Allspring Global Investments Holdings LLC Purchases 129,128 Shares of General Motors (NYSE:GM)

Allspring Global Investments Holdings LLC boosted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 9.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,536,428 shares of the auto manufacturer’s stock after purchasing an additional 129,128 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in General Motors were worth $69,677,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado raised its holdings in General Motors by 1,213.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock worth $79,159,000 after purchasing an additional 2,035,925 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of General Motors by 18.5% during the fourth quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock valued at $17,064,000 after acquiring an additional 74,194 shares in the last quarter. US Bancorp DE increased its holdings in shares of General Motors by 59.3% during the fourth quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock valued at $3,121,000 after acquiring an additional 32,331 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of General Motors by 317.6% during the fourth quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock valued at $2,436,000 after acquiring an additional 51,571 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of General Motors by 361.1% during the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock valued at $4,300,000 after acquiring an additional 93,754 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Insider Transactions at General Motors

In other news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the transaction, the president now directly owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, President Mark L. Reuss sold 150,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the transaction, the president now directly owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Mark L. Reuss sold 14,858 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $46.01, for a total value of $683,616.58. Following the completion of the transaction, the president now directly owns 162,049 shares of the company’s stock, valued at $7,455,874.49. The disclosure for this sale can be found here. Insiders sold a total of 1,152,621 shares of company stock valued at $51,818,111 in the last three months. 0.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GM has been the topic of several recent analyst reports. Citigroup upped their price objective on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada upped their target price on General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. UBS Group upped their target price on General Motors from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Barclays upped their target price on General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, Morgan Stanley upped their target price on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.91.

General Motors Trading Up 0.6 %

Shares of GM stock opened at $46.94 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. The company has a market cap of $53.56 billion, a price-to-earnings ratio of 5.74, a PEG ratio of 0.49 and a beta of 1.43. The stock has a 50 day simple moving average of $45.67 and a 200-day simple moving average of $41.53. General Motors has a 1-year low of $26.30 and a 1-year high of $49.35.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.60. The business had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.21 EPS. On average, equities research analysts expect that General Motors will post 9.43 EPS for the current fiscal year.

General Motors declared that its board has approved a stock buyback plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, June 7th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, June 7th. General Motors’s payout ratio is 5.87%.

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.