares of General Motors by 25.7% in the 3rd quarter. Prospera Financial Services Inc now owns 24,891 shares of the auto manufacturer’s stock worth $1,116,000 after acquiring an additional 5,089 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its position in General Motors by 2.3% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 18,581 shares of the auto manufacturer’s stock valued at $833,000 after acquiring an additional 416 shares during the period. 92.67% of the stock is owned by institutional investors.

General Motors Stock Up 2.4 %

NYSE GM opened at $49.84 on Thursday. General Motors has a 52 week low of $38.96 and a 52 week 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. The company has a market capitalization of $49.59 billion, a P/E ratio of 8.10, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The stock’s 50-day moving average price is $49.05 and its 200-day moving average price is $50.47.

General Motors (NYSE:GM) (TSE:GMM.U) last released its 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 net margin of 3.21% and a return on equity of 15.29%. On average, equities research analysts predict that General Motors will post 11.44 earnings per share for the current year.

General Motors declared that its board has authorized a stock buyback program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio is currently 7.80%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on GM. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and upped their price target for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. TD Cowen assumed coverage on General Motors in a research note on Friday, March 7th. They issued a “buy” rating and a $105.00 target price on the stock. HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research report on Wednesday, December 11th. The Goldman Sachs Group set a $73.00 price objective on shares of General Motors in a research report on Saturday, March 1st. Finally, Mizuho lifted their target price on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $62.89.

About General Motors

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.