Arizona State Retirement System Has $17.18 Million Holdings in General Motors (NYSE:GM)

Arizona State Retirement System cut its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 322,568 shares of the auto manufacturer’s stock after selling 4,411 shares during the quarter. Arizona State Retirement System’s holdings in General Motors were worth $17,183,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Verdence Capital Advisors LLC boosted its position in General Motors by 53.6% during the 4th quarter. Verdence Capital Advisors LLC now owns 29,957 shares of the auto manufacturer’s stock worth $1,596,000 after acquiring an additional 10,460 shares during the period. Proficio Capital Partners LLC boosted its position in General Motors by 16.1% during the 4th quarter. Proficio Capital Partners LLC now owns 10,441 shares of the auto manufacturer’s stock worth $556,000 after acquiring an additional 1,448 shares during the period. M&T Bank Corp boosted its position in General Motors by 3.1% during the 4th quarter. M&T Bank Corp now owns 65,073 shares of the auto manufacturer’s stock worth $3,467,000 after acquiring an additional 1,932 shares during the period. Atria Investments Inc raised its stake in shares of General Motors by 2.2% during the 4th quarter. Atria Investments Inc now owns 225,252 shares of the auto manufacturer’s stock worth $11,999,000 after purchasing an additional 4,814 shares in the last quarter. Finally, Assetmark Inc. raised its stake in shares of General Motors by 40.0% during the 4th quarter. Assetmark Inc. now owns 83,875 shares of the auto manufacturer’s stock worth $4,468,000 after purchasing an additional 23,948 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at General Motors

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the acquisition, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

GM has been the subject of a number of recent research reports. UBS Group reaffirmed a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and raised their price target for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $59.71.

General Motors Stock Performance

GM opened at $48.48 on Thursday. The firm has a market capitalization of $48.24 billion, a P/E ratio of 7.88, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The stock’s 50 day moving average price is $49.98 and its two-hundred day moving average price is $50.45. 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 has a 12-month low of $38.94 and a 12-month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 26th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

General Motors Dividend Announcement

The firm 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 $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

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.