Assetmark Inc. Has $4.47 Million Stake in General Motors (NYSE:GM)

Assetmark Inc. grew its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 40.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,875 shares of the auto manufacturer’s stock after purchasing an additional 23,948 shares during the period. Assetmark Inc.’s holdings in General Motors were worth $4,468,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Snider Financial Group bought a new position in shares of General Motors during the 4th quarter worth about $205,000. Victory Capital Management Inc. lifted its holdings in shares of General Motors by 80.9% during the 4th quarter. Victory Capital Management Inc. now owns 2,085,350 shares of the auto manufacturer’s stock worth $111,087,000 after acquiring an additional 932,836 shares during the period. Keybank National Association OH lifted its holdings in shares of General Motors by 11.9% during the 4th quarter. Keybank National Association OH now owns 33,865 shares of the auto manufacturer’s stock worth $1,804,000 after acquiring an additional 3,589 shares during the period. Ring Mountain Capital LLC bought a new position in shares of General Motors during the 4th quarter worth about $1,393,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of General Motors by 1.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 37,183 shares of the auto manufacturer’s stock worth $1,981,000 after acquiring an additional 597 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GM has been the subject of a number of analyst reports. UBS Group reaffirmed a “buy” rating on shares of General Motors in a report on Monday, February 3rd. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Mizuho lifted their price target on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and lifted their price target for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, General Motors has a consensus rating of “Hold” and an average price target of $62.22.

General Motors Stock Up 0.4 %

Shares of NYSE:GM opened at $47.39 on Friday. General Motors has a one year low of $38.94 and a one year high of $61.24. The company has a 50 day moving average of $49.70 and a 200-day moving average of $50.47. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The stock has a market cap of $47.16 billion, a price-to-earnings ratio of 7.71, a P/E/G ratio of 0.67 and a beta of 1.42.

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

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors 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 1.01%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio is currently 7.80%.

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

Insider Activity at General Motors

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was 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 $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 SEC, which is available at the SEC website. Corporate insiders own 0.72% of the company’s stock.

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.