Andra AP fonden Acquires New Holdings in General Motors (NYSE:GM)

Andra AP fonden acquired a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 106,100 shares of the auto manufacturer’s stock, valued at approximately $4,929,000.

A number of other institutional investors have also recently bought and sold shares of GM. Gryphon Financial Partners LLC acquired a new position in shares of General Motors in the fourth quarter valued at approximately $335,000. Jump Financial LLC boosted its holdings in shares of General Motors by 46.1% in the fourth quarter. Jump Financial LLC now owns 47,929 shares of the auto manufacturer’s stock valued at $1,722,000 after buying an additional 15,121 shares during the period. Quotient Wealth Partners LLC acquired a new position in shares of General Motors in the fourth quarter valued at approximately $329,000. M&G Investment Management Ltd. boosted its holdings in shares of General Motors by 22.0% in the fourth quarter. M&G Investment Management Ltd. now owns 275,615 shares of the auto manufacturer’s stock valued at $9,922,000 after buying an additional 49,729 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of General Motors by 5.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,443,292 shares of the auto manufacturer’s stock valued at $50,905,000 after buying an additional 76,250 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Wedbush restated an “outperform” rating and set a $55.00 target price on shares of General Motors in a report on Wednesday, July 24th. UBS Group increased their target price on shares of General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wolfe Research assumed coverage on shares of General Motors in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.27.

General Motors Price Performance

Shares of GM opened at $44.67 on Thursday. The firm has a market capitalization of $50.97 billion, a PE ratio of 5.46, a PEG ratio of 0.47 and a beta of 1.43. The company’s 50-day moving average is $46.21 and its 200-day moving average is $44.92. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $50.50. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.39. The company had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.91 earnings per share. Equities analysts forecast that General Motors will post 9.94 EPS for the current year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, September 6th. General Motors’s payout ratio is presently 5.87%.

General Motors announced that its Board of Directors has initiated a share repurchase program on Tuesday, June 11th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to purchase up to 10.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 12,795 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Rory Harvey sold 12,795 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the transaction, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. 0.72% of the stock is owned by insiders.

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.