General Motors (NYSE:GM) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 168,469 shares of the auto manufacturer’s stock after acquiring an additional 3,419 shares during the quarter. Daiwa Securities Group Inc.’s holdings in General Motors were worth $7,827,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado raised its stake in shares of General Motors by 1,213.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock worth $79,159,000 after buying an additional 2,035,925 shares in the last quarter. US Bancorp DE raised its position in General Motors by 59.3% in the fourth quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock worth $3,121,000 after acquiring an additional 32,331 shares in the last quarter. GSA Capital Partners LLP raised its position in General Motors by 317.6% in the fourth quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock worth $2,436,000 after acquiring an additional 51,571 shares in the last quarter. ACR Alpine Capital Research LLC lifted its holdings in General Motors by 8.4% in the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock valued at $287,408,000 after acquiring an additional 492,693 shares during the last quarter. Finally, M&G Investment Management Ltd. grew its stake in shares of General Motors by 22.0% in the 4th quarter. M&G Investment Management Ltd. now owns 275,615 shares of the auto manufacturer’s stock worth $9,922,000 after purchasing an additional 49,729 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GM. Wedbush reissued an “outperform” rating and set a $55.00 target price on shares of General Motors in a research note on Wednesday, July 24th. Morgan Stanley downgraded General Motors from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $46.00 to $47.00 in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. UBS Group upped their target price on General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Royal Bank of Canada cut their price objective on General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, General Motors currently has an average rating of “Moderate Buy” and an average price target of $55.27.

General Motors Price Performance

GM opened at $44.67 on Thursday. The stock has a fifty day moving average price of $46.21 and a 200 day moving average price of $44.92. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50. The stock has a market cap of $50.97 billion, a price-to-earnings ratio of 5.46, a PEG ratio of 0.47 and a beta of 1.43.

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

General Motors Dividend Announcement

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

General Motors announced that its Board of Directors has authorized a stock buyback 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 buy up to 10.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Paul A. Jacobson acquired 25,000 shares of the stock in a transaction dated Friday, July 26th. The shares were acquired at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the purchase, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

General Motors 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.